ING Groep NV Acquires New Position in Check Point Software Technologies (CHKP)

ING Groep NV acquired a new stake in Check Point Software Technologies (NASDAQ:CHKP) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 17,001 shares of the technology company’s stock, valued at approximately $1,689,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Earnest Partners LLC acquired a new stake in shares of Check Point Software Technologies in the 4th quarter worth $100,959,000. Massachusetts Financial Services Co. MA increased its stake in shares of Check Point Software Technologies by 7.0% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 12,411,680 shares of the technology company’s stock worth $1,232,978,000 after acquiring an additional 810,803 shares during the last quarter. Wells Fargo & Company MN increased its stake in shares of Check Point Software Technologies by 29.0% in the 1st quarter. Wells Fargo & Company MN now owns 2,121,257 shares of the technology company’s stock worth $210,726,000 after acquiring an additional 477,013 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of Check Point Software Technologies by 48.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,191,511 shares of the technology company’s stock worth $123,464,000 after acquiring an additional 391,569 shares during the last quarter. Finally, Atlanta Capital Management Co. L L C increased its stake in shares of Check Point Software Technologies by 77.1% in the 4th quarter. Atlanta Capital Management Co. L L C now owns 732,689 shares of the technology company’s stock worth $75,921,000 after acquiring an additional 318,864 shares during the last quarter. 67.92% of the stock is owned by hedge funds and other institutional investors.

A number of analysts have issued reports on CHKP shares. BidaskClub downgraded Check Point Software Technologies from a “hold” rating to a “sell” rating in a research note on Tuesday, January 16th. Zacks Investment Research raised Check Point Software Technologies from a “sell” rating to a “hold” rating in a research note on Monday, February 5th. Wells Fargo downgraded Check Point Software Technologies from an “outperform” rating to a “market perform” rating and raised their target price for the stock from $103.41 to $117.00 in a research note on Thursday, February 1st. JPMorgan Chase cut their target price on Check Point Software Technologies to $113.00 and set a “neutral” rating for the company in a research note on Wednesday, January 31st. Finally, Cleveland Research downgraded Check Point Software Technologies from a “buy” rating to a “neutral” rating in a research note on Thursday, January 25th. Two equities research analysts have rated the stock with a sell rating, twenty-four have given a hold rating and four have issued a buy rating to the company’s stock. Check Point Software Technologies currently has an average rating of “Hold” and a consensus price target of $109.99.

Shares of Check Point Software Technologies stock opened at $96.85 on Wednesday. Check Point Software Technologies has a 12 month low of $96.53 and a 12 month high of $97.71. The stock has a market cap of $16.17 billion, a P/E ratio of 19.87, a PEG ratio of 2.00 and a beta of 0.66.

Check Point Software Technologies (NASDAQ:CHKP) last announced its earnings results on Wednesday, April 25th. The technology company reported $1.30 EPS for the quarter, beating analysts’ consensus estimates of $1.28 by $0.02. Check Point Software Technologies had a return on equity of 22.83% and a net margin of 43.15%. The company had revenue of $452.30 million during the quarter, compared to analysts’ expectations of $452.13 million. During the same period last year, the business posted $1.20 EPS. Check Point Software Technologies’s revenue for the quarter was up 3.9% on a year-over-year basis. equities analysts anticipate that Check Point Software Technologies will post 5.11 earnings per share for the current fiscal year.

Check Point Software Technologies Profile

Check Point Software Technologies Ltd. provides hardware and software products and services for IT security worldwide. The company offers a portfolio of network security, endpoint security, data security, and management solutions. It provides security gateways to protect the networks and prevent the threats of enterprises, data centers, and small and large branch offices; security gateway appliances, including platforms for small business and small office locations, high end and high demanding data centers, and perimeter environments; and security management software, which offers security management through a single console that streamlines security operations and provides visibility into policy administration and threat analysis.

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Institutional Ownership by Quarter for Check Point Software Technologies (NASDAQ:CHKP)

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