Edgestream Partners L.P. purchased a new stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 1,363 shares of the technology company's stock, valued at approximately $311,000.
A number of other institutional investors have also recently modified their holdings of CHKP. Norges Bank acquired a new position in shares of Check Point Software Technologies in the fourth quarter valued at approximately $428,820,000. Bessemer Group Inc. raised its stake in shares of Check Point Software Technologies by 5,396.1% during the 1st quarter. Bessemer Group Inc. now owns 658,485 shares of the technology company's stock worth $150,081,000 after purchasing an additional 646,504 shares during the period. Clearbridge Investments LLC purchased a new stake in Check Point Software Technologies in the 4th quarter worth about $100,456,000. Causeway Capital Management LLC raised its stake in shares of Check Point Software Technologies by 33.8% during the 4th quarter. Causeway Capital Management LLC now owns 1,929,604 shares of the technology company's stock valued at $360,257,000 after purchasing an additional 487,823 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in Check Point Software Technologies by 182.0% during the 1st quarter. Bank of New York Mellon Corp now owns 627,489 shares of the technology company's stock worth $143,017,000 after acquiring an additional 404,958 shares during the period. 98.51% of the stock is currently owned by institutional investors.
Check Point Software Technologies Stock Performance
Shares of CHKP opened at $215.48 on Monday. The firm has a market cap of $23.70 billion, a price-to-earnings ratio of 28.43, a PEG ratio of 3.08 and a beta of 0.64. Check Point Software Technologies Ltd. has a fifty-two week low of $169.02 and a fifty-two week high of $234.36. The firm has a 50 day moving average price of $222.32 and a 200-day moving average price of $216.40.
Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last posted its quarterly 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. The company had revenue of $637.80 million for the quarter, compared to the consensus estimate of $635.80 million. Check Point Software Technologies had a return on equity of 32.88% and a net margin of 32.75%. The firm's quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.04 EPS. As a group, equities research analysts predict that Check Point Software Technologies Ltd. will post 8.61 earnings per share for the current year.
Analysts Set New Price Targets
Several analysts have weighed in on the stock. 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 target for the company. Bank of America upgraded shares of Check Point Software Technologies from a "neutral" rating to a "buy" rating and raised their price objective for the company from $230.00 to $260.00 in a research note on Thursday, March 27th. Cantor Fitzgerald upped their target price on shares of Check Point Software Technologies from $220.00 to $230.00 and gave the company a "neutral" rating in a research note on Wednesday, July 16th. Wells Fargo & Company dropped 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. Finally, Compass Point set a $260.00 target price on shares of Check Point Software Technologies in a report on Thursday, March 27th. 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 company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $234.24.
View Our Latest Stock Analysis on CHKP
About Check Point Software Technologies
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Free Report)
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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