Lansforsakringar Fondforvaltning AB publ Takes $3.76 Million Position in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Lansforsakringar Fondforvaltning AB publ purchased a new stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 20,118 shares of the technology company's stock, valued at approximately $3,756,000.

A number of other large investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Check Point Software Technologies in the fourth quarter valued at $428,820,000. Causeway Capital Management LLC lifted its stake 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 valued at $360,257,000 after acquiring an additional 487,823 shares during the last quarter. First Trust Advisors LP lifted its stake 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 worth $340,314,000 after buying an additional 269,925 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in shares of Check Point Software Technologies by 10.6% during the 4th quarter. Ameriprise Financial Inc. now owns 1,429,724 shares of the technology company's stock worth $266,930,000 after buying an additional 136,699 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Check Point Software Technologies by 3.3% during the 4th quarter. Geode Capital Management LLC now owns 849,546 shares of the technology company's stock worth $158,035,000 after buying an additional 27,267 shares during the last quarter. Institutional investors and hedge funds own 98.51% of the company's stock.

Check Point Software Technologies Trading Up 1.2%

CHKP traded up $2.60 during trading on Friday, reaching $226.99. 1,131,162 shares of the company's stock were exchanged, compared to its average volume of 785,687. Check Point Software Technologies Ltd. has a one year low of $145.75 and a one year high of $234.36. The stock has a market capitalization of $24.97 billion, a PE ratio of 30.39, a price-to-earnings-growth ratio of 3.41 and a beta of 0.66. The firm has a fifty day moving average price of $219.04 and a two-hundred day moving average price of $206.80.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The technology company reported $2.21 earnings per share for the quarter, topping analysts' consensus estimates of $2.19 by $0.02. Check Point Software Technologies had a net margin of 32.97% and a return on equity of 32.40%. The firm had revenue of $637.80 million for the quarter, compared to analyst estimates of $635.80 million. During the same period in the previous year, the firm posted $2.04 EPS. The company's revenue for the quarter was up 6.5% compared to the same quarter last year. Sell-side analysts expect that Check Point Software Technologies Ltd. will post 8.61 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on CHKP shares. Roth Capital started coverage on shares of Check Point Software Technologies in a research note on Wednesday, April 23rd. They set a "neutral" rating and a $215.00 target price for the company. Scotiabank cut their target price on shares of Check Point Software Technologies from $250.00 to $240.00 and set a "sector outperform" rating for the company in a research note on Thursday, April 24th. Robert W. Baird upgraded shares of Check Point Software Technologies from a "neutral" rating to an "outperform" rating and raised their target price for the stock from $235.00 to $255.00 in a research note on Thursday, February 27th. Mizuho raised their target price on shares of Check Point Software Technologies from $220.00 to $230.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 26th. Finally, Stephens cut their target price on shares of Check Point Software Technologies from $255.00 to $229.00 and set an "equal weight" rating for the company in a research note on Thursday, April 24th. Sixteen research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $232.04.

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.