Zurcher Kantonalbank Zurich Cantonalbank Buys 3,418 Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 5.7% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 63,786 shares of the technology company’s stock after acquiring an additional 3,418 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Check Point Software Technologies were worth $12,299,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Check Point Software Technologies during the 2nd quarter worth $30,000. Kathleen S. Wright Associates Inc. bought a new position in shares of Check Point Software Technologies during the third quarter valued at about $33,000. Concord Wealth Partners purchased a new position in Check Point Software Technologies during the third quarter worth about $37,000. Arrow Financial Corp grew its position in Check Point Software Technologies by 62.5% in the 3rd quarter. Arrow Financial Corp now owns 260 shares of the technology company’s stock worth $50,000 after purchasing an additional 100 shares in the last quarter. Finally, FSC Wealth Advisors LLC purchased a new stake in Check Point Software Technologies in the 3rd quarter valued at about $60,000. 87.62% of the stock is owned by hedge funds and other institutional investors.

Check Point Software Technologies Stock Performance

Shares of CHKP stock opened at $182.00 on Friday. The company has a market capitalization of $20.02 billion, a PE ratio of 24.86, a price-to-earnings-growth ratio of 3.10 and a beta of 0.63. The business’s fifty day moving average is $189.23 and its 200 day moving average is $178.21. Check Point Software Technologies Ltd. has a 52-week low of $143.28 and a 52-week high of $210.70.

Check Point Software Technologies (NASDAQ:CHKP) last posted its quarterly earnings data on Tuesday, October 29th. The technology company reported $2.25 earnings per share for the quarter, hitting the consensus estimate of $2.25. The company had revenue of $635.10 million for the quarter, compared to analysts’ expectations 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 for the quarter was up 6.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.80 earnings per share. On average, sell-side analysts forecast that Check Point Software Technologies Ltd. will post 7.86 EPS for the current fiscal year.

Analysts Set New Price Targets

CHKP has been the topic of a number of research analyst reports. Barclays cut their target price on Check Point Software Technologies from $210.00 to $200.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 29th. BMO Capital Markets boosted their price objective 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. Robert W. Baird decreased their target price 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. Needham & Company LLC reissued a “hold” rating on shares of Check Point Software Technologies in a report on Wednesday, October 30th. Finally, Truist Financial raised their price objective on shares of Check Point Software Technologies from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Fifteen investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average 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.