CoreCap Advisors LLC Boosts Stock Holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

CoreCap Advisors LLC increased its position in Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 262.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 14,480 shares of the technology company's stock after acquiring an additional 10,490 shares during the quarter. CoreCap Advisors LLC's holdings in Check Point Software Technologies were worth $2,703,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in CHKP. Norges Bank bought a new stake in shares of Check Point Software Technologies during the 4th quarter valued at about $428,820,000. Causeway Capital Management LLC boosted its position in shares of 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 valued at $360,257,000 after acquiring an additional 487,823 shares during the last quarter. First Trust Advisors LP lifted its position 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 worth $340,314,000 after buying an additional 269,925 shares during the last quarter. Ameriprise Financial Inc. lifted its position 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 worth $266,930,000 after buying an additional 136,699 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in Check Point Software Technologies by 3.3% in the fourth 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 last quarter. Hedge funds and other institutional investors own 98.51% of the company's stock.

Check Point Software Technologies Price Performance

Shares of Check Point Software Technologies stock traded up $3.73 during trading on Tuesday, hitting $220.96. 338,871 shares of the company's stock traded hands, compared to its average volume of 780,557. Check Point Software Technologies Ltd. has a 1 year low of $145.75 and a 1 year high of $234.36. The stock has a market capitalization of $24.30 billion, a P/E ratio of 29.58, a PEG ratio of 3.41 and a beta of 0.66. The business has a 50-day simple moving average of $220.09 and a 200-day simple moving average of $202.81.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The technology company reported $2.21 EPS for the quarter, beating the consensus estimate 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 company had revenue of $637.80 million for the quarter, compared to analysts' expectations of $635.80 million. During the same period last year, the firm posted $2.04 earnings per share. Check Point Software Technologies's revenue was up 6.5% compared to the same quarter last year. On average, equities analysts predict that Check Point Software Technologies Ltd. will post 8.61 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have weighed in on CHKP shares. Citigroup boosted their price objective 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. Needham & Company LLC restated a "hold" rating on shares of Check Point Software Technologies in a report on Thursday, February 27th. BMO Capital Markets restated an "outperform" rating and set a $250.00 target price on shares of Check Point Software Technologies in a report on Wednesday, April 23rd. Stephens decreased their target price on Check Point Software Technologies from $255.00 to $229.00 and set an "equal weight" rating for the company in a report on Thursday, April 24th. Finally, Truist Financial reiterated a "buy" rating and set a $250.00 price target (up previously from $220.00) on shares of Check Point Software Technologies in a research report on Friday, January 31st. Eighteen investment 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's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $232.04.

Check Point Software Technologies Company 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.