National Bank of Canada FI increased its position in Check Point Software Technologies Ltd. (NASDAQ:CHKP – Get Rating) by 684.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,293 shares of the technology company’s stock after acquiring an additional 8,981 shares during the quarter. National Bank of Canada FI’s holdings in Check Point Software Technologies were worth $1,473,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Boston Partners grew its holdings in Check Point Software Technologies by 15.6% during the 4th quarter. Boston Partners now owns 10,785 shares of the technology company’s stock valued at $1,257,000 after buying an additional 1,456 shares in the last quarter. Sciencast Management LP grew its holdings in Check Point Software Technologies by 25.9% during the 1st quarter. Sciencast Management LP now owns 4,466 shares of the technology company’s stock valued at $628,000 after buying an additional 920 shares in the last quarter. Avestar Capital LLC grew its holdings in Check Point Software Technologies by 7.9% during the 1st quarter. Avestar Capital LLC now owns 2,924 shares of the technology company’s stock valued at $404,000 after buying an additional 215 shares in the last quarter. Summit Global Investments grew its holdings in Check Point Software Technologies by 34.6% during the 1st quarter. Summit Global Investments now owns 17,258 shares of the technology company’s stock valued at $2,386,000 after buying an additional 4,432 shares in the last quarter. Finally, Kiltearn Partners LLP purchased a new stake in Check Point Software Technologies during the 4th quarter valued at approximately $22,380,000. 91.96% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of equities research analysts have issued reports on the stock. BMO Capital Markets cut their price objective on shares of Check Point Software Technologies from $155.00 to $150.00 and set an “outperform” rating for the company in a report on Tuesday, August 2nd. Wells Fargo & Company lowered their target price on Check Point Software Technologies from $144.00 to $130.00 in a research report on Thursday, April 28th. Jefferies Financial Group lowered their target price on Check Point Software Technologies from $145.00 to $130.00 in a research report on Monday, May 23rd. Credit Suisse Group increased their target price on Check Point Software Technologies from $105.00 to $115.00 in a research report on Thursday, April 28th. Finally, Bank of America upgraded Check Point Software Technologies from an “underperform” rating to a “buy” rating and increased their target price for the company from $130.00 to $140.00 in a research report on Wednesday, July 20th. Six investment analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $138.00.
Check Point Software Technologies Trading Up 0.4 %
NASDAQ:CHKP opened at $119.31 on Friday. Check Point Software Technologies Ltd. has a twelve month low of $107.85 and a twelve month high of $149.62. The company has a market cap of $14.96 billion, a price-to-earnings ratio of 19.75, a price-to-earnings-growth ratio of 2.57 and a beta of 0.60. The stock has a fifty day simple moving average of $123.53 and a 200-day simple moving average of $129.30.
Check Point Software Technologies (NASDAQ:CHKP – Get Rating) last announced its quarterly earnings results on Monday, August 1st. The technology company reported $1.64 EPS for the quarter, beating the consensus estimate of $1.62 by $0.02. The firm had revenue of $571.10 million for the quarter, compared to analyst estimates of $560.40 million. Check Point Software Technologies had a return on equity of 25.49% and a net margin of 35.15%. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.41 earnings per share. As a group, equities research analysts predict that Check Point Software Technologies Ltd. will post 6.29 EPS for the current fiscal 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 portfolio of network security, endpoint security, data security, and management solutions. It provides Check Point Infinity Architecture, a cyber security architecture that protects against 5th and 6th generation cyber-attacks across various networks, endpoint, cloud, workloads, Internet of Things, and mobile.
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