City State Bank Takes Position in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

City State Bank bought a new stake in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 825 shares of the technology company’s stock, valued at approximately $154,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. FSA Wealth Management LLC acquired a new position in shares of Check Point Software Technologies during the 3rd quarter worth about $27,000. GAMMA Investing LLC grew its stake in Check Point Software Technologies by 53.1% during the 4th quarter. GAMMA Investing LLC now owns 173 shares of the technology company’s stock valued at $32,000 after acquiring an additional 60 shares in the last quarter. Kathleen S. Wright Associates Inc. purchased a new stake in Check Point Software Technologies during the 3rd quarter valued at about $33,000. Concord Wealth Partners purchased a new stake in Check Point Software Technologies during the 3rd quarter valued at about $37,000. Finally, Arrow Financial Corp grew its stake in Check Point Software Technologies by 62.5% during the 3rd quarter. Arrow Financial Corp now owns 260 shares of the technology company’s stock valued at $50,000 after acquiring an additional 100 shares in the last quarter. 98.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CHKP has been the subject of several analyst reports. The Goldman Sachs Group cut shares of Check Point Software Technologies from a “buy” rating to a “neutral” rating and increased their price target for the company from $204.00 to $207.00 in a research note on Thursday, January 2nd. Wedbush increased their price target on shares of Check Point Software Technologies from $200.00 to $230.00 and gave the company an “outperform” rating in a research note on Wednesday, October 9th. Stifel Nicolaus increased their price target on shares of Check Point Software Technologies from $182.00 to $190.00 and gave the company a “hold” rating in a research note on Wednesday, December 18th. Needham & Company LLC reissued a “hold” rating on shares of Check Point Software Technologies in a research note on Wednesday, October 30th. Finally, Piper Sandler increased their price target on shares of Check Point Software Technologies from $185.00 to $195.00 and gave the company a “neutral” rating in a research note on Monday, January 6th. Sixteen equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $202.95.

Check Point Software Technologies Stock Up 0.4 %

Check Point Software Technologies stock opened at $182.69 on Tuesday. The firm has a market cap of $20.09 billion, a PE ratio of 24.96, a price-to-earnings-growth ratio of 3.21 and a beta of 0.63. Check Point Software Technologies Ltd. has a 52-week low of $145.75 and a 52-week high of $210.70. The company’s 50 day moving average is $183.12 and its two-hundred day moving average is $185.32.

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 net margin of 33.17% and a return on equity of 31.84%. The business had revenue of $635.10 million for the quarter, compared to analyst estimates of $634.96 million. During the same period last year, the business earned $1.80 EPS. The company’s revenue 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 earnings per share 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.