Ameriprise Financial Inc. Grows Position in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Ameriprise Financial Inc. boosted its holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 10.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,429,724 shares of the technology company's stock after buying an additional 136,699 shares during the quarter. Ameriprise Financial Inc. owned 1.30% of Check Point Software Technologies worth $266,930,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. World Investment Advisors increased its position in Check Point Software Technologies by 4.4% during the fourth quarter. World Investment Advisors now owns 30,041 shares of the technology company's stock valued at $5,609,000 after acquiring an additional 1,278 shares during the last quarter. Crux Wealth Advisors purchased a new stake in shares of Check Point Software Technologies during the 4th quarter valued at about $542,000. Truist Financial Corp lifted its stake in shares of Check Point Software Technologies by 2.6% in the 4th quarter. Truist Financial Corp now owns 119,504 shares of the technology company's stock worth $22,311,000 after purchasing an additional 3,080 shares during the period. Vestmark Advisory Solutions Inc. boosted its holdings in shares of Check Point Software Technologies by 99.3% in the fourth quarter. Vestmark Advisory Solutions Inc. now owns 4,973 shares of the technology company's stock worth $928,000 after buying an additional 2,478 shares during the last quarter. Finally, Hickory Asset Management Inc. bought a new stake in Check Point Software Technologies during the fourth quarter valued at approximately $476,000. Institutional investors own 98.51% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Wells Fargo & Company decreased their price target on shares of Check Point Software Technologies from $280.00 to $265.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. Needham & Company LLC reaffirmed a "hold" rating on shares of Check Point Software Technologies in a report on Thursday, February 27th. Piper Sandler raised Check Point Software Technologies from a "neutral" rating to an "overweight" rating and boosted their price target for the company from $220.00 to $260.00 in a report on Monday, March 3rd. Susquehanna raised their price objective on Check Point Software Technologies from $215.00 to $255.00 and gave the stock a "positive" rating in a research note on Friday, January 31st. Finally, Morgan Stanley cut their price objective on Check Point Software Technologies from $235.00 to $220.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. Eighteen research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Check Point Software Technologies presently has an average rating of "Hold" and a consensus target price of $232.04.

Check Point Software Technologies Price Performance

NASDAQ:CHKP opened at $220.16 on Tuesday. The firm has a market capitalization of $24.21 billion, a price-to-earnings ratio of 29.47, a PEG ratio of 3.41 and a beta of 0.66. The business has a 50 day simple moving average of $220.17 and a 200-day simple moving average of $202.34. Check Point Software Technologies Ltd. has a 1 year low of $145.75 and a 1 year high of $234.36.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The technology company reported $2.21 earnings per share for the quarter, beating analysts' consensus estimates of $2.19 by $0.02. Check Point Software Technologies had a net margin of 32.97% and a return on equity of 32.40%. The business had revenue of $637.80 million for the quarter, compared to analysts' expectations of $635.80 million. During the same quarter in the previous year, the business posted $2.04 earnings per share. The business's revenue was up 6.5% compared to the same quarter last year. As a group, analysts expect that Check Point Software Technologies Ltd. will post 8.61 earnings per share for the current fiscal 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.

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