Davis Capital Management Purchases 2,325 Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Davis Capital Management increased its stake in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 141.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 3,974 shares of the technology company’s stock after purchasing an additional 2,325 shares during the period. Davis Capital Management’s holdings in Check Point Software Technologies were worth $742,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Beaumont Financial Advisors LLC bought a new position in shares of Check Point Software Technologies during the fourth quarter worth $268,000. Ballentine Partners LLC bought a new position in shares of Check Point Software Technologies during the fourth quarter worth $223,000. Koshinski Asset Management Inc. boosted its position in shares of Check Point Software Technologies by 5.3% during the fourth quarter. Koshinski Asset Management Inc. now owns 3,176 shares of the technology company’s stock worth $593,000 after acquiring an additional 160 shares during the last quarter. Diversify Advisory Services LLC bought a new position in shares of Check Point Software Technologies during the fourth quarter worth $201,000. Finally, Diversify Wealth Management LLC bought a new position in shares of Check Point Software Technologies during the fourth quarter worth $728,000. Institutional investors own 98.51% of the company’s stock.

Check Point Software Technologies Price Performance

CHKP stock opened at $192.96 on Wednesday. The company has a market capitalization of $21.22 billion, a PE ratio of 26.36, a P/E/G ratio of 2.95 and a beta of 0.63. Check Point Software Technologies Ltd. has a 12 month low of $145.75 and a 12 month high of $210.70. The firm’s 50-day moving average is $184.17 and its 200 day moving average is $185.99.

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

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CHKP. JPMorgan Chase & Co. upped their target price on shares of 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. Truist Financial upped their price target on shares of Check Point Software Technologies from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Evercore ISI upped their price target on shares of Check Point Software Technologies from $180.00 to $185.00 and gave the company an “in-line” rating in a research note on Wednesday, October 30th. Needham & Company LLC reaffirmed a “hold” rating on shares of Check Point Software Technologies in a research note on Wednesday, October 30th. Finally, Wedbush upped 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. Seventeen equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $203.05.

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.