Pinnacle West Asset Management Inc. Invests $201,000 in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Pinnacle West Asset Management Inc. bought a new position in Check Point Software Technologies Ltd. (NASDAQ:CHKP) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,040 shares of the technology company’s stock, valued at approximately $201,000.

A number of other institutional investors have also recently modified their holdings of CHKP. Swedbank AB purchased a new stake in shares of Check Point Software Technologies during the first quarter valued at $69,487,000. Boston Partners boosted its position in shares of Check Point Software Technologies by 13.1% during the first quarter. Boston Partners now owns 3,623,923 shares of the technology company’s stock valued at $594,169,000 after buying an additional 419,404 shares during the last quarter. Acadian Asset Management LLC boosted its position in shares of Check Point Software Technologies by 10.5% during the second quarter. Acadian Asset Management LLC now owns 4,108,685 shares of the technology company’s stock valued at $677,869,000 after buying an additional 391,983 shares during the last quarter. Marshall Wace LLP purchased a new stake in shares of Check Point Software Technologies during the second quarter valued at $47,244,000. Finally, Meitav Investment House Ltd. boosted its position in shares of Check Point Software Technologies by 1,295.8% during the second quarter. Meitav Investment House Ltd. now owns 209,612 shares of the technology company’s stock valued at $34,557,000 after buying an additional 194,595 shares during the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on CHKP shares. Scotiabank increased their price objective on Check Point Software Technologies from $180.00 to $200.00 and gave the company a “sector outperform” rating in a research report on Thursday, July 25th. Robert W. Baird raised their target price on Check Point Software Technologies from $200.00 to $210.00 and gave the stock a “neutral” rating in a research report on Tuesday. Royal Bank of Canada raised their target price on Check Point Software Technologies from $165.00 to $187.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 25th. Truist Financial raised their target price on Check Point Software Technologies from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Jefferies Financial Group raised their target price on Check Point Software Technologies from $210.00 to $225.00 and gave the stock a “buy” rating in a research report on Tuesday, September 24th. Fifteen investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $192.56.

Check Point Software Technologies Trading Down 0.0 %

CHKP traded down $0.06 on Thursday, hitting $205.32. 121,585 shares of the company’s stock traded hands, compared to its average volume of 674,208. The company’s 50 day simple moving average is $194.49 and its 200-day simple moving average is $173.59. The firm has a market cap of $23.18 billion, a price-to-earnings ratio of 28.65, a P/E/G ratio of 3.17 and a beta of 0.62. Check Point Software Technologies Ltd. has a one year low of $126.57 and a one year high of $210.70.

Check Point Software Technologies (NASDAQ:CHKP) last released its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.17 earnings per share for the quarter, beating the consensus estimate of $2.16 by $0.01. The business had revenue of $627.40 million during the quarter, compared to analysts’ expectations of $623.19 million. Check Point Software Technologies had a return on equity of 31.59% and a net margin of 33.61%. The firm’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.74 EPS. As a group, equities analysts anticipate that Check Point Software Technologies Ltd. will post 7.83 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.