Check Point Software Technologies Ltd. (NASDAQ:CHKP) Shares Acquired by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS boosted its holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 2.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 125,300 shares of the technology company's stock after acquiring an additional 2,400 shares during the quarter. KLP Kapitalforvaltning AS owned about 0.11% of Check Point Software Technologies worth $28,558,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of CHKP. Norges Bank purchased a new position in Check Point Software Technologies in the fourth quarter worth $428,820,000. Victory Capital Management Inc. raised its position in Check Point Software Technologies by 2,704.5% in the first quarter. Victory Capital Management Inc. now owns 1,304,551 shares of the technology company's stock worth $297,333,000 after acquiring an additional 1,258,034 shares in the last quarter. Bessemer Group Inc. raised its position in Check Point Software Technologies by 5,396.1% in the first quarter. Bessemer Group Inc. now owns 658,485 shares of the technology company's stock worth $150,081,000 after acquiring an additional 646,504 shares in the last quarter. Clearbridge Investments LLC purchased a new position in Check Point Software Technologies in the fourth quarter worth $100,456,000. Finally, Causeway Capital Management LLC raised its position in 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 worth $360,257,000 after acquiring an additional 487,823 shares in the last quarter. Hedge funds and other institutional investors own 98.51% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Stephens cut their price objective on Check Point Software Technologies from $255.00 to $229.00 and set an "equal weight" rating for the company in a research report on Thursday, April 24th. Scotiabank lowered their target price on Check Point Software Technologies from $250.00 to $240.00 and set a "sector outperform" rating on the stock in a report on Thursday, April 24th. Morgan Stanley lowered their target price on Check Point Software Technologies from $235.00 to $220.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. BMO Capital Markets reissued an "outperform" rating and issued a $250.00 target price on shares of Check Point Software Technologies in a report on Wednesday, April 23rd. Finally, Wedbush reissued an "outperform" rating and issued a $240.00 target price on shares of Check Point Software Technologies in a report on Thursday, April 24th. Fifteen investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $236.50.

Check Point Software Technologies Price Performance

NASDAQ:CHKP traded down $1.90 during mid-day trading on Friday, reaching $220.11. The company's stock had a trading volume of 789,371 shares, compared to its average volume of 629,111. The company's fifty day simple moving average is $222.85 and its two-hundred day simple moving average is $217.57. Check Point Software Technologies Ltd. has a twelve month low of $169.01 and a twelve month high of $234.35. The stock has a market cap of $24.21 billion, a P/E ratio of 29.04, a P/E/G ratio of 3.15 and a beta of 0.64.

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