Bank of America Corp DE Has $86.01 Million Stock Position in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Bank of America Corp DE cut its position in Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 26.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 460,684 shares of the technology company's stock after selling 162,077 shares during the quarter. Bank of America Corp DE owned about 0.42% of Check Point Software Technologies worth $86,010,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in Check Point Software Technologies in the 4th quarter valued at $428,820,000. Causeway Capital Management LLC boosted its stake in Check Point Software Technologies by 33.8% in the 4th quarter. Causeway Capital Management LLC now owns 1,929,604 shares of the technology company's stock valued at $360,257,000 after purchasing an additional 487,823 shares during the period. First Trust Advisors LP boosted its stake in Check Point Software Technologies by 17.4% in the 4th quarter. First Trust Advisors LP now owns 1,822,787 shares of the technology company's stock valued at $340,314,000 after purchasing an additional 269,925 shares during the period. Ameriprise Financial Inc. boosted its stake in Check Point Software Technologies by 10.6% in the 4th quarter. Ameriprise Financial Inc. now owns 1,429,724 shares of the technology company's stock valued at $266,930,000 after purchasing an additional 136,699 shares during the period. Finally, Geode Capital Management LLC boosted its stake in Check Point Software Technologies by 3.3% in the 4th quarter. Geode Capital Management LLC now owns 849,546 shares of the technology company's stock valued at $158,035,000 after purchasing an additional 27,267 shares during the period. 98.51% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on CHKP. Wedbush restated an "outperform" rating and issued a $240.00 price target on shares of Check Point Software Technologies in a research note on Thursday, April 24th. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $215.00 price objective on shares of Check Point Software Technologies in a report on Thursday, February 27th. Bank of America raised Check Point Software Technologies from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $230.00 to $260.00 in a report on Thursday, March 27th. Barclays lifted their price objective on Check Point Software Technologies from $200.00 to $230.00 and gave the company an "equal weight" rating in a report on Thursday, January 30th. Finally, Wells Fargo & Company dropped their price objective on Check Point Software Technologies from $280.00 to $265.00 and set an "overweight" rating for the company in a report on Thursday, April 24th. Sixteen research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $232.04.

Check Point Software Technologies Trading Up 1.2%

CHKP traded up $2.58 on Friday, reaching $218.68. The stock had a trading volume of 519,217 shares, compared to its average volume of 779,744. Check Point Software Technologies Ltd. has a fifty-two week low of $145.75 and a fifty-two week high of $234.36. The firm has a 50-day moving average of $219.41 and a 200-day moving average of $203.53. The company has a market capitalization of $24.05 billion, a price-to-earnings ratio of 29.27, a price-to-earnings-growth ratio of 3.41 and a beta of 0.66.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The technology company reported $2.21 EPS for the quarter, beating analysts' consensus estimates of $2.19 by $0.02. Check Point Software Technologies had a return on equity of 32.40% and a net margin of 32.97%. The firm had revenue of $637.80 million for the quarter, compared to analyst estimates of $635.80 million. During the same quarter in the previous year, the company posted $2.04 EPS. The business's revenue was up 6.5% on a year-over-year basis. Sell-side analysts anticipate that Check Point Software Technologies Ltd. will post 8.61 EPS 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.