Mitsubishi UFJ Asset Management Co. Ltd. Purchases 7,324 Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its investment in Check Point Software Technologies by 10.9%, owning approximately 0.07% of the company, valued at around $16.98 million.
• Check Point Software Technologies reported a quarterly net income of $665.20 million and an earnings per share (EPS) of $2.37, exceeding analysts' expectations.
• Recent analyst ratings show a consensus of "Moderate Buy" for Check Point shares, with target prices ranging from $200.00 to $240.00.

Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 10.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 74,520 shares of the technology company's stock after buying an additional 7,324 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.07% of Check Point Software Technologies worth $16,985,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Assenagon Asset Management S.A. raised its position in shares of Check Point Software Technologies by 184.4% during the 1st 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 during the last quarter. Sowell Financial Services LLC acquired a new stake in shares of Check Point Software Technologies during the first quarter worth $301,000. QRG Capital Management Inc. increased its holdings in Check Point Software Technologies by 19.1% in the first quarter. QRG Capital Management Inc. now owns 2,442 shares of the technology company's stock valued at $557,000 after purchasing an additional 391 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in Check Point Software Technologies by 15.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,937 shares of the technology company's stock valued at $899,000 after purchasing an additional 541 shares during the last quarter. Finally, Penserra Capital Management LLC lifted its stake in Check Point Software Technologies by 5.6% in the first quarter. Penserra Capital Management LLC now owns 393,212 shares of the technology company's stock valued at $89,620,000 after buying an additional 20,812 shares during the period. 98.51% of the stock is currently owned by institutional investors and hedge funds.

Check Point Software Technologies Stock Down 1.5%

Shares of CHKP stock traded down $2.80 during trading hours on Thursday, hitting $185.32. 1,156,887 shares of the company's stock traded hands, compared to its average volume of 940,598. Check Point Software Technologies Ltd. has a 12 month low of $169.01 and a 12 month high of $234.35. The stock has a market cap of $20.38 billion, a PE ratio of 24.13, a price-to-earnings-growth ratio of 2.72 and a beta of 0.59. The stock's 50 day simple moving average is $213.86 and its 200 day simple moving average is $217.66.

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

Wall Street Analyst Weigh In

CHKP has been the subject of a number of recent analyst reports. Wall Street Zen raised Check Point Software Technologies from a "hold" rating to a "buy" rating in a research note on Tuesday, May 13th. Scotiabank reduced their price target on shares of Check Point Software Technologies from $240.00 to $220.00 and set a "sector outperform" rating on the stock in a research report on Thursday, July 31st. Mizuho upped their price objective on shares of Check Point Software Technologies from $230.00 to $240.00 and gave the company a "neutral" rating in a research report on Monday, June 16th. BMO Capital Markets reiterated an "outperform" rating and set a $250.00 target price on shares of Check Point Software Technologies in a report on Wednesday, April 23rd. Finally, Royal Bank Of Canada lowered their price target on Check Point Software Technologies from $224.00 to $207.00 and set a "sector perform" rating for the company in a report on Thursday, July 31st. Fifteen investment 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 stock. Based on data from MarketBeat, Check Point Software Technologies presently has a consensus rating of "Moderate Buy" and an average target price of $228.08.

About Check Point Software Technologies

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.