Price T Rowe Associates Inc. MD Acquires 6,620 Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Price T Rowe Associates Inc. MD increased its stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 12.2% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 60,861 shares of the technology company's stock after acquiring an additional 6,620 shares during the period. Price T Rowe Associates Inc. MD owned about 0.06% of Check Point Software Technologies worth $11,364,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Check Point Software Technologies during the 4th quarter valued at about $428,820,000. Causeway Capital Management LLC grew its position in 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 valued at $360,257,000 after acquiring an additional 487,823 shares during the last quarter. First Trust Advisors LP raised its stake in shares of Check Point Software Technologies by 17.4% during the fourth quarter. First Trust Advisors LP now owns 1,822,787 shares of the technology company's stock worth $340,314,000 after acquiring an additional 269,925 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Check Point Software Technologies by 3.3% in the 4th quarter. Geode Capital Management LLC now owns 849,546 shares of the technology company's stock worth $158,035,000 after acquiring an additional 27,267 shares during the last quarter. Finally, Clearbridge Investments LLC purchased a new stake in shares of Check Point Software Technologies in the 4th quarter valued at $100,456,000. Institutional investors own 98.51% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Roth Capital assumed coverage on shares of Check Point Software Technologies in a research note on Wednesday, April 23rd. They issued a "neutral" rating and a $215.00 price target for the company. Guggenheim reaffirmed a "neutral" rating on shares of Check Point Software Technologies in a research note on Friday, January 31st. JPMorgan Chase & Co. raised shares of Check Point Software Technologies from a "neutral" rating to an "overweight" rating and increased their price target for the company from $221.00 to $255.00 in a research report on Wednesday, February 26th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $215.00 price objective on shares of Check Point Software Technologies in a research note on Thursday, February 27th. Finally, Truist Financial restated a "buy" rating and set a $250.00 price target (up previously from $220.00) on shares of Check Point Software Technologies in a report on Friday, January 31st. Eighteen equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $232.04.

Check Point Software Technologies Price Performance

Shares of CHKP traded up $2.61 on Monday, reaching $220.16. The company's stock had a trading volume of 729,212 shares, compared to its average volume of 775,877. Check Point Software Technologies Ltd. has a 12-month low of $145.75 and a 12-month high of $234.36. The stock has a market capitalization of $24.21 billion, a P/E ratio of 29.47, a PEG ratio of 3.41 and a beta of 0.66. The stock's 50 day simple moving average is $220.18 and its two-hundred day simple moving average is $202.24.

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 EPS for the quarter, topping the consensus estimate of $2.19 by $0.02. Check Point Software Technologies had a return on equity of 32.40% and a net margin of 32.97%. The firm had revenue of $637.80 million during the quarter, compared to analyst estimates of $635.80 million. During the same period in the prior year, the business posted $2.04 EPS. Check Point Software Technologies's revenue was up 6.5% on a year-over-year basis. Analysts expect that Check Point Software Technologies Ltd. will post 8.61 earnings per share for the current year.

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.