Check Point Software Technologies Ltd. (NASDAQ:CHKP) Stock Holdings Lessened by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. cut its stake in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 84.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,283 shares of the technology company’s stock after selling 110,651 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Check Point Software Technologies were worth $3,787,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of CHKP. American Century Companies Inc. lifted its holdings in shares of Check Point Software Technologies by 11.9% in the second quarter. American Century Companies Inc. now owns 18,110 shares of the technology company’s stock valued at $2,988,000 after purchasing an additional 1,920 shares in the last quarter. Dimensional Fund Advisors LP acquired a new stake in Check Point Software Technologies during the 2nd quarter worth about $2,079,000. AE Wealth Management LLC purchased a new position in Check Point Software Technologies during the 2nd quarter valued at about $327,000. Thrivent Financial for Lutherans increased its holdings in shares of Check Point Software Technologies by 89.7% in the 2nd quarter. Thrivent Financial for Lutherans now owns 110,627 shares of the technology company’s stock valued at $18,253,000 after purchasing an additional 52,300 shares during the period. Finally, 1832 Asset Management L.P. lifted its position in shares of Check Point Software Technologies by 8.9% in the second quarter. 1832 Asset Management L.P. now owns 28,522 shares of the technology company’s stock worth $4,706,000 after purchasing an additional 2,320 shares in the last quarter. 98.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CHKP has been the topic of several research reports. Needham & Company LLC reiterated a “hold” rating on shares of Check Point Software Technologies in a research note on Wednesday, October 30th. Truist Financial increased their price objective on Check Point Software Technologies from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Piper Sandler lifted their price objective on Check Point Software Technologies from $185.00 to $195.00 and gave the company a “neutral” rating in a research report on Monday, January 6th. Evercore ISI upped their target price on Check Point Software Technologies from $180.00 to $185.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. Finally, BMO Capital Markets lifted their price target on Check Point Software Technologies from $200.00 to $238.00 and gave the company a “market perform” rating in a report on Friday, October 25th. Seventeen investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Check Point Software Technologies has a consensus rating of “Hold” and an average price target of $203.05.

Check Point Software Technologies Price Performance

Shares of NASDAQ:CHKP opened at $192.96 on Wednesday. The stock has a market capitalization of $21.22 billion, a price-to-earnings ratio of 26.36, a price-to-earnings-growth ratio of 2.95 and a beta of 0.63. The business’s fifty day moving average price is $184.17 and its two-hundred day moving average price is $185.99. Check Point Software Technologies Ltd. has a fifty-two week low of $145.75 and a fifty-two week high of $210.70.

Check Point Software Technologies (NASDAQ:CHKP) last posted its quarterly earnings data on Tuesday, October 29th. The technology company reported $2.25 EPS for the quarter, hitting analysts’ consensus estimates of $2.25. Check Point Software Technologies had a return on equity of 31.84% and a net margin of 33.17%. The company had revenue of $635.10 million for the quarter, compared to analyst estimates of $634.96 million. During the same quarter in the previous year, the firm earned $1.80 earnings per share. The business’s revenue was up 6.5% on a year-over-year basis. Research analysts expect that Check Point Software Technologies Ltd. will post 7.87 EPS for the current fiscal 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.