Fiduciary Trust Co Takes Position in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Fiduciary Trust Co bought a new stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 1,622 shares of the technology company's stock, valued at approximately $303,000.

Other large investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in Check Point Software Technologies during the fourth quarter worth approximately $428,820,000. Clearbridge Investments LLC acquired a new stake in Check Point Software Technologies in the 4th quarter valued at $100,456,000. Causeway Capital Management LLC raised its holdings 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 buying an additional 487,823 shares during the period. Altshuler Shaham Ltd acquired a new position in shares of Check Point Software Technologies during the fourth quarter worth $73,186,000. Finally, First Trust Advisors LP lifted its holdings 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 in the last quarter. Institutional investors and hedge funds own 98.51% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Piper Sandler raised Check Point Software Technologies from a "neutral" rating to an "overweight" rating and upped their target price for the company from $220.00 to $260.00 in a research report on Monday, March 3rd. Guggenheim reaffirmed a "neutral" rating on shares of Check Point Software Technologies in a report on Friday, January 31st. Stephens reduced their price objective on shares of Check Point Software Technologies from $255.00 to $229.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 24th. Susquehanna boosted their target price on shares of Check Point Software Technologies from $215.00 to $255.00 and gave the stock a "positive" rating in a research report on Friday, January 31st. Finally, Truist Financial restated a "buy" rating and issued a $250.00 target price (up previously from $220.00) on shares of Check Point Software Technologies in a research note on Friday, January 31st. Sixteen analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $232.04.

Check Point Software Technologies Stock Up 1.2%

CHKP stock traded up $2.58 during trading on Friday, reaching $218.68. 519,217 shares of the company's stock were exchanged, compared to its average volume of 779,230. Check Point Software Technologies Ltd. has a 1-year low of $145.75 and a 1-year high of $234.36. The firm has a market cap of $24.05 billion, a PE ratio of 29.27, a P/E/G ratio of 3.41 and a beta of 0.66. The company's fifty day moving average price is $219.48 and its 200-day moving average price is $203.05.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The technology company reported $2.21 EPS for the quarter, topping 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 firm 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 company earned $2.04 earnings per share. The firm's quarterly revenue was up 6.5% compared to the same quarter last year. As a group, sell-side analysts expect that Check Point Software Technologies Ltd. will post 8.61 earnings per share for the current fiscal year.

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.