Invesco Ltd. Buys 865,608 Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Invesco Ltd. lifted its position in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 737.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 982,986 shares of the technology company's stock after acquiring an additional 865,608 shares during the quarter. Invesco Ltd. owned approximately 0.89% of Check Point Software Technologies worth $224,042,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Victory Capital Management Inc. boosted its position in shares of Check Point Software Technologies by 2,704.5% during the first quarter. Victory Capital Management Inc. now owns 1,304,551 shares of the technology company's stock worth $297,333,000 after buying an additional 1,258,034 shares during the period. Bessemer Group Inc. boosted its position in Check Point Software Technologies by 5,396.1% during the first quarter. Bessemer Group Inc. now owns 658,485 shares of the technology company's stock valued at $150,081,000 after purchasing an additional 646,504 shares during the last quarter. Westfield Capital Management Co. LP boosted its position in Check Point Software Technologies by 214.6% during the first quarter. Westfield Capital Management Co. LP now owns 864,717 shares of the technology company's stock valued at $197,086,000 after purchasing an additional 589,816 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Check Point Software Technologies by 182.0% during the first quarter. Bank of New York Mellon Corp now owns 627,489 shares of the technology company's stock valued at $143,017,000 after purchasing an additional 404,958 shares during the last quarter. Finally, Altshuler Shaham Ltd acquired a new position in Check Point Software Technologies during the fourth quarter valued at approximately $73,186,000. Institutional investors own 98.51% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. UBS Group reduced their price target on Check Point Software Technologies from $220.00 to $210.00 and set a "neutral" rating for the company in a research report on Thursday, July 31st. BMO Capital Markets reaffirmed an "outperform" rating and issued a $250.00 price objective on shares of Check Point Software Technologies in a research report on Wednesday, April 23rd. Jefferies Financial Group dropped their price target on Check Point Software Technologies from $260.00 to $230.00 and set a "buy" rating for the company in a report on Thursday, July 31st. Stephens lowered their price objective on Check Point Software Technologies from $229.00 to $210.00 and set an "equal weight" rating on the stock in a research note on Thursday, July 31st. Finally, Roth Capital began 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. Fifteen equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $228.08.

Check Point Software Technologies Trading Up 1.9%

Shares of CHKP stock traded up $3.60 during trading on Friday, hitting $188.92. The company's stock had a trading volume of 801,032 shares, compared to its average volume of 1,257,896. The business has a fifty day moving average of $212.05 and a 200-day moving average of $217.47. Check Point Software Technologies Ltd. has a 52 week low of $169.01 and a 52 week high of $234.35. The company has a market cap of $20.78 billion, a PE ratio of 24.60, a P/E/G ratio of 2.79 and a beta of 0.59.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last posted its earnings results on Wednesday, July 30th. The technology company reported $2.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.01. Check Point Software Technologies had a return on equity of 33.21% and a net margin of 32.48%. The firm had revenue of $665.20 million for the quarter, compared to the consensus estimate of $663.10 million. During the same quarter in the prior year, the business posted $2.17 earnings per share. The business's quarterly revenue was up 6.0% 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.

Check Point Software Technologies Company 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.