Ameriprise Financial Inc. Purchases 232,368 Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Ameriprise Financial Inc. lifted its position in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 13.4% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,967,323 shares of the technology company’s stock after acquiring an additional 232,368 shares during the period. Ameriprise Financial Inc. owned 1.63% of Check Point Software Technologies worth $255,721,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CHKP. Private Advisor Group LLC increased its position in Check Point Software Technologies by 40.4% during the 1st quarter. Private Advisor Group LLC now owns 3,555 shares of the technology company’s stock valued at $492,000 after buying an additional 1,023 shares in the last quarter. Yousif Capital Management LLC increased its position in Check Point Software Technologies by 7.7% during the 1st quarter. Yousif Capital Management LLC now owns 6,814 shares of the technology company’s stock valued at $942,000 after buying an additional 485 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in Check Point Software Technologies by 12.1% during the 1st quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 3,715 shares of the technology company’s stock valued at $514,000 after buying an additional 400 shares in the last quarter. Synovus Financial Corp bought a new position in Check Point Software Technologies during the 1st quarter valued at approximately $210,000. Finally, Cibc World Market Inc. bought a new position in Check Point Software Technologies during the 1st quarter valued at approximately $3,511,000. Institutional investors own 68.34% of the company’s stock.

Check Point Software Technologies Stock Performance

NASDAQ CHKP opened at $136.02 on Friday. The business’s fifty day moving average is $130.82 and its 200 day moving average is $127.84. The company has a market capitalization of $16.43 billion, a PE ratio of 19.74, a price-to-earnings-growth ratio of 2.49 and a beta of 0.65. Check Point Software Technologies Ltd. has a fifty-two week low of $107.54 and a fifty-two week high of $137.19.

Check Point Software Technologies (NASDAQ:CHKP) last posted its quarterly earnings results on Wednesday, July 26th. The technology company reported $2.00 EPS for the quarter, beating analysts’ consensus estimates of $1.90 by $0.10. The business had revenue of $588.70 million for the quarter, compared to analysts’ expectations of $589.66 million. Check Point Software Technologies had a return on equity of 29.80% and a net margin of 35.43%. The business’s quarterly revenue was up 3.1% on a year-over-year basis. During the same period last year, the firm earned $1.40 earnings per share. On average, sell-side analysts forecast that Check Point Software Technologies Ltd. will post 7.14 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CHKP. Morgan Stanley raised their price objective on Check Point Software Technologies from $116.00 to $118.00 and gave the company an “underweight” rating in a research report on Thursday, July 27th. Citigroup increased their target price on Check Point Software Technologies from $125.00 to $135.00 and gave the company a “neutral” rating in a research note on Tuesday, August 29th. Robert W. Baird increased their target price on Check Point Software Technologies from $130.00 to $140.00 in a research note on Tuesday, July 25th. OTR Global downgraded Check Point Software Technologies to a “positive” rating in a research note on Monday, July 10th. Finally, BMO Capital Markets increased their target price on Check Point Software Technologies from $133.00 to $140.00 and gave the company a “market perform” rating in a research note on Thursday, July 27th. Three research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $136.59.

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.