Martin Investment Management LLC Purchases 3,225 Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Martin Investment Management LLC raised its position in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 2.0% during the third quarter, HoldingsChannel reports. The firm owned 163,357 shares of the technology company’s stock after buying an additional 3,225 shares during the quarter. Check Point Software Technologies accounts for 7.7% of Martin Investment Management LLC’s holdings, making the stock its 2nd biggest position. Martin Investment Management LLC’s holdings in Check Point Software Technologies were worth $31,497,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Bleakley Financial Group LLC grew its holdings in shares of Check Point Software Technologies by 3.3% during the third quarter. Bleakley Financial Group LLC now owns 1,797 shares of the technology company’s stock worth $346,000 after purchasing an additional 57 shares during the last quarter. Brighton Jones LLC increased its position in Check Point Software Technologies by 5.2% during the third quarter. Brighton Jones LLC now owns 1,337 shares of the technology company’s stock worth $258,000 after buying an additional 66 shares during the period. Patriot Financial Group Insurance Agency LLC lifted its stake in Check Point Software Technologies by 1.2% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 5,402 shares of the technology company’s stock valued at $1,042,000 after buying an additional 66 shares during the last quarter. Heritage Family Offices LLP boosted its holdings in shares of Check Point Software Technologies by 1.6% in the third quarter. Heritage Family Offices LLP now owns 4,884 shares of the technology company’s stock valued at $942,000 after acquiring an additional 77 shares in the last quarter. Finally, Argonautica Private Wealth Management Inc. increased its stake in shares of Check Point Software Technologies by 1.3% during the second quarter. Argonautica Private Wealth Management Inc. now owns 5,928 shares of the technology company’s stock worth $978,000 after acquiring an additional 78 shares during the period. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Check Point Software Technologies Price Performance

NASDAQ CHKP opened at $170.18 on Tuesday. The company has a 50-day moving average of $194.09 and a 200-day moving average of $175.07. Check Point Software Technologies Ltd. has a 12 month low of $136.19 and a 12 month high of $210.70. The company has a market cap of $18.72 billion, a P/E ratio of 23.25, a P/E/G ratio of 2.91 and a beta of 0.63.

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

Analyst Upgrades and Downgrades

Several research firms have issued reports on CHKP. Wedbush boosted their target price on Check Point Software Technologies from $200.00 to $230.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 9th. Truist Financial upped their price objective on Check Point Software Technologies from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. BMO Capital Markets increased their price target on shares of Check Point Software Technologies from $200.00 to $238.00 and gave the company a “market perform” rating in a report on Friday, October 25th. JPMorgan Chase & Co. boosted their target price on Check Point Software Technologies from $180.00 to $210.00 and gave the stock a “neutral” rating in a research report on Monday, October 28th. Finally, Bank of America lowered shares of Check Point Software Technologies from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $205.00 to $195.00 in a research report on Wednesday, October 30th. Fifteen research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target 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.