Chevy Chase Trust Holdings LLC Has $4.50 Million Position in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Chevy Chase Trust Holdings LLC grew its holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 69.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 23,351 shares of the technology company’s stock after buying an additional 9,580 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Check Point Software Technologies were worth $4,502,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. FSA Wealth Management LLC bought a new position in Check Point Software Technologies in the 3rd quarter worth approximately $27,000. Kathleen S. Wright Associates Inc. acquired a new stake in shares of Check Point Software Technologies in the 3rd quarter valued at $33,000. Concord Wealth Partners bought a new stake in shares of Check Point Software Technologies during the third quarter worth $37,000. Arrow Financial Corp raised its position in shares of Check Point Software Technologies by 62.5% during the third quarter. Arrow Financial Corp now owns 260 shares of the technology company’s stock worth $50,000 after acquiring an additional 100 shares during the last quarter. Finally, FSC Wealth Advisors LLC acquired a new position in shares of Check Point Software Technologies during the third quarter valued at $60,000. 87.62% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on CHKP shares. JPMorgan Chase & Co. lifted their price objective 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. Jefferies Financial Group lifted their price target on shares of Check Point Software Technologies from $210.00 to $225.00 and gave the stock a “buy” rating in a research report on Tuesday, September 24th. Royal Bank of Canada restated a “sector perform” rating and issued a $187.00 price objective on shares of Check Point Software Technologies in a report on Wednesday, October 30th. Robert W. Baird lowered their target price on shares of Check Point Software Technologies from $210.00 to $205.00 and set a “neutral” rating for the company in a report on Wednesday, October 30th. Finally, Truist Financial upped their target price on shares of Check Point Software Technologies from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Fifteen equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Check Point Software Technologies presently has an average rating of “Hold” and a consensus target price of $197.74.

Check Point Software Technologies Price Performance

NASDAQ CHKP opened at $186.82 on Friday. Check Point Software Technologies Ltd. has a one year low of $143.28 and a one year high of $210.70. The firm has a market cap of $20.55 billion, a P/E ratio of 25.52, a P/E/G ratio of 3.19 and a beta of 0.63. The stock’s 50-day moving average is $188.59 and its 200-day moving average is $179.03.

Check Point Software Technologies (NASDAQ:CHKP) last announced its 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 firm had revenue of $635.10 million for the quarter, compared to the consensus estimate of $634.96 million. During the same period last year, the company posted $1.80 EPS. The business’s quarterly revenue was up 6.5% on a year-over-year basis. Equities analysts anticipate that Check Point Software Technologies Ltd. will post 7.86 EPS for the current year.

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.