Rossby Financial LCC Buys Shares of 1,554 Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Rossby Financial LCC acquired a new position in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 1,554 shares of the technology company's stock, valued at approximately $354,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Norges Bank acquired a new stake in Check Point Software Technologies in the 4th quarter valued at about $428,820,000. Causeway Capital Management LLC increased its stake in shares of Check Point Software Technologies by 33.8% during the fourth quarter. Causeway Capital Management LLC now owns 1,929,604 shares of the technology company's stock worth $360,257,000 after buying an additional 487,823 shares during the period. First Trust Advisors LP raised its holdings in Check Point Software Technologies by 17.4% in the fourth quarter. First Trust Advisors LP now owns 1,822,787 shares of the technology company's stock valued at $340,314,000 after acquiring an additional 269,925 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in Check Point Software Technologies by 2.8% in the first quarter. Robeco Institutional Asset Management B.V. now owns 1,687,393 shares of the technology company's stock worth $384,591,000 after acquiring an additional 46,713 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in Check Point Software Technologies by 10.6% in the fourth quarter. Ameriprise Financial Inc. now owns 1,429,724 shares of the technology company's stock worth $266,930,000 after acquiring an additional 136,699 shares during the last quarter. Hedge funds and other institutional investors own 98.51% of the company's stock.

Check Point Software Technologies Stock Performance

CHKP stock traded up $4.19 on Friday, reaching $223.58. The company had a trading volume of 304,434 shares, compared to its average volume of 785,871. Check Point Software Technologies Ltd. has a 1 year low of $167.54 and a 1 year high of $234.36. The company's fifty day moving average is $221.75 and its 200 day moving average is $213.92. The company has a market cap of $24.59 billion, a P/E ratio of 29.50, a PEG ratio of 3.20 and a beta of 0.64.

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

Analyst Upgrades and Downgrades

CHKP has been the topic of a number of analyst reports. Compass Point set a $260.00 price objective on shares of Check Point Software Technologies in a report on Thursday, March 27th. Wells Fargo & Company cut their price target on Check Point Software Technologies from $280.00 to $265.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th. Wedbush reaffirmed an "outperform" rating and set a $240.00 price target on shares of Check Point Software Technologies in a report on Thursday, April 24th. Mizuho lifted their price target on Check Point Software Technologies from $230.00 to $240.00 and gave the stock a "neutral" rating in a report on Monday, June 16th. Finally, Stephens decreased their price target on Check Point Software Technologies from $255.00 to $229.00 and set an "equal weight" rating for the company in a report on Thursday, April 24th. Sixteen analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $232.44.

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.