Nuveen LLC Purchases New Position in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Key Points

• Nuveen LLC has acquired 387,355 shares of Check Point Software Technologies, valued at approximately $88.3 million, representing a 0.35% ownership in the company.
• Analysts have recently adjusted their price targets for Check Point Software Technologies, with Jefferies cutting it from $260 to $230 and Scotiabank lowering it from $240 to $220, while Mizuho raised theirs from $230 to $240.
• Check Point Software Technologies reported earnings of $2.37 per share for the last quarter, exceeding estimates, with revenue reaching $665.2 million, a 6.0% year-over-year increase.

Nuveen LLC acquired a new position in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 387,355 shares of the technology company's stock, valued at approximately $88,286,000. Nuveen LLC owned 0.35% of Check Point Software Technologies at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Assenagon Asset Management S.A. raised its stake in shares of Check Point Software Technologies by 184.4% during the first quarter. Assenagon Asset Management S.A. now owns 57,690 shares of the technology company's stock valued at $13,149,000 after purchasing an additional 37,407 shares in the last quarter. Sowell Financial Services LLC bought a new stake in shares of Check Point Software Technologies during the 1st quarter worth about $301,000. QRG Capital Management Inc. lifted its stake in shares of Check Point Software Technologies by 19.1% in the 1st quarter. QRG Capital Management Inc. now owns 2,442 shares of the technology company's stock worth $557,000 after acquiring an additional 391 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of 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 acquiring an additional 541 shares in the last quarter. Finally, Penserra Capital Management LLC increased its stake in shares of Check Point Software Technologies by 5.6% during the first quarter. Penserra Capital Management LLC now owns 393,212 shares of the technology company's stock valued at $89,620,000 after acquiring an additional 20,812 shares during the period. 98.51% of the stock is owned by institutional investors.

Check Point Software Technologies Stock Performance

Shares of CHKP stock traded down $2.80 during trading on Thursday, hitting $185.32. 1,156,887 shares of the company were exchanged, compared to its average volume of 1,222,634. The business's 50-day simple moving average is $212.94 and its 200 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 firm has a market capitalization of $20.38 billion, a price-to-earnings ratio of 24.13, a P/E/G ratio of 2.83 and a beta of 0.59.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on CHKP shares. BMO Capital Markets reaffirmed an "outperform" rating and set a $250.00 price target on shares of Check Point Software Technologies in a research note on Wednesday, April 23rd. Mizuho raised their target price on Check Point Software Technologies from $230.00 to $240.00 and gave the company a "neutral" rating in a research note on Monday, June 16th. Wells Fargo & Company dropped their price target on shares of Check Point Software Technologies from $265.00 to $225.00 and set an "overweight" rating on the stock in a research report on Thursday, July 31st. Wall Street Zen upgraded shares of Check Point Software Technologies from a "hold" rating to a "buy" rating in a research report on Tuesday, May 13th. Finally, Royal Bank Of Canada dropped their target price on shares of Check Point Software Technologies from $224.00 to $207.00 and set a "sector perform" rating on the stock in a report on Thursday, July 31st. Fifteen 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's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $228.08.

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.