Public Sector Pension Investment Board Raises Position in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Public Sector Pension Investment Board increased its position in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 2.1% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 37,936 shares of the technology company’s stock after purchasing an additional 764 shares during the period. Public Sector Pension Investment Board’s holdings in Check Point Software Technologies were worth $6,259,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Tidal Investments LLC acquired a new position in shares of Check Point Software Technologies during the 1st quarter worth $6,558,000. Principal Financial Group Inc. increased its holdings in Check Point Software Technologies by 69.3% in the fourth quarter. Principal Financial Group Inc. now owns 27,026 shares of the technology company’s stock valued at $4,129,000 after buying an additional 11,064 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of Check Point Software Technologies during the 1st quarter valued at approximately $1,095,000. Envestnet Asset Management Inc. lifted its position in shares of Check Point Software Technologies by 4.9% during the 4th quarter. Envestnet Asset Management Inc. now owns 379,889 shares of the technology company’s stock valued at $58,043,000 after acquiring an additional 17,916 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Check Point Software Technologies by 8.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 97,434 shares of the technology company’s stock worth $15,980,000 after acquiring an additional 7,357 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

Check Point Software Technologies Stock Down 0.6 %

Shares of NASDAQ CHKP opened at $194.04 on Thursday. The stock has a market capitalization of $21.91 billion, a PE ratio of 26.95, a P/E/G ratio of 3.05 and a beta of 0.62. The firm has a fifty day moving average of $185.36 and a 200-day moving average of $168.38. Check Point Software Technologies Ltd. has a 52-week low of $126.57 and a 52-week high of $196.56.

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

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on CHKP shares. Jefferies Financial Group lifted their price objective on Check Point Software Technologies from $210.00 to $225.00 and gave the stock a “buy” rating in a report on Tuesday. Wedbush boosted their price objective on shares of Check Point Software Technologies from $185.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Truist Financial restated a “buy” rating and set a $200.00 target price (up from $175.00) on shares of Check Point Software Technologies in a report on Thursday, July 25th. Royal Bank of Canada upped their price target on shares of Check Point Software Technologies from $165.00 to $187.00 and gave the company a “sector perform” rating in a report on Thursday, July 25th. Finally, Evercore ISI raised shares of Check Point Software Technologies to a “hold” rating in a research note on Monday, September 16th. Sixteen equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $184.47.

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.