Hennion & Walsh Asset Management Inc. Raises Position in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Hennion & Walsh Asset Management Inc. increased its stake in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 6.1% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,176 shares of the technology company’s stock after purchasing an additional 354 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Check Point Software Technologies were worth $1,408,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Nemes Rush Group LLC purchased a new position in Check Point Software Technologies during the 4th quarter valued at about $25,000. Capital A Wealth Management LLC acquired a new position in shares of Check Point Software Technologies in the 4th quarter valued at $29,000. Golden State Wealth Management LLC acquired a new position in shares of Check Point Software Technologies in the 4th quarter valued at $35,000. Strategic Financial Concepts LLC acquired a new position in shares of Check Point Software Technologies in the 4th quarter valued at $35,000. Finally, Quarry LP raised its position in Check Point Software Technologies by 100.0% during the fourth quarter. Quarry LP now owns 206 shares of the technology company’s stock worth $38,000 after acquiring an additional 103 shares during the period. 98.51% of the stock is owned by hedge funds and other institutional investors.

Check Point Software Technologies Stock Performance

Shares of CHKP opened at $233.47 on Friday. The stock’s fifty day moving average is $219.21 and its 200-day moving average is $208.72. The firm has a market capitalization of $25.68 billion, a price-to-earnings ratio of 31.25, a price-to-earnings-growth ratio of 3.41 and a beta of 0.66. Check Point Software Technologies Ltd. has a one year low of $152.91 and a one year high of $234.36.

Check Point Software Technologies (NASDAQ:CHKP) last announced its quarterly earnings data on Wednesday, April 23rd. The technology company reported $2.21 EPS for the quarter, topping analysts’ consensus estimates of $2.19 by $0.02. The firm had revenue of $637.80 million during the quarter, compared to analyst estimates of $635.80 million. Check Point Software Technologies had a return on equity of 32.40% and a net margin of 32.97%. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period last year, the company posted $2.04 EPS. Analysts forecast that Check Point Software Technologies Ltd. will post 8.61 EPS for the current fiscal year.

Analyst Ratings Changes

CHKP has been the topic of a number of recent analyst reports. Wall Street Zen raised shares of Check Point Software Technologies from a “hold” rating to a “buy” rating in a research report on Tuesday, May 13th. Compass Point set a $260.00 price target on shares of Check Point Software Technologies in a research note on Thursday, March 27th. Baird R W upgraded shares of Check Point Software Technologies from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 27th. Piper Sandler upgraded shares of Check Point Software Technologies from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $220.00 to $260.00 in a research report on Monday, March 3rd. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $215.00 target price on shares of Check Point Software Technologies in a report on Thursday, February 27th. Sixteen equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $232.04.

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.