Heritage Family Offices LLP Boosts Stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Heritage Family Offices LLP increased its stake in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 8.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,297 shares of the technology company’s stock after buying an additional 413 shares during the quarter. Heritage Family Offices LLP’s holdings in Check Point Software Technologies were worth $989,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in CHKP. Bank of Montreal Can grew its stake in Check Point Software Technologies by 32.2% during the 3rd quarter. Bank of Montreal Can now owns 85,639 shares of the technology company’s stock valued at $16,532,000 after purchasing an additional 20,866 shares during the last quarter. CWA Asset Management Group LLC purchased a new stake in Check Point Software Technologies in the third quarter valued at approximately $1,599,000. MML Investors Services LLC increased its holdings in Check Point Software Technologies by 3.7% in the 3rd quarter. MML Investors Services LLC now owns 103,507 shares of the technology company’s stock worth $19,957,000 after buying an additional 3,655 shares during the period. Martin Investment Management LLC raised its position in Check Point Software Technologies by 2.0% during the 3rd quarter. Martin Investment Management LLC now owns 163,357 shares of the technology company’s stock worth $31,497,000 after buying an additional 3,225 shares during the last quarter. Finally, Chevy Chase Trust Holdings LLC lifted its stake in Check Point Software Technologies by 69.6% during the 3rd quarter. Chevy Chase Trust Holdings LLC now owns 23,351 shares of the technology company’s stock valued at $4,502,000 after acquiring an additional 9,580 shares during the period. 98.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CHKP. Stifel Nicolaus increased their price objective on shares of Check Point Software Technologies from $182.00 to $190.00 and gave the stock a “hold” rating in a research note on Wednesday, December 18th. BMO Capital Markets increased their price target on 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. Truist Financial boosted their price objective on Check Point Software Technologies from $200.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Evercore ISI raised their target price on Check Point Software Technologies from $180.00 to $185.00 and gave the stock an “in-line” rating in a report on Wednesday, October 30th. Finally, Robert W. Baird reduced their price target on 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. Sixteen analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Check Point Software Technologies has a consensus rating of “Hold” and an average price target of $202.95.

Check Point Software Technologies Price Performance

NASDAQ CHKP opened at $183.40 on Thursday. The stock’s 50 day simple moving average is $183.36 and its 200-day simple moving average is $185.45. The company has a market cap of $20.17 billion, a PE ratio of 25.05, a price-to-earnings-growth ratio of 2.86 and a beta of 0.63. Check Point Software Technologies Ltd. has a 1-year low of $145.75 and a 1-year 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, meeting analysts’ consensus estimates of $2.25. Check Point Software Technologies had a return on equity of 31.84% and a net margin of 33.17%. The company had revenue of $635.10 million for the quarter, compared to analyst estimates of $634.96 million. During the same quarter last year, the firm posted $1.80 EPS. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. On average, equities research analysts anticipate 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.