Bessemer Group Inc. Has $150.08 Million Holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Bessemer Group Inc. raised its holdings in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 5,396.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 658,485 shares of the technology company's stock after purchasing an additional 646,504 shares during the quarter. Bessemer Group Inc. owned approximately 0.60% of Check Point Software Technologies worth $150,081,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Check Point Software Technologies during the fourth quarter worth $428,820,000. Clearbridge Investments LLC acquired a new stake in shares of Check Point Software Technologies during the fourth quarter worth $100,456,000. Causeway Capital Management LLC lifted its holdings in shares of Check Point Software Technologies by 33.8% during the fourth quarter. Causeway Capital Management LLC now owns 1,929,604 shares of the technology company's stock worth $360,257,000 after buying an additional 487,823 shares in the last quarter. Altshuler Shaham Ltd acquired a new position in Check Point Software Technologies in the fourth quarter valued at about $73,186,000. Finally, First Trust Advisors LP raised its stake in 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 valued at $340,314,000 after purchasing an additional 269,925 shares in the last quarter. Institutional investors and hedge funds own 98.51% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on CHKP. Roth Capital began coverage on Check Point Software Technologies in a research note on Wednesday, April 23rd. They issued a "neutral" rating and a $215.00 price target for the company. Wedbush reaffirmed 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. Compass Point set a $260.00 price target on Check Point Software Technologies in a research note on Thursday, March 27th. Piper Sandler upgraded Check Point Software Technologies from a "neutral" rating to an "overweight" rating and lifted their target price for the company from $220.00 to $260.00 in a research report on Monday, March 3rd. Finally, Wells Fargo & Company decreased their target price on Check Point Software Technologies from $280.00 to $265.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. Sixteen investment 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 company. According to MarketBeat, Check Point Software Technologies has a consensus rating of "Hold" and a consensus price target of $232.44.

Check Point Software Technologies Trading Down 1.1%

CHKP stock traded down $2.43 during trading on Friday, hitting $216.45. The company had a trading volume of 622,022 shares, compared to its average volume of 787,341. The business has a 50-day moving average of $220.36 and a 200-day moving average of $212.55. Check Point Software Technologies Ltd. has a one year low of $163.01 and a one year high of $234.36. The stock has a market cap of $23.81 billion, a PE ratio of 28.56, a PEG ratio of 3.13 and a beta of 0.66.

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, beating the consensus estimate of $2.19 by $0.02. Check Point Software Technologies had a return on equity of 32.88% and a net margin of 32.75%. The business had revenue of $637.80 million for the quarter, compared to analysts' expectations of $635.80 million. During the same period in the prior year, the business posted $2.04 earnings per share. The firm's revenue was up 6.5% on a year-over-year basis. Research analysts forecast that Check Point Software Technologies Ltd. will post 8.61 EPS for the current year.

About Check Point Software Technologies

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.