Banque Cantonale Vaudoise Buys New Stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Banque Cantonale Vaudoise purchased a new position in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 13,344 shares of the technology company's stock, valued at approximately $3,041,000.

Several other hedge funds and other institutional investors have also modified their holdings of CHKP. Victory Capital Management Inc. boosted its holdings in Check Point Software Technologies by 2,704.5% in the first quarter. Victory Capital Management Inc. now owns 1,304,551 shares of the technology company's stock valued at $297,333,000 after purchasing an additional 1,258,034 shares during the period. Bessemer Group Inc. boosted its holdings in Check Point Software Technologies by 5,396.1% in the first quarter. Bessemer Group Inc. now owns 658,485 shares of the technology company's stock valued at $150,081,000 after purchasing an additional 646,504 shares during the period. Clearbridge Investments LLC purchased a new position in Check Point Software Technologies in the fourth quarter valued at $100,456,000. Causeway Capital Management LLC boosted its holdings in Check Point Software Technologies by 33.8% in the fourth 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. Finally, Bank of New York Mellon Corp boosted its holdings in Check Point Software Technologies by 182.0% in the first quarter. Bank of New York Mellon Corp now owns 627,489 shares of the technology company's stock valued at $143,017,000 after purchasing an additional 404,958 shares during the period. 98.51% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on CHKP. Mizuho lifted their price target on Check Point Software Technologies from $230.00 to $240.00 and gave the stock a "neutral" rating in a report on Monday, June 16th. Wells Fargo & Company decreased their price target on Check Point Software Technologies from $265.00 to $225.00 and set an "overweight" rating for the company in a report on Thursday. Stifel Nicolaus set a $200.00 price target on Check Point Software Technologies in a report on Wednesday. Barclays set a $215.00 price target on Check Point Software Technologies and gave the stock an "equal weight" rating in a report on Thursday. Finally, Wedbush reaffirmed an "outperform" rating and set a $240.00 price target on shares of Check Point Software Technologies in a report on Thursday, April 24th. Fifteen equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Check Point Software Technologies currently has a consensus rating of "Moderate Buy" and an average target price of $228.08.

Check Point Software Technologies Price Performance

NASDAQ CHKP traded up $2.38 on Friday, hitting $188.58. 1,821,631 shares of the company's stock were exchanged, compared to its average volume of 966,519. The firm's 50-day moving average price is $220.54 and its two-hundred day moving average price is $217.91. Check Point Software Technologies Ltd. has a fifty-two week low of $169.01 and a fifty-two week high of $234.35. The firm has a market cap of $20.74 billion, a price-to-earnings ratio of 24.55, a P/E/G ratio of 2.71 and a beta of 0.59.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last released its earnings results on Wednesday, July 30th. The technology company reported $2.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.01. Check Point Software Technologies had a return on equity of 33.21% and a net margin of 32.48%. The company had revenue of $665.20 million for the quarter, compared to analysts' expectations of $663.10 million. During the same quarter in the previous year, the firm posted $2.17 EPS. The firm's quarterly revenue was up 6.0% on a year-over-year basis. On average, research analysts predict 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.