Check Point Software Technologies Expands Current Share Repurchase Program

Check Point Software Technologies Ltd. (CHKP) announced on July 25 that the company’s Board of Directors authorized a major expansion of the current share repurchase program. The updated repurchase plan is effective immediately and increases the quarterly repurchase 30% to $325 million in outstanding shares. The overall repurchase plan increased 100% to a total of $2 billion.

Sonal alerted subscribers about the event at 5:00 am on July 25. The next trade took place for $113 at 7:43 am. Prior to the market open, the stock priced spiked higher and then quickly faded back to below $112. Regular market trading opened for the day at $113.95. Check Point Software experienced strong event day gains as the stock closed at $116.81. That makes a gain of 3.37% on the day of the news event.

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