Tandem Investment Advisors Inc. Boosts Stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Tandem Investment Advisors Inc. lifted its holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 10.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,181 shares of the technology company’s stock after purchasing an additional 2,532 shares during the quarter. Tandem Investment Advisors Inc.’s holdings in Check Point Software Technologies were worth $2,920,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sunbelt Securities Inc. bought a new stake in shares of Check Point Software Technologies in the fourth quarter worth $6,380,000. Golden State Wealth Management LLC bought a new stake in Check Point Software Technologies during the first quarter valued at about $25,000. First Quadrant L P CA bought a new stake in Check Point Software Technologies during the second quarter valued at about $27,000. Eudaimonia Partners LLC bought a new stake in Check Point Software Technologies during the first quarter valued at about $29,000. Finally, Ballast Advisors LLC bought a new stake in Check Point Software Technologies during the first quarter valued at about $36,000. 68.38% of the stock is owned by institutional investors.

Shares of NASDAQ:CHKP traded up $1.81 during mid-day trading on Friday, reaching $125.35. The stock had a trading volume of 1,189,859 shares, compared to its average volume of 1,226,689. The company has a market cap of $18.23 billion, a P/E ratio of 21.54, a price-to-earnings-growth ratio of 2.89 and a beta of 0.62. Check Point Software Technologies Ltd. has a 1 year low of $80.06 and a 1 year high of $130.65. The business’s 50 day moving average price is $113.85 and its 200 day moving average price is $108.33.

Check Point Software Technologies (NASDAQ:CHKP) last posted its earnings results on Wednesday, July 22nd. The technology company reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.44 by $0.14. Check Point Software Technologies had a return on equity of 24.29% and a net margin of 41.21%. The company had revenue of $505.60 million for the quarter, compared to the consensus estimate of $486.35 million. During the same period in the previous year, the business earned $1.38 earnings per share. As a group, equities research analysts anticipate that Check Point Software Technologies Ltd. will post 5.91 EPS for the current year.

Several analysts have issued reports on CHKP shares. Robert W. Baird reissued a “hold” rating and set a $117.00 price target on shares of Check Point Software Technologies in a report on Monday, July 27th. Wells Fargo & Co boosted their price target on Check Point Software Technologies from $105.00 to $110.00 and gave the company an “equal weight” rating in a report on Tuesday, April 28th. Credit Suisse Group upped their price objective on Check Point Software Technologies from $110.00 to $125.00 and gave the stock a “neutral” rating in a research note on Thursday, July 23rd. Citigroup upped their price objective on Check Point Software Technologies from $105.00 to $108.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 28th. Finally, Royal Bank of Canada upped their price objective on Check Point Software Technologies from $108.00 to $123.00 and gave the stock a “sector perform” rating in a research note on Monday, July 20th. Four research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $118.35.

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 portfolio of network and gateway solutions, management solutions, and data and endpoint security solutions. It provides Check Point Infinity Architecture, a cyber security architecture that protects against 5th generation mega cyber-attacks across various networks, endpoint, cloud, and mobile; security gateways from platforms for small business and small office locations, high end and high demanding data centers, and perimeter environments; and Check Point SandBlast family for threat prevention and zero-day protections.

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Institutional Ownership by Quarter for Check Point Software Technologies (NASDAQ:CHKP)

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