Check Point Software, a solid name in cybersecurity, has shown slow growth but strong cash flow and share repurchasing power. The company bought back $325 million worth of shares in Q3 and extended its repurchase plan by $2 billion. Check Point's net revenue grew 3.2% compared to last year, with subscription revenue leading the way. The company's margin remained steady, resulting in a 17% increase in adjusted EPS. The outlook is stable, with a 4% increase in deferred revenue suggesting continued low-to-mid-single-digit growth. Analysts have raised the bar for Q4, with revenue expected to rise about 3.7% at the midpoint. Check Point's stock price has shown solid support and may continue to rise. MarketBeat has identified Check Point as a stock to watch.
In the latest news, Hunter Perkins Capital Management LLC has decreased its stake in Check Point Software Technologies Ltd. by 61.7% in the 3rd quarter. The institutional investor sold 73,797 shares, reducing its ownership to 45,723 shares. Check Point Software Technologies now accounts for 1.3% of Hunter Perkins Capital Management LLC's investment portfolio, making it the 26th largest holding. Check Point Software Technologies' stock is currently trading down 0.4% [027160ed].
Philip N. Garfinkle, a board director at WidePoint Corporation, has purchased 2,240 shares of the company's common stock at an average price of $2.44, totaling $5,465. The shares were bought through multiple transactions at prices ranging from $2.40 to $2.47. Garfinkle now owns 121,083 shares in WidePoint Corporation. WidePoint Corporation is a technology company based in Fairfax, Virginia, specializing in computer integrated systems design services. Insider buying is often considered an indicator of a stock's future performance, but investors should consider multiple factors when making investment decisions. [afed65d6]