Check Point Software Technologies Ltd. (NASDAQ:CHKP) Position Raised by Simmons Bank

Simmons Bank lifted its position in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 5.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 30,395 shares of the technology company’s stock after acquiring an additional 1,500 shares during the period. Simmons Bank’s holdings in Check Point Software Technologies were worth $5,860,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Check Point Software Technologies in the second quarter worth $30,000. Kathleen S. Wright Associates Inc. acquired a new stake in Check Point Software Technologies in the third quarter worth about $33,000. Concord Wealth Partners bought a new position in Check Point Software Technologies in the 3rd quarter valued at about $37,000. Arrow Financial Corp increased its stake in Check Point Software Technologies by 62.5% during the 3rd quarter. Arrow Financial Corp now owns 260 shares of the technology company’s stock valued at $50,000 after buying an additional 100 shares during the period. Finally, FSC Wealth Advisors LLC bought a new stake in shares of Check Point Software Technologies during the 3rd quarter worth about $60,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

Check Point Software Technologies Price Performance

Shares of NASDAQ:CHKP opened at $177.81 on Wednesday. The stock has a market capitalization of $19.56 billion, a P/E ratio of 24.29, a P/E/G ratio of 3.04 and a beta of 0.63. The business has a 50-day moving average of $192.28 and a two-hundred day moving average of $175.86. Check Point Software Technologies Ltd. has a fifty-two week low of $139.55 and a fifty-two week high of $210.70.

Check Point Software Technologies (NASDAQ:CHKP) last announced its earnings results on Tuesday, October 29th. The technology company reported $2.25 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $2.25. The firm had revenue of $635.10 million during the quarter, compared to analysts’ expectations of $634.96 million. Check Point Software Technologies had a return on equity of 31.84% and a net margin of 33.17%. The company’s revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.80 earnings per share. As a group, research analysts expect that Check Point Software Technologies Ltd. will post 7.87 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CHKP has been the subject of several recent analyst reports. Bank of America cut shares of Check Point Software Technologies from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $205.00 to $195.00 in a report on Wednesday, October 30th. Scotiabank boosted their price objective on Check Point Software Technologies from $180.00 to $200.00 and gave the stock a “sector outperform” rating in a research note on Thursday, July 25th. JPMorgan Chase & Co. raised their target price on Check Point Software Technologies from $180.00 to $210.00 and gave the company a “neutral” rating in a research note on Monday, October 28th. BMO Capital Markets boosted their price target on shares of Check Point Software Technologies from $200.00 to $238.00 and gave the stock a “market perform” rating in a research report on Friday, October 25th. Finally, Robert W. Baird reduced their price objective on shares of Check Point Software Technologies from $210.00 to $205.00 and set a “neutral” rating for the company in a research report on Wednesday, October 30th. Fifteen investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $197.74.

Check Point Software Technologies Company Profile

Check Point Software Technologies Ltd. develops, markets, and supports a range of products and services for IT security worldwide. The company offers a multilevel security architecture, cloud, network, mobile devices, endpoints information, and IOT solutions. It provides Check Point Infinity Architecture, a cyber security architecture that protects against fifth generation cyber-attacks across various networks, endpoint, cloud, workloads, Internet of Things, and mobile.