Assenagon Asset Management S.A. Raises Stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Assenagon Asset Management S.A. lifted its position in Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 184.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 57,690 shares of the technology company's stock after purchasing an additional 37,407 shares during the quarter. Assenagon Asset Management S.A. owned about 0.05% of Check Point Software Technologies worth $13,149,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Integrated Advisors Network LLC lifted its holdings in shares of Check Point Software Technologies by 15.2% in the 1st quarter. Integrated Advisors Network LLC now owns 1,248 shares of the technology company's stock valued at $284,000 after acquiring an additional 165 shares during the last quarter. Moseley Investment Management Inc. purchased a new position in shares of Check Point Software Technologies during the first quarter valued at $226,000. City Holding Co. raised its holdings in shares of Check Point Software Technologies by 15.6% in the 1st quarter. City Holding Co. now owns 7,008 shares of the technology company's stock valued at $1,597,000 after purchasing an additional 948 shares in the last quarter. Daymark Wealth Partners LLC bought a new position in Check Point Software Technologies in the first quarter worth approximately $452,000. Finally, Portside Wealth Group LLC lifted its stake in shares of Check Point Software Technologies by 53.1% during the 1st quarter. Portside Wealth Group LLC now owns 1,794 shares of the technology company's stock worth $409,000 after purchasing an additional 622 shares during the last quarter. 98.51% of the stock is owned by institutional investors.

Analyst Ratings Changes

CHKP has been the subject of several recent analyst reports. Arete Research upgraded shares of Check Point Software Technologies to a "hold" rating in a research note on Monday, February 24th. Jefferies Financial Group increased their price objective on Check Point Software Technologies from $250.00 to $255.00 and gave the company a "buy" rating in a report on Thursday, February 27th. Compass Point set a $260.00 price objective on Check Point Software Technologies in a research report on Thursday, March 27th. Bank of America upgraded Check Point Software Technologies from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $230.00 to $260.00 in a research note on Thursday, March 27th. Finally, Robert W. Baird upgraded shares of Check Point Software Technologies from a "neutral" rating to an "outperform" rating and upped their price objective for the company from $235.00 to $255.00 in a report on Thursday, February 27th. Sixteen equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $232.44.

Check Point Software Technologies Stock Down 0.9%

Shares of Check Point Software Technologies stock traded down $1.99 during trading hours on Tuesday, reaching $219.23. 727,983 shares of the company's stock were exchanged, compared to its average volume of 788,309. The business has a fifty day moving average of $220.12 and a two-hundred day moving average of $210.95. The company has a market capitalization of $24.11 billion, a P/E ratio of 28.92, a price-to-earnings-growth ratio of 3.16 and a beta of 0.66. Check Point Software Technologies Ltd. has a 1 year low of $153.88 and a 1 year high of $234.36.

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 for the quarter, topping the consensus estimate 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 firm had revenue of $637.80 million for the quarter, compared to the consensus estimate of $635.80 million. During the same period in the prior year, the firm earned $2.04 EPS. The firm's revenue for the quarter was up 6.5% on a year-over-year basis. As a group, research analysts predict 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.