Check Point Software Technologies Ltd. (NASDAQ:CHKP) Stake Lifted by QRG Capital Management Inc.

QRG Capital Management Inc. increased its stake in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 19.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,442 shares of the technology company’s stock after buying an additional 391 shares during the quarter. QRG Capital Management Inc.’s holdings in Check Point Software Technologies were worth $557,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the business. Norges Bank acquired a new position in Check Point Software Technologies during the 4th quarter worth $428,820,000. Causeway Capital Management LLC boosted its position in Check Point Software Technologies by 33.8% during the 4th quarter. Causeway Capital Management LLC now owns 1,929,604 shares of the technology company’s stock worth $360,257,000 after acquiring an additional 487,823 shares during the period. First Trust Advisors LP boosted its position in Check Point Software Technologies by 17.4% during the 4th quarter. First Trust Advisors LP now owns 1,822,787 shares of the technology company’s stock worth $340,314,000 after acquiring an additional 269,925 shares during the period. Ameriprise Financial Inc. boosted its position in Check Point Software Technologies by 10.6% during the 4th quarter. Ameriprise Financial Inc. now owns 1,429,724 shares of the technology company’s stock worth $266,930,000 after acquiring an additional 136,699 shares during the period. Finally, Geode Capital Management LLC boosted its position in Check Point Software Technologies by 3.3% during the 4th quarter. Geode Capital Management LLC now owns 849,546 shares of the technology company’s stock worth $158,035,000 after acquiring an additional 27,267 shares during the period. Institutional investors and hedge funds own 98.51% of the company’s stock.

Wall Street Analyst Weigh In

CHKP has been the subject of a number of analyst reports. Bank of America upgraded Check Point Software Technologies from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $230.00 to $260.00 in a research report on Thursday, March 27th. JPMorgan Chase & Co. upgraded Check Point Software Technologies from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $221.00 to $255.00 in a research report on Wednesday, February 26th. Wall Street Zen upgraded Check Point Software Technologies from a “hold” rating to a “buy” rating in a research report on Tuesday, May 13th. Piper Sandler upgraded Check Point Software Technologies from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $220.00 to $260.00 in a research report on Monday, March 3rd. Finally, Baird R W upgraded Check Point Software Technologies from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 27th. Sixteen research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $232.44.

Check Point Software Technologies Stock Down 0.1%

Shares of Check Point Software Technologies stock opened at $218.21 on Friday. The stock’s fifty day moving average is $220.20 and its 200-day moving average is $211.61. The firm has a market capitalization of $24.00 billion, a PE ratio of 28.79, a price-to-earnings-growth ratio of 3.12 and a beta of 0.66. Check Point Software Technologies Ltd. has a 12-month low of $153.88 and a 12-month high of $234.36.

Check Point Software Technologies (NASDAQ:CHKP) last announced its quarterly earnings data on Wednesday, April 23rd. The technology company reported $2.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.19 by $0.02. The firm had revenue of $637.80 million during the quarter, compared to the consensus estimate of $635.80 million. Check Point Software Technologies had a return on equity of 32.88% and a net margin of 32.75%. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period in the prior year, the business earned $2.04 EPS. Analysts expect that Check Point Software Technologies Ltd. will post 8.61 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.