Check Point Software Technologies Ltd. (NASDAQ:CHKP) Shares Acquired by KBC Group NV

KBC Group NV increased its position in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 20.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 138,131 shares of the technology company's stock after acquiring an additional 23,667 shares during the period. KBC Group NV owned about 0.13% of Check Point Software Technologies worth $31,483,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. New York Life Investment Management LLC lifted its position in shares of Check Point Software Technologies by 22.3% during the fourth quarter. New York Life Investment Management LLC now owns 2,053 shares of the technology company's stock worth $383,000 after purchasing an additional 375 shares in the last quarter. Oppenheimer Asset Management Inc. increased its stake in Check Point Software Technologies by 96.2% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 7,881 shares of the technology company's stock worth $1,471,000 after buying an additional 3,865 shares during the period. Proficio Capital Partners LLC acquired a new stake in Check Point Software Technologies during the 4th quarter worth approximately $13,838,000. QRG Capital Management Inc. boosted its position in Check Point Software Technologies by 14.8% in the 4th quarter. QRG Capital Management Inc. now owns 2,051 shares of the technology company's stock valued at $383,000 after buying an additional 265 shares during the period. Finally, Metis Global Partners LLC acquired a new position in shares of Check Point Software Technologies in the fourth quarter worth $282,000. Institutional investors and hedge funds own 98.51% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Scotiabank reduced their price objective on Check Point Software Technologies from $250.00 to $240.00 and set a "sector outperform" rating on the stock in a research note on Thursday, April 24th. Wells Fargo & Company cut their price target on 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. Mizuho lifted their price objective on Check Point Software Technologies from $230.00 to $240.00 and gave the company a "neutral" rating in a research note on Monday, June 16th. Stephens lowered their price objective on Check Point Software Technologies from $255.00 to $229.00 and set an "equal weight" rating for the company in a research report on Thursday, April 24th. Finally, BMO Capital Markets restated an "outperform" rating and set a $250.00 target price on shares of Check Point Software Technologies in a research note on Wednesday, April 23rd. Sixteen equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $232.44.

Check Point Software Technologies Stock Down 1.1%

NASDAQ:CHKP opened at $216.45 on Monday. The company has a market capitalization of $23.81 billion, a PE ratio of 28.56, a P/E/G ratio of 3.09 and a beta of 0.66. Check Point Software Technologies Ltd. has a 52-week low of $163.08 and a 52-week high of $234.36. The stock's 50 day moving average price is $220.36 and its 200 day moving average price is $212.88.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last announced 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. The business had revenue of $637.80 million for the quarter, compared to analyst estimates of $635.80 million. Check Point Software Technologies had a net margin of 32.75% and a return on equity of 32.88%. The company's revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period last year, the firm posted $2.04 earnings per share. As a group, sell-side analysts anticipate that Check Point Software Technologies Ltd. will post 8.61 EPS for the current fiscal 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.

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