Sumitomo Mitsui DS Asset Management Company Ltd Boosts Stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 9.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,189 shares of the technology company’s stock after purchasing an additional 911 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Check Point Software Technologies were worth $1,557,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Concord Wealth Partners purchased a new stake in shares of Check Point Software Technologies during the 3rd quarter valued at $25,000. CNB Bank purchased a new stake in shares of Check Point Software Technologies during the 3rd quarter valued at $27,000. Bruce G. Allen Investments LLC purchased a new stake in shares of Check Point Software Technologies during the 4th quarter valued at $30,000. Salem Investment Counselors Inc. raised its stake in Check Point Software Technologies by 483.7% in the 4th quarter. Salem Investment Counselors Inc. now owns 286 shares of the technology company’s stock worth $44,000 after acquiring an additional 237 shares during the last quarter. Finally, Y.D. More Investments Ltd purchased a new position in Check Point Software Technologies in the 3rd quarter worth $49,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CHKP. William Blair upgraded Check Point Software Technologies from a “market perform” rating to an “outperform” rating in a research note on Wednesday, January 31st. Wells Fargo & Company raised their target price on Check Point Software Technologies from $132.00 to $162.00 and gave the stock an “equal weight” rating in a research note on Monday, January 29th. BMO Capital Markets raised their target price on Check Point Software Technologies from $175.00 to $185.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 7th. TD Cowen raised their target price on Check Point Software Technologies from $180.00 to $205.00 and gave the stock an “outperform” rating in a research note on Monday, March 18th. Finally, UBS Group raised their target price on Check Point Software Technologies from $140.00 to $170.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 10th. Thirteen analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $160.16.

Check Point Software Technologies Trading Up 0.1 %

Shares of Check Point Software Technologies stock opened at $161.00 on Thursday. The firm has a market capitalization of $19.44 billion, a PE ratio of 22.61, a P/E/G ratio of 2.57 and a beta of 0.61. Check Point Software Technologies Ltd. has a twelve month low of $117.18 and a twelve month high of $168.82. The firm’s 50-day moving average price is $161.87 and its 200 day moving average price is $152.78.

Check Point Software Technologies (NASDAQ:CHKP) last issued its quarterly earnings results on Tuesday, February 6th. The technology company reported $2.57 earnings per share for the quarter, beating analysts’ consensus estimates of $2.47 by $0.10. The firm had revenue of $663.50 million for the quarter, compared to analyst estimates of $662.09 million. Check Point Software Technologies had a net margin of 34.80% and a return on equity of 30.81%. Check Point Software Technologies’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period last year, the company posted $2.23 EPS. On average, sell-side analysts predict that Check Point Software Technologies Ltd. will post 7.85 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 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.