Acadian Asset Management LLC Has $609.51 Million Stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Acadian Asset Management LLC decreased its holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 8.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,716,702 shares of the technology company’s stock after selling 324,582 shares during the quarter. Check Point Software Technologies accounts for approximately 2.1% of Acadian Asset Management LLC’s investment portfolio, making the stock its 6th biggest holding. Acadian Asset Management LLC owned 3.08% of Check Point Software Technologies worth $609,513,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Bruce G. Allen Investments LLC purchased a new position in Check Point Software Technologies during the 4th quarter worth $30,000. Concord Wealth Partners bought a new stake in Check Point Software Technologies in the 1st quarter worth about $31,000. Richardson Financial Services Inc. purchased a new stake in Check Point Software Technologies in the 4th quarter valued at about $33,000. Salem Investment Counselors Inc. lifted its position in shares of Check Point Software Technologies by 483.7% during the 4th quarter. Salem Investment Counselors Inc. now owns 286 shares of the technology company’s stock worth $44,000 after buying an additional 237 shares in the last quarter. Finally, Y.D. More Investments Ltd boosted its stake in shares of Check Point Software Technologies by 37.0% in the 4th quarter. Y.D. More Investments Ltd now owns 500 shares of the technology company’s stock worth $76,000 after buying an additional 135 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

Check Point Software Technologies Price Performance

NASDAQ CHKP traded down $1.61 on Friday, reaching $170.49. 755,062 shares of the company’s stock traded hands, compared to its average volume of 621,525. The stock has a market cap of $19.25 billion, a PE ratio of 23.68, a P/E/G ratio of 2.69 and a beta of 0.62. Check Point Software Technologies Ltd. has a 12 month low of $125.68 and a 12 month high of $174.93. The stock has a 50-day simple moving average of $159.18 and a 200 day simple moving average of $159.41.

Check Point Software Technologies (NASDAQ:CHKP) last released its earnings results on Thursday, April 25th. The technology company reported $1.72 EPS for the quarter, meeting the consensus estimate of $1.72. The company had revenue of $598.80 million for the quarter, compared to analyst estimates of $595.28 million. Check Point Software Technologies had a net margin of 34.33% and a return on equity of 31.42%. As a group, analysts anticipate that Check Point Software Technologies Ltd. will post 7.79 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CHKP. Barclays boosted their price target on shares of Check Point Software Technologies from $170.00 to $175.00 and gave the company an “equal weight” rating in a research report on Friday, April 26th. Stifel Nicolaus dropped their price objective on Check Point Software Technologies from $170.00 to $165.00 and set a “hold” rating on the stock in a report on Friday, April 26th. Needham & Company LLC reaffirmed a “hold” rating on shares of Check Point Software Technologies in a report on Friday, April 26th. KeyCorp raised shares of Check Point Software Technologies to a “hold” rating in a report on Tuesday, May 14th. Finally, Wedbush reaffirmed an “outperform” rating and set a $185.00 price objective on shares of Check Point Software Technologies in a research note on Friday, April 26th. Thirteen analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Check Point Software Technologies has a consensus rating of “Hold” and a consensus price target of $169.18.

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.