Should You Consider Buying Check Point (CHKP) Shares?

Diamond Hill Capital, an investment management firm, published its “Diamond Hill International Fund” first-quarter 2022 investor letter – a copy of which can be downloaded here. During a volatile quarter, the portfolio held up better than the Morningstar Global Markets ex-US Index by a decent margin. After a strong rebound in 2021, the fund expects the global GDP growth to moderate in 2022. Try to take some time looking at the fund’s top 5 holdings to be informed about their best picks for 2022.

In its Q1 2022 investor letter, Diamond Hill International Fund mentioned Check Point Software Technologies Ltd. (NASDAQ:CHKP) and explained its insights for the company. Founded in 1993, Check Point Software Technologies Ltd. (NASDAQ:CHKP) is a Tel Aviv-Yafo, Israel-based software company with a $15.5 billion market capitalization. Check Point Software Technologies Ltd. (NASDAQ:CHKP) delivered a 4.29% return since the beginning of the year, while its 12-month returns are down by -0.52%. The stock closed at $121.56 per share on July 14, 2022.

Here is what Diamond Hill International Fund Concentrated Fund has to say about Check Point Software Technologies Ltd. (NASDAQ:CHKP) in its Q1 2022 investor letter:

Check Point reported a solid Q4 as the company continues its lengthy transition towards a subscription-based sales model. We expect the firm to consistently repurchase shares with the substantial free cash flow it generates each year.”

Software

Our calculations show that Check Point Software Technologies Ltd. (NASDAQ:CHKP) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. Check Point Software Technologies Ltd. (NASDAQ:CHKP) was in 34 hedge fund portfolios at the end of the first quarter of 2022, compared to 31 funds in the previous quarter. Check Point Software Technologies Ltd. (NASDAQ:CHKP) delivered a -14.86% return in the past 3 months.

In June 2021, we also shared another hedge fund’s views on Check Point Software Technologies Ltd. (NASDAQ:CHKP) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q1 page.

Disclosure: None. This article is originally published at Insider Monkey.