KBC Group NV Has $31.48 Million Position in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

KBC Group NV boosted its stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 20.7% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 138,131 shares of the technology company's stock after buying an additional 23,667 shares during the period. KBC Group NV owned 0.13% of Check Point Software Technologies worth $31,483,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of CHKP. Sowell Financial Services LLC bought a new position in shares of Check Point Software Technologies in the first quarter valued at approximately $301,000. Assenagon Asset Management S.A. lifted its position in Check Point Software Technologies by 184.4% in the first quarter. Assenagon Asset Management S.A. now owns 57,690 shares of the technology company's stock worth $13,149,000 after purchasing an additional 37,407 shares during the period. QRG Capital Management Inc. boosted its stake in Check Point Software Technologies by 19.1% during the 1st quarter. QRG Capital Management Inc. now owns 2,442 shares of the technology company's stock valued at $557,000 after purchasing an additional 391 shares in the last quarter. World Investment Advisors increased its position in shares of Check Point Software Technologies by 4.4% during the 4th quarter. World Investment Advisors now owns 30,041 shares of the technology company's stock valued at $5,609,000 after purchasing an additional 1,278 shares during the period. Finally, Daymark Wealth Partners LLC bought a new stake in shares of Check Point Software Technologies in the 1st quarter worth $452,000. Institutional investors and hedge funds own 98.51% of the company's stock.

Check Point Software Technologies Stock Performance

Shares of CHKP stock traded up $4.19 during trading on Thursday, hitting $223.58. 304,434 shares of the company were exchanged, compared to its average volume of 785,658. The business's 50-day simple moving average is $221.12 and its 200 day simple moving average is $213.21. Check Point Software Technologies Ltd. has a twelve month low of $166.56 and a twelve month high of $234.36. The firm has a market capitalization of $24.59 billion, a price-to-earnings ratio of 29.50, a P/E/G ratio of 3.16 and a beta of 0.64.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last released its earnings results on Wednesday, April 23rd. The technology company reported $2.21 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.19 by $0.02. Check Point Software Technologies had a net margin of 32.75% and a return on equity of 32.88%. 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 firm earned $2.04 EPS. The company's revenue was up 6.5% compared to the same quarter last year. On average, equities analysts forecast that Check Point Software Technologies Ltd. will post 8.61 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CHKP has been the subject of several research analyst reports. Morgan Stanley cut their price objective on Check Point Software Technologies from $235.00 to $220.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Wall Street Zen raised shares of Check Point Software Technologies from a "hold" rating to a "buy" rating in a report on Tuesday, May 13th. Roth Capital started coverage on shares of Check Point Software Technologies in a research note on Wednesday, April 23rd. They issued a "neutral" rating and a $215.00 price objective on the stock. Wells Fargo & Company dropped their target price on shares of Check Point Software Technologies from $280.00 to $265.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. Finally, Scotiabank reduced their target price on shares of Check Point Software Technologies from $250.00 to $240.00 and set a "sector outperform" rating for the company in a 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 presently has a consensus rating of "Hold" and a consensus target price of $232.44.

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.