Envestnet Asset Management Inc. Purchases 13,707 Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Envestnet Asset Management Inc. increased its position in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 3.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 415,097 shares of the technology company’s stock after acquiring an additional 13,707 shares during the period. Envestnet Asset Management Inc. owned about 0.37% of Check Point Software Technologies worth $68,491,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Morningstar Investment Services LLC increased its stake in shares of Check Point Software Technologies by 98.5% in the 4th quarter. Morningstar Investment Services LLC now owns 970,634 shares of the technology company’s stock valued at $148,080,000 after purchasing an additional 481,626 shares during the last quarter. Swedbank AB bought a new position in Check Point Software Technologies in the first quarter valued at about $69,487,000. Boston Partners raised its stake in Check Point Software Technologies by 13.1% during the first quarter. Boston Partners now owns 3,623,923 shares of the technology company’s stock worth $594,169,000 after acquiring an additional 419,404 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in shares of Check Point Software Technologies by 10.5% in the second quarter. Acadian Asset Management LLC now owns 4,108,685 shares of the technology company’s stock worth $677,869,000 after acquiring an additional 391,983 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Check Point Software Technologies in the 4th quarter valued at approximately $29,801,000. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Check Point Software Technologies in a research report on Thursday, July 25th. Truist Financial reiterated a “buy” rating and issued a $200.00 price target (up from $175.00) on shares of Check Point Software Technologies in a research note on Thursday, July 25th. Royal Bank of Canada boosted their price objective on Check Point Software Technologies from $165.00 to $187.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 25th. Barclays increased their target price on Check Point Software Technologies from $175.00 to $192.00 and gave the company an “equal weight” rating in a research report on Thursday, July 25th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Check Point Software Technologies from $175.00 to $185.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Fifteen research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $183.68.

Check Point Software Technologies Price Performance

Shares of NASDAQ:CHKP opened at $191.70 on Wednesday. Check Point Software Technologies Ltd. has a 1 year low of $126.57 and a 1 year high of $195.29. The business’s 50-day moving average is $183.24 and its 200-day moving average is $167.17. The company has a market capitalization of $21.64 billion, a price-to-earnings ratio of 26.63, a P/E/G ratio of 2.96 and a beta of 0.62.

Check Point Software Technologies (NASDAQ:CHKP) last issued its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.16 by $0.01. The firm had revenue of $627.40 million for the quarter, compared to analyst estimates of $623.19 million. Check Point Software Technologies had a return on equity of 31.59% and a net margin of 33.61%. The company’s revenue was up 6.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.74 earnings per share. Analysts anticipate that Check Point Software Technologies Ltd. will post 7.83 EPS 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.