Eastern Bank Invests $234,000 in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Eastern Bank acquired a new position in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 1,212 shares of the technology company’s stock, valued at approximately $234,000.

A number of other institutional investors and hedge funds have also made changes to their positions in CHKP. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Check Point Software Technologies in the 2nd quarter valued at $30,000. Concord Wealth Partners acquired a new stake in Check Point Software Technologies in the 1st quarter valued at $31,000. Kathleen S. Wright Associates Inc. acquired a new stake in Check Point Software Technologies in the 3rd quarter valued at $33,000. Sound Income Strategies LLC grew its stake in shares of Check Point Software Technologies by 654.4% during the third quarter. Sound Income Strategies LLC now owns 430 shares of the technology company’s stock valued at $83,000 after acquiring an additional 373 shares in the last quarter. Finally, Transcendent Capital Group LLC acquired a new stake in shares of Check Point Software Technologies during the first quarter valued at about $107,000. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CHKP. Deutsche Bank Aktiengesellschaft raised their target price on Check Point Software Technologies from $175.00 to $185.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. BMO Capital Markets raised their target price on Check Point Software Technologies from $180.00 to $200.00 and gave the company a “market perform” rating in a research note on Thursday, July 25th. JPMorgan Chase & Co. raised their target price on Check Point Software Technologies from $175.00 to $180.00 and gave the company a “neutral” rating in a research note on Thursday, July 25th. Scotiabank raised their target price on Check Point Software Technologies from $180.00 to $200.00 and gave the company a “sector outperform” rating in a research note on Thursday, July 25th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Check Point Software Technologies in a research report on Thursday, July 25th. Fifteen equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, Check Point Software Technologies presently has a consensus rating of “Hold” and an average price target of $192.56.

Check Point Software Technologies Stock Up 0.0 %

Shares of NASDAQ CHKP opened at $205.40 on Friday. The firm’s 50-day moving average price is $194.49 and its two-hundred day moving average price is $173.59. Check Point Software Technologies Ltd. has a 52-week low of $126.57 and a 52-week high of $210.70. The stock has a market capitalization of $23.19 billion, a P/E ratio of 28.53, a P/E/G ratio of 3.17 and a beta of 0.62.

Check Point Software Technologies (NASDAQ:CHKP) last announced its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.17 EPS for the quarter, beating the consensus estimate of $2.16 by $0.01. Check Point Software Technologies had a net margin of 33.61% and a return on equity of 31.59%. The company had revenue of $627.40 million for the quarter, compared to analyst estimates of $623.19 million. During the same quarter last year, the business earned $1.74 earnings per share. Check Point Software Technologies’s revenue was up 6.6% compared to the same quarter last year. As a group, equities research analysts expect that Check Point Software Technologies Ltd. will post 7.83 earnings per share 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.