Public Sector Pension Investment Board Has $10.01 Million Stock Position in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Key Points

• The Public Sector Pension Investment Board increased its stake in Check Point Software Technologies by 8.7%, acquiring an additional 3,500 shares, bringing its total holdings to 43,936 shares valued at approximately $10 million.
• Check Point Software Technologies reported earnings of $2.37 per share, slightly surpassing analysts' expectations, and its revenue for the quarter rose by 6.0% year-over-year to $665.2 million.
• The stock has experienced a 3.8% increase recently, and analysts have mixed ratings on it, with a consensus indicating a "Moderate Buy" and an average price target of about $228.08.

Public Sector Pension Investment Board boosted its holdings in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 8.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,936 shares of the technology company's stock after purchasing an additional 3,500 shares during the period. Public Sector Pension Investment Board's holdings in Check Point Software Technologies were worth $10,014,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Capital A Wealth Management LLC acquired a new stake in shares of Check Point Software Technologies in the 4th quarter valued at $29,000. Cromwell Holdings LLC acquired a new stake in shares of Check Point Software Technologies in the 1st quarter valued at $37,000. Abound Financial LLC acquired a new stake in shares of Check Point Software Technologies in the 1st quarter valued at $40,000. TruNorth Capital Management LLC acquired a new stake in shares of Check Point Software Technologies in the 1st quarter valued at $45,000. Finally, Quarry LP increased its stake in shares of Check Point Software Technologies by 100.0% in the 4th quarter. Quarry LP now owns 206 shares of the technology company's stock valued at $38,000 after buying an additional 103 shares during the period. 98.51% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently commented on CHKP. Morgan Stanley lowered their target price on Check Point Software Technologies from $230.00 to $215.00 and set an "equal weight" rating for the company in a research note on Thursday, July 31st. Wells Fargo & Company decreased their price objective on Check Point Software Technologies from $265.00 to $225.00 and set an "overweight" rating for the company in a research note on Thursday, July 31st. Stifel Nicolaus set a $200.00 price objective on Check Point Software Technologies in a research note on Wednesday, July 30th. Scotiabank decreased their price objective on Check Point Software Technologies from $240.00 to $220.00 and set a "sector outperform" rating for the company in a research note on Thursday, July 31st. Finally, Wall Street Zen raised Check Point Software Technologies from a "hold" rating to a "buy" rating in a research note on Tuesday, May 13th. Fifteen research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently 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 Check Point Software Technologies stock traded up $3.60 during trading on Friday, reaching $188.92. The stock had a trading volume of 801,032 shares, compared to its average volume of 1,257,896. The company has a market capitalization of $20.78 billion, a price-to-earnings ratio of 24.60, a P/E/G ratio of 2.79 and a beta of 0.59. The stock has a fifty day moving average price of $212.05 and a two-hundred day moving average price of $217.47. Check Point Software Technologies Ltd. has a 52 week low of $169.01 and a 52 week high of $234.35.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last issued 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 company 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 company's quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the previous year, the company posted $2.17 earnings per share. On average, equities analysts forecast 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.