Forge First Asset Management Inc. Takes Position in Check Point Software Technologies Ltd. $CHKP

Forge First Asset Management Inc. purchased a new position in Check Point Software Technologies Ltd. (NASDAQ:CHKP) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 25,900 shares of the technology company’s stock, valued at approximately $5,730,000. Check Point Software Technologies accounts for about 2.1% of Forge First Asset Management Inc.’s portfolio, making the stock its 18th largest holding.

Other hedge funds have also recently bought and sold shares of the company. Invesco Ltd. boosted its position in Check Point Software Technologies by 737.5% during the first quarter. Invesco Ltd. now owns 982,986 shares of the technology company’s stock worth $224,042,000 after purchasing an additional 865,608 shares in the last quarter. Westfield Capital Management Co. LP boosted its position in shares of Check Point Software Technologies by 214.6% in the 1st quarter. Westfield Capital Management Co. LP now owns 864,717 shares of the technology company’s stock worth $197,086,000 after buying an additional 589,816 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Check Point Software Technologies by 43.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,483,714 shares of the technology company’s stock valued at $338,168,000 after acquiring an additional 450,099 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in Check Point Software Technologies by 28.1% during the 1st quarter. Ameriprise Financial Inc. now owns 1,830,874 shares of the technology company’s stock valued at $417,280,000 after acquiring an additional 401,150 shares in the last quarter. Finally, Nuveen LLC acquired a new position in Check Point Software Technologies during the first quarter worth about $88,286,000. 98.51% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Royal Bank Of Canada raised their price objective on shares of Check Point Software Technologies from $207.00 to $215.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 29th. Cantor Fitzgerald reissued a “neutral” rating and set a $220.00 price target on shares of Check Point Software Technologies in a research report on Wednesday, October 22nd. Stephens reduced their price objective on Check Point Software Technologies from $229.00 to $210.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 31st. Mizuho set a $225.00 price objective on Check Point Software Technologies in a research report on Wednesday, October 29th. Finally, Stifel Nicolaus set a $211.00 target price on shares of Check Point Software Technologies in a research note on Tuesday, October 28th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and fifteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Check Point Software Technologies has a consensus rating of “Hold” and a consensus target price of $230.48.

Check Point Software Technologies Trading Down 0.7%

NASDAQ CHKP opened at $190.70 on Wednesday. The business’s 50-day moving average price is $197.79 and its 200 day moving average price is $206.51. Check Point Software Technologies Ltd. has a twelve month low of $170.99 and a twelve month high of $234.35. The company has a market capitalization of $20.97 billion, a PE ratio of 20.89, a price-to-earnings-growth ratio of 2.97 and a beta of 0.58.

Check Point Software Technologies (NASDAQ:CHKP) last posted its quarterly earnings results on Tuesday, October 28th. The technology company reported $3.94 EPS for the quarter, beating the consensus estimate of $2.45 by $1.49. The company had revenue of $677.50 million during the quarter, compared to analysts’ expectations of $673.60 million. Check Point Software Technologies had a return on equity of 37.91% and a net margin of 37.62%.The firm’s revenue was up 6.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.25 EPS. Check Point Software Technologies has set its FY 2025 guidance at 11.220-11.320 EPS. Q4 2025 guidance at 2.700-2.800 EPS. Equities analysts predict that Check Point Software Technologies Ltd. will post 8.61 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.