Parsons Capital Management Inc. RI Takes Position in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Parsons Capital Management Inc. RI bought a new stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,533 shares of the technology company’s stock, valued at approximately $251,000.

A number of other institutional investors also recently modified their holdings of the company. BSW Wealth Partners raised its stake in shares of Check Point Software Technologies by 3.7% in the fourth quarter. BSW Wealth Partners now owns 2,162 shares of the technology company’s stock valued at $330,000 after acquiring an additional 78 shares during the last quarter. Guardian Wealth Management Inc. increased its holdings in shares of Check Point Software Technologies by 0.5% in the fourth quarter. Guardian Wealth Management Inc. now owns 18,633 shares of the technology company’s stock valued at $2,847,000 after purchasing an additional 85 shares in the last quarter. Koshinski Asset Management Inc. increased its holdings in shares of Check Point Software Technologies by 3.6% in the third quarter. Koshinski Asset Management Inc. now owns 2,559 shares of the technology company’s stock valued at $341,000 after purchasing an additional 89 shares in the last quarter. Pacer Advisors Inc. increased its holdings in shares of Check Point Software Technologies by 6.9% in the fourth quarter. Pacer Advisors Inc. now owns 1,383 shares of the technology company’s stock valued at $211,000 after purchasing an additional 89 shares in the last quarter. Finally, Butensky & Cohen Financial Security Inc. increased its holdings in shares of Check Point Software Technologies by 0.4% in the first quarter. Butensky & Cohen Financial Security Inc. now owns 26,472 shares of the technology company’s stock valued at $4,342,000 after purchasing an additional 102 shares in the last quarter. Institutional investors own 87.62% of the company’s stock.

Analysts Set New Price Targets

CHKP has been the subject of a number of research reports. Needham & Company LLC reissued a “hold” rating on shares of Check Point Software Technologies in a report on Friday. Scotiabank raised their price target on shares of Check Point Software Technologies from $170.00 to $180.00 and gave the company a “sector outperform” rating in a report on Wednesday, February 7th. William Blair raised shares of Check Point Software Technologies from a “market perform” rating to an “outperform” rating in a report on Wednesday, January 31st. BMO Capital Markets lifted their target price on shares of Check Point Software Technologies from $175.00 to $185.00 and gave the stock a “market perform” rating in a report on Wednesday, February 7th. Finally, Wedbush reaffirmed an “outperform” rating and set a $185.00 target price on shares of Check Point Software Technologies in a report on Friday. Thirteen analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $164.00.

Check Point Software Technologies Stock Down 1.1 %

CHKP traded down $1.75 during trading on Friday, hitting $151.20. The company had a trading volume of 1,275,556 shares, compared to its average volume of 616,404. The company has a market capitalization of $18.26 billion, a PE ratio of 21.00, a PEG ratio of 2.45 and a beta of 0.61. Check Point Software Technologies Ltd. has a one year low of $117.18 and a one year high of $168.82. The firm’s 50-day moving average price is $161.41 and its 200 day moving average price is $153.14.

Check Point Software Technologies (NASDAQ:CHKP) last posted its quarterly earnings data on Thursday, April 25th. The technology company reported $1.72 EPS for the quarter, meeting the consensus estimate of $1.72. The business had revenue of $598.80 million for the quarter, compared to analysts’ expectations of $595.28 million. Check Point Software Technologies had a net margin of 34.33% and a return on equity of 31.30%. Sell-side analysts forecast that Check Point Software Technologies Ltd. will post 7.85 earnings per share for the current year.

Check Point Software Technologies 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.