Check Point Software Technologies Ltd. $CHKP Shares Acquired by Evergreen Private Wealth LLC

Evergreen Private Wealth LLC boosted its holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 10.6% during the third quarter, Holdings Channel reports. The fund owned 55,819 shares of the technology company’s stock after purchasing an additional 5,332 shares during the period. Check Point Software Technologies makes up 2.6% of Evergreen Private Wealth LLC’s holdings, making the stock its 15th largest holding. Evergreen Private Wealth LLC’s holdings in Check Point Software Technologies were worth $7,164,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in CHKP. JNBA Financial Advisors lifted its stake in shares of Check Point Software Technologies by 90.0% during the 2nd quarter. JNBA Financial Advisors now owns 190 shares of the technology company’s stock worth $25,000 after buying an additional 90 shares during the last quarter. Ascentis Independent Advisors bought a new stake in shares of Check Point Software Technologies during the 1st quarter worth about $30,000. Western Wealth Management LLC acquired a new position in Check Point Software Technologies in the 1st quarter valued at about $33,000. Oslo Pensjonsforsikring AS acquired a new position in Check Point Software Technologies in the 1st quarter valued at about $36,000. Finally, Elevation Wealth Partners LLC grew its stake in Check Point Software Technologies by 42.7% in the 2nd quarter. Elevation Wealth Partners LLC now owns 254 shares of the technology company’s stock valued at $33,000 after buying an additional 76 shares during the last quarter. Institutional investors own 98.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CHKP shares. Yorkville Ives began coverage on shares of Check Point Software Technologies in a report on Wednesday, October 7th. They issued an “outperform” rating and a $150.00 price target on the stock. Bank of America boosted their price objective on Check Point Software Technologies from $120.00 to $140.00 and gave the stock a “neutral” rating in a report on Monday, July 27th. The Goldman Sachs Group decreased their target price on Check Point Software Technologies from $168.00 to $150.00 and set a “neutral” rating on the stock in a research report on Saturday, August 1st. Royal Bank Of Canada increased their target price on Check Point Software Technologies from $135.00 to $140.00 and gave the stock a “sector perform” rating in a research note on Tuesday. Finally, UBS Group lifted their price target on Check Point Software Technologies from $145.00 to $150.00 and gave the stock a “neutral” rating in a report on Tuesday. Ten investment analysts have rated the stock with a Buy rating and twenty have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $151.32.

Check Point Software Technologies Price Performance

NASDAQ:CHKP opened at $142.28 on Wednesday. Check Point Software Technologies Ltd. has a 52 week low of $112.23 and a 52 week high of $206.43. The firm has a market cap of $14.53 billion, a price-to-earnings ratio of 15.81, a P/E/G ratio of 4.05 and a beta of 0.43. The firm’s 50-day simple moving average is $137.84 and its 200 day simple moving average is $141.29. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.67 and a current ratio of 1.67.

Check Point Software Technologies (NASDAQ:CHKP) last issued its quarterly earnings data on Monday, November 2nd. The technology company reported $2.49 earnings per share for the quarter, topping the consensus estimate of $2.48 by $0.01. The business had revenue of $669.80 million during the quarter, compared to analysts’ expectations of $672.06 million. Check Point Software Technologies had a net margin of 31.74% and a return on equity of 33.56%. The business’s revenue was down 1.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.94 EPS. As a group, sell-side analysts predict that Check Point Software Technologies Ltd. will post 8.45 earnings per share for the current year.

Insider Buying and Selling at Check Point Software Technologies

In other news, insider Nataly Kremer sold 3,185 shares of Check Point Software Technologies stock in a transaction that occurred on Thursday, October 22nd. The shares were sold at an average price of $150.08, for a total value of $478,004.80. Following the completion of the sale, the insider directly owned 19,347 shares in the company, valued at approximately $2,903,597.76. The trade was a 14.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 29.00% of the company’s stock.

Check Point Software Technologies News Summary

Here are the key news stories impacting Check Point Software Technologies this week:

• Positive Sentiment: Jefferies kept its “buy” rating and sees a $175 price target, while Robert W. Baird maintained “outperform” with a $170 target. Both targets were reduced, but still imply meaningful upside from the reference price.
• Positive Sentiment: Cloud-based subscription revenue grew 11% in Q3, supporting the view that the company’s transition to recurring offerings could help drive a turnaround. Check Point also appointed Adam Ely as chief business officer to lead its company-wide growth strategy. Check Point’s turnaround analysis Chief business officer appointment
• Neutral Sentiment: Analyst reactions were mixed. Citigroup, JPMorgan, UBS, Barclays and RBC adjusted targets, but retained neutral, equal-weight or sector-perform stances. Their new targets range from $140 to $155, signaling limited near-term conviction.
• Negative Sentiment: Q3 revenue was $669.8 million, below the $672.1 million consensus and down 1.1% year over year. EPS of $2.49 narrowly beat the $2.48 estimate, but was below the year-ago $3.94. Reports also highlighted a 19% drop in products and licenses revenue, which may weigh on future maintenance revenue.
• Negative Sentiment: Fourth-quarter revenue guidance of $720–$770 million fell short of the $787.3 million consensus, and the CEO indicated recovery is taking longer than anticipated. Full-year EPS guidance is above consensus, but revenue guidance of $2.7–$2.8 billion reaches consensus only at the top end. These outlook concerns are a likely source of pressure on the shares. Revenue miss and recovery outlook

About Check Point Software Technologies

Check Point Software Technologies Ltd. is a cybersecurity company that develops products and services designed to protect organizations, governments and consumers from cyber threats. Its offerings help secure networks, cloud environments, endpoints, mobile devices, data and remote access, with capabilities including threat prevention, firewall protection, intrusion prevention, email security and security management.

The company organizes its portfolio under platforms that include Quantum for network security, CloudGuard for cloud security and Harmony for user, endpoint and remote-access protection.