Bleakley Financial Group LLC Raises Stock Position in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Bleakley Financial Group LLC raised its stake in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 3.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,797 shares of the technology company’s stock after purchasing an additional 57 shares during the quarter. Bleakley Financial Group LLC’s holdings in Check Point Software Technologies were worth $346,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA increased its position in Check Point Software Technologies by 2.1% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,527,700 shares of the technology company’s stock valued at $912,070,000 after purchasing an additional 114,938 shares during the period. Acadian Asset Management LLC boosted its holdings in shares of Check Point Software Technologies by 10.5% during the 2nd quarter. Acadian Asset Management LLC now owns 4,108,685 shares of the technology company’s stock valued at $677,869,000 after buying an additional 391,983 shares in the last quarter. Boston Partners boosted its holdings in shares of Check Point Software Technologies by 13.1% during the 1st quarter. Boston Partners now owns 3,623,923 shares of the technology company’s stock valued at $594,169,000 after buying an additional 419,404 shares in the last quarter. Ninety One UK Ltd boosted its holdings in shares of Check Point Software Technologies by 1.1% during the 2nd quarter. Ninety One UK Ltd now owns 3,608,785 shares of the technology company’s stock valued at $595,450,000 after buying an additional 39,092 shares in the last quarter. Finally, Nordea Investment Management AB boosted its holdings in shares of Check Point Software Technologies by 3.0% during the 1st quarter. Nordea Investment Management AB now owns 2,674,761 shares of the technology company’s stock valued at $440,266,000 after buying an additional 77,849 shares in the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on CHKP shares. JPMorgan Chase & Co. boosted their target price on shares of Check Point Software Technologies from $175.00 to $180.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. Susquehanna boosted their target price on shares of Check Point Software Technologies from $200.00 to $215.00 and gave the company a “positive” rating in a report on Thursday, July 25th. Truist Financial restated a “buy” rating and set a $200.00 target price (up previously from $175.00) on shares of Check Point Software Technologies in a report on Thursday, July 25th. Scotiabank upped their price target on shares of Check Point Software Technologies from $180.00 to $200.00 and gave the stock a “sector outperform” rating in a research note on Thursday, July 25th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Check Point Software Technologies from $175.00 to $185.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Fifteen equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Check Point Software Technologies presently has a consensus rating of “Hold” and a consensus target price of $191.44.

Check Point Software Technologies Stock Up 1.0 %

NASDAQ CHKP opened at $207.32 on Wednesday. Check Point Software Technologies Ltd. has a 52 week low of $126.57 and a 52 week high of $210.70. The firm has a market capitalization of $23.41 billion, a P/E ratio of 28.79, a PEG ratio of 3.17 and a beta of 0.62. The company has a 50-day moving average price of $194.06 and a 200-day moving average price of $173.36.

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

Check Point Software Technologies Company 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.