Front Barnett Associates LLC Grows Holdings in Check Point Software Technologies Ltd. (CHKP)

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Front Barnett Associates LLC boosted its holdings in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 1.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 101,415 shares of the technology company’s stock after buying an additional 1,218 shares during the quarter. Check Point Software Technologies accounts for 1.8% of Front Barnett Associates LLC’s investment portfolio, making the stock its 19th largest position. Front Barnett Associates LLC’s holdings in Check Point Software Technologies were worth $11,934,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Tower Research Capital LLC TRC acquired a new stake in Check Point Software Technologies during the 2nd quarter worth approximately $105,000. Fort L.P. acquired a new stake in Check Point Software Technologies during the 2nd quarter worth approximately $120,000. Stratos Wealth Partners LTD. acquired a new stake in Check Point Software Technologies during the 3rd quarter worth approximately $167,000. Legacy Financial Advisors Inc. lifted its holdings in Check Point Software Technologies by 1,650.0% during the 2nd quarter. Legacy Financial Advisors Inc. now owns 1,645 shares of the technology company’s stock worth $180,000 after buying an additional 1,551 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC lifted its holdings in Check Point Software Technologies by 50.3% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 1,692 shares of the technology company’s stock worth $165,000 after buying an additional 566 shares in the last quarter. Institutional investors own 66.46% of the company’s stock.

Shares of NASDAQ:CHKP opened at $112.64 on Friday. Check Point Software Technologies Ltd. has a 52 week low of $93.76 and a 52 week high of $120.81. The company has a market capitalization of $18.44 billion, a price-to-earnings ratio of 21.83, a PEG ratio of 2.25 and a beta of 0.68.

Check Point Software Technologies (NASDAQ:CHKP) last announced its quarterly earnings data on Wednesday, October 24th. The technology company reported $1.38 EPS for the quarter, beating the Zacks’ consensus estimate of $1.36 by $0.02. The company had revenue of $470.80 million for the quarter, compared to the consensus estimate of $465.94 million. Check Point Software Technologies had a net margin of 43.35% and a return on equity of 23.04%. The company’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.30 EPS. As a group, equities research analysts anticipate that Check Point Software Technologies Ltd. will post 5.2 earnings per share for the current year.

A number of research firms have issued reports on CHKP. Zacks Investment Research upgraded shares of Check Point Software Technologies from a “hold” rating to a “buy” rating and set a $127.00 target price on the stock in a report on Monday, August 6th. Credit Suisse Group increased their target price on shares of Check Point Software Technologies from $100.00 to $105.00 and gave the stock a “neutral” rating in a report on Thursday, July 26th. BidaskClub lowered shares of Check Point Software Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, October 9th. BMO Capital Markets increased their price objective on shares of Check Point Software Technologies from $108.00 to $130.00 and gave the company a “market perform” rating in a research report on Thursday, July 26th. Finally, Wedbush initiated coverage on shares of Check Point Software Technologies in a research report on Thursday, October 18th. They issued an “outperform” rating and a $140.00 price objective on the stock. Nineteen research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Check Point Software Technologies presently has a consensus rating of “Hold” and an average price target of $115.33.

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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 portfolio of network and gateway solutions, management solutions, and data and endpoint security solutions. It provides Check Point Infinity Architecture, a cyber security architecture that protects against 5th generation mega cyber-attacks across various networks, endpoint, cloud, and mobile; security gateways from platforms for small business and small office locations, high end and high demanding data centers, and perimeter environments; and Check Point SandBlast family for threat prevention and zero-day protections.

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Institutional Ownership by Quarter for Check Point Software Technologies (NASDAQ:CHKP)

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