Alyeska Investment Group L.P. raised its stake in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 56.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 345,887 shares of the technology company's stock after purchasing an additional 124,583 shares during the period. Alyeska Investment Group L.P. owned approximately 0.31% of Check Point Software Technologies worth $64,577,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in Check Point Software Technologies in the fourth quarter worth about $428,820,000. Clearbridge Investments LLC bought a new stake in shares of Check Point Software Technologies in the 4th quarter worth approximately $100,456,000. Causeway Capital Management LLC grew its position in Check Point Software Technologies by 33.8% during the 4th quarter. Causeway Capital Management LLC now owns 1,929,604 shares of the technology company's stock worth $360,257,000 after acquiring an additional 487,823 shares during the last quarter. Altshuler Shaham Ltd bought a new position in shares of Check Point Software Technologies in the fourth quarter worth approximately $73,186,000. Finally, First Trust Advisors LP grew its stake in shares of Check Point Software Technologies by 17.4% in the fourth quarter. First Trust Advisors LP now owns 1,822,787 shares of the technology company's stock worth $340,314,000 after purchasing an additional 269,925 shares during the last quarter. 98.51% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
Several equities research analysts have recently commented on CHKP shares. StockNews.com cut shares of Check Point Software Technologies from a "buy" rating to a "hold" rating in a research report on Wednesday, April 23rd. Wedbush reiterated an "outperform" rating and set a $240.00 target price on shares of Check Point Software Technologies in a report on Thursday, April 24th. UBS Group increased their target price on Check Point Software Technologies from $200.00 to $230.00 and gave the stock a "neutral" rating in a research report on Friday, January 31st. Citigroup lifted their price target on Check Point Software Technologies from $185.00 to $190.00 and gave the company a "neutral" rating in a research report on Friday, January 17th. Finally, BMO Capital Markets reiterated an "outperform" rating and issued a $250.00 price objective on shares of Check Point Software Technologies in a report on Wednesday, April 23rd. Eighteen research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Check Point Software Technologies currently has a consensus rating of "Hold" and an average target price of $232.04.
View Our Latest Stock Report on CHKP
Check Point Software Technologies Price Performance
Shares of Check Point Software Technologies stock traded up $0.68 during trading on Tuesday, hitting $220.84. The stock had a trading volume of 734,934 shares, compared to its average volume of 777,038. The stock has a market cap of $24.29 billion, a PE ratio of 29.56, a PEG ratio of 3.41 and a beta of 0.66. Check Point Software Technologies Ltd. has a 12 month low of $145.75 and a 12 month high of $234.36. The firm's fifty day simple moving average is $220.25 and its 200-day simple moving average is $202.47.
Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The technology company reported $2.21 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $635.80 million. During the same period last year, the company earned $2.04 EPS. Check Point Software Technologies's quarterly revenue was up 6.5% compared to the same quarter last year. 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
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Free Report)
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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