Davis Capital Management Buys 2,325 Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Davis Capital Management grew its stake in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 141.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,974 shares of the technology company’s stock after purchasing an additional 2,325 shares during the period. Davis Capital Management’s holdings in Check Point Software Technologies were worth $742,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Robeco Institutional Asset Management B.V. boosted its stake in shares of Check Point Software Technologies by 10.7% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,836,799 shares of the technology company’s stock valued at $354,153,000 after purchasing an additional 177,104 shares in the last quarter. FMR LLC boosted its stake in Check Point Software Technologies by 28.7% during the third quarter. FMR LLC now owns 1,133,175 shares of the technology company’s stock worth $218,488,000 after acquiring an additional 252,581 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Check Point Software Technologies by 73.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,094,887 shares of the technology company’s stock worth $211,105,000 after acquiring an additional 464,821 shares in the last quarter. New York State Common Retirement Fund boosted its stake in Check Point Software Technologies by 8.9% during the third quarter. New York State Common Retirement Fund now owns 298,547 shares of the technology company’s stock worth $57,563,000 after acquiring an additional 24,421 shares in the last quarter. Finally, Marshall Wace LLP bought a new stake in Check Point Software Technologies during the second quarter worth about $47,244,000. Institutional investors own 98.51% of the company’s stock.

Analyst Upgrades and Downgrades

CHKP has been the topic of several research reports. Barclays dropped their price objective on shares of Check Point Software Technologies from $210.00 to $200.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 29th. Mizuho boosted their price objective on shares of Check Point Software Technologies from $178.00 to $205.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Truist Financial boosted their price objective on shares of Check Point Software Technologies from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Robert W. Baird decreased their target price on shares of 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. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Check Point Software Technologies in a report on Wednesday, October 30th. Seventeen analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $203.05.

Check Point Software Technologies Trading Up 2.7 %

Shares of CHKP stock opened at $192.96 on Wednesday. Check Point Software Technologies Ltd. has a 12 month low of $145.75 and a 12 month high of $210.70. The stock has a market cap of $21.22 billion, a P/E ratio of 26.36, a P/E/G ratio of 2.95 and a beta of 0.63. The company has a 50 day simple moving average of $184.17 and a two-hundred day simple moving average of $185.99.

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

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.