Check Point Software Technologies Ltd. (NASDAQ:CHKP) Shares Purchased by Fayez Sarofim & Co

Key Points

• Fayez Sarofim & Co increased its holdings in Check Point Software Technologies by 6.7%, acquiring an additional 1,534 shares to total 24,329 shares valued at $5,545,000.
• Several institutional investors made significant moves in Check Point Software Technologies, with Mitsubishi UFJ Asset Management increasing its stake by 10.9%, now holding over 74,520 shares worth around $16,985,000.
• Analysts have adjusted their price targets for Check Point Software Technologies, with a consensus target of $228.08, reflecting a mix of ratings including 12 buy and 15 hold ratings.

Fayez Sarofim & Co increased its stake in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 6.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,329 shares of the technology company's stock after acquiring an additional 1,534 shares during the quarter. Fayez Sarofim & Co's holdings in Check Point Software Technologies were worth $5,545,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Assenagon Asset Management S.A. boosted its holdings in shares of 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 valued at $13,149,000 after acquiring an additional 37,407 shares in the last quarter. Sowell Financial Services LLC purchased a new stake in Check Point Software Technologies during the first quarter worth about $301,000. QRG Capital Management Inc. boosted its holdings in Check Point Software Technologies by 19.1% during the first quarter. QRG Capital Management Inc. now owns 2,442 shares of the technology company's stock worth $557,000 after buying an additional 391 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Check Point Software Technologies by 15.9% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,937 shares of the technology company's stock worth $899,000 after buying an additional 541 shares in the last quarter. Finally, Penserra Capital Management LLC boosted its holdings in Check Point Software Technologies by 5.6% during the first quarter. Penserra Capital Management LLC now owns 393,212 shares of the technology company's stock worth $89,620,000 after buying an additional 20,812 shares in the last quarter. 98.51% of the stock is currently owned by institutional investors and hedge funds.

Check Point Software Technologies Stock Up 0.3%

Shares of NASDAQ:CHKP traded up $0.54 during trading on Tuesday, reaching $181.27. The stock had a trading volume of 441,728 shares, compared to its average volume of 933,958. The business has a fifty day moving average price of $215.68 and a 200-day moving average price of $218.12. The stock has a market cap of $19.94 billion, a P/E ratio of 23.60, a PEG ratio of 2.76 and a beta of 0.59. Check Point Software Technologies Ltd. has a fifty-two week low of $169.01 and a fifty-two week high of $234.35.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The technology company reported $2.37 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.01. The business had revenue of $665.20 million for the quarter, compared to analyst estimates of $663.10 million. Check Point Software Technologies had a net margin of 32.48% and a return on equity of 33.21%. The company's revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the firm posted $2.17 EPS. As a group, equities analysts forecast that Check Point Software Technologies Ltd. will post 8.61 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Morgan Stanley decreased their price objective on shares of Check Point Software Technologies from $230.00 to $215.00 and set an "equal weight" rating on the stock in a report on Thursday, July 31st. BMO Capital Markets reissued an "outperform" rating and set a $250.00 price objective on shares of Check Point Software Technologies in a report on Wednesday, April 23rd. Stifel Nicolaus set a $200.00 price objective on shares of Check Point Software Technologies in a report on Wednesday, July 30th. UBS Group decreased their price objective on shares of Check Point Software Technologies from $220.00 to $210.00 and set a "neutral" rating on the stock in a report on Thursday, July 31st. Finally, Mizuho boosted their price objective on shares of Check Point Software Technologies from $230.00 to $240.00 and gave the stock a "neutral" rating in a report on Monday, June 16th. Fifteen 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. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $228.08.

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.