Swiss National Bank Purchases 3,000 Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Key Points

• The Swiss National Bank increased its stake in Check Point Software Technologies by 1.2%, owning 245,900 shares worth approximately $56 million after purchasing an additional 3,000 shares.
• Multiple institutional investors significantly raised their holdings in Check Point during the first quarter, including Victory Capital Management, which increased its stake by over 2,700%.
• Check Point's latest earnings report surpassed analysts' expectations, with a reported $2.37 EPS, while quarterly revenue grew 6.0% year-over-year to $665.2 million.

Swiss National Bank grew its position in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 1.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 245,900 shares of the technology company's stock after buying an additional 3,000 shares during the quarter. Swiss National Bank owned 0.22% of Check Point Software Technologies worth $56,046,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of CHKP. Victory Capital Management Inc. lifted its holdings in shares of Check Point Software Technologies by 2,704.5% during the 1st quarter. Victory Capital Management Inc. now owns 1,304,551 shares of the technology company's stock valued at $297,333,000 after buying an additional 1,258,034 shares during the period. Bessemer Group Inc. raised its holdings in Check Point Software Technologies by 5,396.1% in the 1st quarter. Bessemer Group Inc. now owns 658,485 shares of the technology company's stock worth $150,081,000 after purchasing an additional 646,504 shares during the period. Westfield Capital Management Co. LP raised its holdings in Check Point Software Technologies by 214.6% in the 1st quarter. Westfield Capital Management Co. LP now owns 864,717 shares of the technology company's stock worth $197,086,000 after purchasing an additional 589,816 shares during the period. Causeway Capital Management LLC raised its holdings in Check Point Software Technologies by 33.8% in the 4th quarter. Causeway Capital Management LLC now owns 1,929,604 shares of the technology company's stock worth $360,257,000 after purchasing an additional 487,823 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in Check Point Software Technologies by 182.0% in the 1st quarter. Bank of New York Mellon Corp now owns 627,489 shares of the technology company's stock worth $143,017,000 after purchasing an additional 404,958 shares during the period. 98.51% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CHKP. Barclays set a $215.00 target price on Check Point Software Technologies and gave the stock an "equal weight" rating in a report on Thursday, July 31st. Stephens decreased their target price on Check Point Software Technologies from $229.00 to $210.00 and set an "equal weight" rating on the stock in a report on Thursday, July 31st. Wall Street Zen raised Check Point Software Technologies from a "hold" rating to a "buy" rating in a report on Tuesday, May 13th. Wells Fargo & Company decreased their target price on Check Point Software Technologies from $265.00 to $225.00 and set an "overweight" rating on the stock in a report on Thursday, July 31st. Finally, Mizuho raised their target price 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. Fifteen research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $228.08.

Check Point Software Technologies Stock Down 0.9%

Shares of Check Point Software Technologies stock opened at $183.32 on Monday. The firm has a market cap of $20.16 billion, a price-to-earnings ratio of 23.87, a PEG ratio of 2.76 and a beta of 0.59. The business has a 50-day moving average price of $216.67 and a 200-day moving average price of $218.22. Check Point Software Technologies Ltd. has a twelve month low of $169.01 and a twelve month high of $234.35.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The technology company reported $2.37 earnings per share for the quarter, beating analysts' consensus estimates of $2.36 by $0.01. The firm had revenue of $665.20 million during 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 quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the business posted $2.17 earnings per share. On average, equities analysts expect 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.

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