Peapack Gladstone Financial Corp Buys 872 Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Peapack Gladstone Financial Corp boosted its position in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 0.8% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 111,316 shares of the technology company’s stock after acquiring an additional 872 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in Check Point Software Technologies were worth $21,463,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. FSA Wealth Management LLC purchased a new stake in shares of Check Point Software Technologies in the third quarter worth $27,000. Kathleen S. Wright Associates Inc. bought a new position in Check Point Software Technologies in the third quarter worth $33,000. Concord Wealth Partners bought a new position in Check Point Software Technologies in the third quarter worth $37,000. Arrow Financial Corp boosted its position in shares of Check Point Software Technologies by 62.5% during the third 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 last quarter. Finally, FSC Wealth Advisors LLC purchased a new stake in shares of Check Point Software Technologies during the third quarter valued at $60,000. 98.51% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on CHKP shares. BMO Capital Markets lifted their price objective on Check Point Software Technologies from $200.00 to $238.00 and gave the company a “market perform” rating in a research report on Friday, October 25th. Bank of America lowered Check Point Software Technologies from a “buy” rating to a “neutral” rating and reduced their target price for the company from $205.00 to $195.00 in a research report on Wednesday, October 30th. Evercore ISI upped their target price on Check Point Software Technologies from $180.00 to $185.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 30th. Robert W. Baird lowered their price target on Check Point Software Technologies from $210.00 to $205.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 30th. Finally, Barclays cut their price target on Check Point Software Technologies from $210.00 to $200.00 and set an “equal weight” rating for the company in a report on Tuesday, October 29th. Fifteen investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Check Point Software Technologies presently has a consensus rating of “Hold” and an average price target of $197.74.

Check Point Software Technologies Stock Performance

NASDAQ CHKP opened at $189.50 on Friday. The company has a market capitalization of $20.84 billion, a PE ratio of 25.89, a price-to-earnings-growth ratio of 3.21 and a beta of 0.63. The company has a 50-day simple moving average of $188.23 and a 200 day simple moving average of $180.24. Check Point Software Technologies Ltd. has a 52-week low of $144.66 and a 52-week high of $210.70.

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

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 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.