Check Point Software Technologies Ltd. (NASDAQ:CHKP) Shares Purchased by KBC Group NV

KBC Group NV grew its stake in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 41.6% in the 3rd quarter, Holdings Channel reports. The firm owned 122,777 shares of the technology company’s stock after acquiring an additional 36,042 shares during the quarter. KBC Group NV’s holdings in Check Point Software Technologies were worth $23,673,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in CHKP. Swedbank AB acquired a new stake in Check Point Software Technologies during the 1st quarter worth about $69,487,000. Boston Partners increased its holdings in shares of Check Point Software Technologies by 13.1% during the 1st quarter. Boston Partners now owns 3,623,923 shares of the technology company’s stock valued at $594,169,000 after acquiring an additional 419,404 shares during the last quarter. Acadian Asset Management LLC raised its position in shares of Check Point Software Technologies by 10.5% in the second quarter. Acadian Asset Management LLC now owns 4,108,685 shares of the technology company’s stock valued at $677,869,000 after purchasing an additional 391,983 shares during the period. Marshall Wace LLP acquired a new position in Check Point Software Technologies during the 2nd quarter worth $47,244,000. Finally, Meitav Investment House Ltd. boosted its stake in Check Point Software Technologies by 1,295.8% during the 2nd quarter. Meitav Investment House Ltd. now owns 209,612 shares of the technology company’s stock valued at $34,557,000 after purchasing an additional 194,595 shares during the period. 87.62% of the stock is currently owned by institutional investors.

Check Point Software Technologies Trading Down 1.9 %

Check Point Software Technologies stock opened at $174.25 on Friday. The firm’s fifty day moving average price is $191.81 and its two-hundred day moving average price is $175.88. The firm has a market capitalization of $19.16 billion, a price-to-earnings ratio of 23.80, a price-to-earnings-growth ratio of 3.02 and a beta of 0.63. Check Point Software Technologies Ltd. has a 1-year low of $139.55 and a 1-year high of $210.70.

Check Point Software Technologies (NASDAQ:CHKP) last released its quarterly earnings results on Tuesday, October 29th. The technology company reported $2.25 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.25. The business had revenue of $635.10 million during the quarter, compared to the consensus estimate of $634.96 million. Check Point Software Technologies had a return on equity of 31.84% and a net margin of 33.17%. The company’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.80 EPS. On average, research analysts forecast that Check Point Software Technologies Ltd. will post 7.87 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Scotiabank lifted their target price on Check Point Software Technologies from $180.00 to $200.00 and gave the stock a “sector outperform” rating in a research report on Thursday, July 25th. Royal Bank of Canada reissued a “sector perform” rating and set a $187.00 price target on shares of Check Point Software Technologies in a report on Wednesday, October 30th. Bank of America lowered shares of Check Point Software Technologies from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $205.00 to $195.00 in a report on Wednesday, October 30th. Needham & Company LLC reissued a “hold” rating on shares of Check Point Software Technologies in a report on Wednesday, October 30th. Finally, Robert W. Baird dropped their price target on Check Point Software Technologies from $210.00 to $205.00 and set a “neutral” rating for the company in a report on Wednesday, October 30th. Fifteen analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $197.74.

Check Point Software Technologies 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.