Norges Bank Acquires New Holdings in Check Point Software Technologies Ltd. $CHKP

Norges Bank bought a new position in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 3,230,738 shares of the technology company’s stock, valued at approximately $714,801,000. Norges Bank owned 2.94% of Check Point Software Technologies at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC acquired a new position in shares of Check Point Software Technologies during the second quarter worth $25,000. Horizon Investments LLC raised its position in Check Point Software Technologies by 116.4% during the 1st quarter. Horizon Investments LLC now owns 158 shares of the technology company’s stock worth $36,000 after purchasing an additional 85 shares during the last quarter. AlphaCore Capital LLC acquired a new position in Check Point Software Technologies during the 2nd quarter worth about $43,000. Summit Securities Group LLC bought a new stake in shares of Check Point Software Technologies in the 1st quarter valued at about $49,000. Finally, Costello Asset Management INC bought a new stake in shares of Check Point Software Technologies in the 1st quarter valued at about $62,000. 98.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on CHKP shares. Weiss Ratings raised Check Point Software Technologies from a “hold (c)” rating to a “buy (b-)” rating in a research note on Thursday, October 30th. BMO Capital Markets raised their price target on shares of Check Point Software Technologies from $215.00 to $240.00 and gave the stock an “outperform” rating in a report on Wednesday, October 29th. JPMorgan Chase & Co. dropped their price target on shares of Check Point Software Technologies from $257.00 to $251.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 24th. Royal Bank Of Canada increased 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 report on Wednesday, October 29th. Finally, Scotiabank lifted their target price on shares of Check Point Software Technologies from $205.00 to $210.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and fifteen have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $230.48.

Check Point Software Technologies Stock Up 3.9%

NASDAQ:CHKP opened at $191.50 on Friday. Check Point Software Technologies Ltd. has a twelve month low of $178.64 and a twelve month high of $234.35. The company has a fifty day moving average of $196.04 and a 200-day moving average of $204.81. The firm has a market capitalization of $21.06 billion, a P/E ratio of 20.97, a P/E/G ratio of 2.97 and a beta of 0.58.

Check Point Software Technologies (NASDAQ:CHKP) last issued its earnings results on Tuesday, October 28th. The technology company reported $3.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.45 by $1.49. Check Point Software Technologies had a net margin of 37.62% and a return on equity of 37.91%. The business had revenue of $677.50 million for the quarter, compared to analyst estimates of $673.60 million. During the same period in the prior year, the firm earned $2.25 earnings per share. Check Point Software Technologies’s revenue was up 6.7% on a year-over-year basis. 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. On average, analysts anticipate that Check Point Software Technologies Ltd. will post 8.61 EPS for the current fiscal year.

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 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.