Bessemer Group Inc. Purchases 646,504 Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP)

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

Other institutional investors and hedge funds also recently bought and sold shares of the company. Daymark Wealth Partners LLC bought a new position in Check Point Software Technologies in the 1st quarter worth about $452,000. Asset Management One Co. Ltd. grew its position in Check Point Software Technologies by 5.8% during the first quarter. Asset Management One Co. Ltd. now owns 84,257 shares of the technology company's stock worth $19,204,000 after buying an additional 4,614 shares in the last quarter. EWA LLC bought a new position in Check Point Software Technologies in the 1st quarter worth about $217,000. Suncoast Equity Management raised its holdings in shares of Check Point Software Technologies by 9.6% in the 1st quarter. Suncoast Equity Management now owns 6,325 shares of the technology company's stock valued at $1,442,000 after acquiring an additional 555 shares in the last quarter. Finally, Stonegate Investment Group LLC bought a new stake in shares of Check Point Software Technologies during the 1st quarter valued at about $274,000. 98.51% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Wall Street Zen raised shares of Check Point Software Technologies from a "hold" rating to a "buy" rating in a research note on Tuesday, May 13th. Compass Point set a $260.00 price objective on shares of Check Point Software Technologies in a research report on Thursday, March 27th. JPMorgan Chase & Co. raised shares of Check Point Software Technologies from a "neutral" rating to an "overweight" rating and lifted their price objective for the stock from $221.00 to $255.00 in a report on Wednesday, February 26th. BMO Capital Markets reiterated an "outperform" rating and issued a $250.00 target price on shares of Check Point Software Technologies in a research report on Wednesday, April 23rd. Finally, Wells Fargo & Company lowered their price target 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 issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $232.44.

Check Point Software Technologies Stock Performance

Shares of NASDAQ CHKP traded down $0.09 during trading hours on Thursday, hitting $218.84. The company's stock had a trading volume of 87,934 shares, compared to its average volume of 784,557. Check Point Software Technologies Ltd. has a 12 month low of $153.88 and a 12 month high of $234.36. The stock has a market cap of $24.07 billion, a price-to-earnings ratio of 28.90, a P/E/G ratio of 3.14 and a beta of 0.66. The business has a 50-day simple moving average of $220.25 and a 200-day simple moving average of $212.13.

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 analysts' consensus estimates 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 company had revenue of $637.80 million during the quarter, compared to the consensus estimate of $635.80 million. During the same quarter in the prior year, the company earned $2.04 earnings per share. The firm's revenue for the quarter was up 6.5% on a year-over-year basis. On average, equities research analysts forecast that Check Point Software Technologies Ltd. will post 8.61 EPS for the current year.

Check Point Software Technologies 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.