Franklin Parlapiano Turner & Welch LLC Has $7.67 Million Stock Position in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Franklin Parlapiano Turner & Welch LLC grew its position in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 10.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 33,633 shares of the technology company's stock after purchasing an additional 3,153 shares during the quarter. Check Point Software Technologies accounts for 2.1% of Franklin Parlapiano Turner & Welch LLC's portfolio, making the stock its 20th largest position. Franklin Parlapiano Turner & Welch LLC's holdings in Check Point Software Technologies were worth $7,666,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of CHKP. Norges Bank acquired a new stake in Check Point Software Technologies during the fourth quarter valued at approximately $428,820,000. Causeway Capital Management LLC increased its holdings in shares of Check Point Software Technologies by 33.8% in the fourth quarter. Causeway Capital Management LLC now owns 1,929,604 shares of the technology company's stock valued at $360,257,000 after buying an additional 487,823 shares in the last quarter. First Trust Advisors LP lifted its position in shares of Check Point Software Technologies by 17.4% during the 4th quarter. First Trust Advisors LP now owns 1,822,787 shares of the technology company's stock valued at $340,314,000 after acquiring an additional 269,925 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in shares of Check Point Software Technologies by 2.8% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 1,687,393 shares of the technology company's stock worth $384,591,000 after acquiring an additional 46,713 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in shares of Check Point Software Technologies by 10.6% in the 4th quarter. Ameriprise Financial Inc. now owns 1,429,724 shares of the technology company's stock worth $266,930,000 after acquiring an additional 136,699 shares during the last quarter. Institutional investors own 98.51% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on CHKP shares. Roth Capital started coverage on Check Point Software Technologies in a research note on Wednesday, April 23rd. They issued a "neutral" rating and a $215.00 price target on the stock. Bank of America upgraded shares of Check Point Software Technologies from a "neutral" rating to a "buy" rating and upped their price target for the company from $230.00 to $260.00 in a research report on Thursday, March 27th. BMO Capital Markets reiterated an "outperform" rating and set a $250.00 price objective on shares of Check Point Software Technologies in a research report on Wednesday, April 23rd. Compass Point set a $260.00 target price on Check Point Software Technologies in a report on Thursday, March 27th. Finally, Wall Street Zen raised Check Point Software Technologies from a "hold" rating to a "buy" rating in a research report on Tuesday, May 13th. Sixteen research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $232.44.

Check Point Software Technologies Trading Up 1.9%

Check Point Software Technologies stock traded up $4.19 during trading hours on Thursday, reaching $223.58. 304,434 shares of the company were exchanged, compared to its average volume of 785,658. Check Point Software Technologies Ltd. has a 12 month low of $166.56 and a 12 month high of $234.36. The stock has a 50-day moving average of $221.12 and a 200 day moving average of $213.21. The firm has a market cap of $24.59 billion, a price-to-earnings ratio of 29.50, a PEG ratio of 3.16 and a beta of 0.64.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The technology company reported $2.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.19 by $0.02. The business had revenue of $637.80 million during the quarter, compared to the consensus estimate of $635.80 million. Check Point Software Technologies had a net margin of 32.75% and a return on equity of 32.88%. Check Point Software Technologies's quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.04 EPS. As a group, research analysts forecast that Check Point Software Technologies Ltd. will post 8.61 EPS for the current year.

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.