Smith Salley & Associates Invests $4.12 Million in Check Point Software Technologies Ltd. (CHKP) Stock

Smith Salley & Associates bought a new position in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 34,980 shares of the technology company’s stock, valued at approximately $4,116,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CHKP. Flossbach Von Storch AG lifted its stake in Check Point Software Technologies by 1,455.9% during the second quarter. Flossbach Von Storch AG now owns 2,486,903 shares of the technology company’s stock worth $242,921,000 after purchasing an additional 2,327,068 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Check Point Software Technologies by 11.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 13,816,985 shares of the technology company’s stock worth $1,349,645,000 after purchasing an additional 1,405,305 shares during the last quarter. Acadian Asset Management LLC lifted its stake in Check Point Software Technologies by 451.9% during the third quarter. Acadian Asset Management LLC now owns 1,568,795 shares of the technology company’s stock worth $184,596,000 after purchasing an additional 1,284,529 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in Check Point Software Technologies by 261.4% during the third quarter. Russell Investments Group Ltd. now owns 374,571 shares of the technology company’s stock worth $44,154,000 after purchasing an additional 270,923 shares during the last quarter. Finally, First Trust Advisors LP lifted its stake in Check Point Software Technologies by 18.4% during the second quarter. First Trust Advisors LP now owns 1,239,304 shares of the technology company’s stock worth $121,055,000 after purchasing an additional 192,417 shares during the last quarter. Hedge funds and other institutional investors own 66.46% of the company’s stock.

Several equities research analysts have weighed in on the company. Zacks Investment Research upgraded Check Point Software Technologies from a “hold” rating to a “buy” rating and set a $127.00 target price for the company in a research note on Monday, August 6th. Credit Suisse Group increased their price target on Check Point Software Technologies from $100.00 to $105.00 and gave the company a “neutral” rating in a research note on Thursday, July 26th. BidaskClub cut Check Point Software Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, October 9th. BMO Capital Markets increased their price target on Check Point Software Technologies from $108.00 to $130.00 and gave the company a “market perform” rating in a research note on Thursday, July 26th. Finally, Wedbush assumed coverage on Check Point Software Technologies in a research note on Thursday, October 18th. They issued an “outperform” rating and a $140.00 price target for the company. Nineteen investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $115.33.

NASDAQ CHKP opened at $112.64 on Friday. The firm has a market capitalization of $18.44 billion, a P/E ratio of 21.83, a P/E/G ratio of 2.25 and a beta of 0.68. Check Point Software Technologies Ltd. has a twelve month low of $93.76 and a twelve month high of $120.81.

Check Point Software Technologies (NASDAQ:CHKP) last posted its quarterly earnings data on Wednesday, October 24th. The technology company reported $1.38 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.36 by $0.02. The business had revenue of $470.80 million during the quarter, compared to the consensus estimate of $465.94 million. Check Point Software Technologies had a return on equity of 23.04% and a net margin of 43.35%. Check Point Software Technologies’s quarterly revenue was up 3.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.30 earnings per share. Equities analysts anticipate that Check Point Software Technologies Ltd. will post 5.2 EPS for the current fiscal year.

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About Check Point Software Technologies

Check Point Software Technologies Ltd. develops, markets, and supports a range of products and services for IT security worldwide. The company offers a portfolio of network and gateway solutions, management solutions, and data and endpoint security solutions. It provides Check Point Infinity Architecture, a cyber security architecture that protects against 5th generation mega cyber-attacks across various networks, endpoint, cloud, and mobile; security gateways from platforms for small business and small office locations, high end and high demanding data centers, and perimeter environments; and Check Point SandBlast family for threat prevention and zero-day protections.

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Institutional Ownership by Quarter for Check Point Software Technologies (NASDAQ:CHKP)

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