Cardinal Capital Management Buys 844 Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Cardinal Capital Management lifted its stake in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 12.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,616 shares of the technology company’s stock after buying an additional 844 shares during the quarter. Cardinal Capital Management’s holdings in Check Point Software Technologies were worth $1,249,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Bruce G. Allen Investments LLC bought a new position in shares of Check Point Software Technologies in the 4th quarter worth about $30,000. Richardson Financial Services Inc. purchased a new stake in Check Point Software Technologies in the fourth quarter worth about $33,000. Salem Investment Counselors Inc. increased its stake in shares of Check Point Software Technologies by 483.7% during the fourth quarter. Salem Investment Counselors Inc. now owns 286 shares of the technology company’s stock valued at $44,000 after purchasing an additional 237 shares in the last quarter. Operose Advisors LLC purchased a new position in shares of Check Point Software Technologies during the third quarter valued at approximately $55,000. Finally, Y.D. More Investments Ltd boosted its position in shares of Check Point Software Technologies by 37.0% in the 4th quarter. Y.D. More Investments Ltd now owns 500 shares of the technology company’s stock worth $76,000 after purchasing an additional 135 shares in the last quarter. 87.62% of the stock is owned by institutional investors.

Check Point Software Technologies Stock Performance

NASDAQ:CHKP opened at $162.70 on Friday. The stock has a 50-day simple moving average of $153.92 and a two-hundred day simple moving average of $157.16. The firm has a market capitalization of $18.37 billion, a PE ratio of 22.60, a P/E/G ratio of 2.47 and a beta of 0.61. Check Point Software Technologies Ltd. has a 52-week low of $122.86 and a 52-week high of $168.82.

Check Point Software Technologies (NASDAQ:CHKP) last issued its earnings results on Thursday, April 25th. The technology company reported $1.72 earnings per share for the quarter, hitting the consensus estimate of $1.72. Check Point Software Technologies had a net margin of 34.33% and a return on equity of 31.42%. The company had revenue of $598.80 million during the quarter, compared to the consensus estimate of $595.28 million. Equities analysts forecast that Check Point Software Technologies Ltd. will post 7.79 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on CHKP shares. Wedbush reiterated an “outperform” rating and set a $185.00 price objective on shares of Check Point Software Technologies in a research note on Friday, April 26th. KeyCorp raised Check Point Software Technologies to a “hold” rating in a research report on Tuesday, May 14th. Mizuho reissued a “neutral” rating and set a $160.00 price objective on shares of Check Point Software Technologies in a research report on Wednesday, March 27th. TD Cowen lifted their target price on shares of Check Point Software Technologies from $180.00 to $205.00 and gave the stock an “outperform” rating in a report on Monday, March 18th. Finally, Stifel Nicolaus dropped their target price on shares of Check Point Software Technologies from $170.00 to $165.00 and set a “hold” rating on the stock in a research note on Friday, April 26th. Thirteen equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $169.18.

Check Point Software Technologies 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.