BlackRock Inc. Boosts Stake in Check Point Software Technologies Ltd. (CHKP)

BlackRock Inc. lifted its position in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 0.6% in the third quarter, HoldingsChannel reports. The institutional investor owned 5,256,358 shares of the technology company’s stock after acquiring an additional 29,284 shares during the period. BlackRock Inc.’s holdings in Check Point Software Technologies were worth $618,516,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently bought and sold shares of the stock. Flossbach Von Storch AG raised its stake in Check Point Software Technologies by 1,455.9% in the second quarter. Flossbach Von Storch AG now owns 2,486,903 shares of the technology company’s stock valued at $242,921,000 after purchasing an additional 2,327,068 shares in the last quarter. FMR LLC raised its stake in Check Point Software Technologies by 3.4% in the second quarter. FMR LLC now owns 2,299,435 shares of the technology company’s stock valued at $224,609,000 after purchasing an additional 76,339 shares in the last quarter. Acadian Asset Management LLC raised its stake in Check Point Software Technologies by 451.9% in the third quarter. Acadian Asset Management LLC now owns 1,568,795 shares of the technology company’s stock valued at $184,596,000 after purchasing an additional 1,284,529 shares in the last quarter. Northern Trust Corp raised its stake in Check Point Software Technologies by 2.2% in the second quarter. Northern Trust Corp now owns 1,526,509 shares of the technology company’s stock valued at $149,108,000 after purchasing an additional 33,185 shares in the last quarter. Finally, Alliancebernstein L.P. raised its stake in Check Point Software Technologies by 124.5% in the third quarter. Alliancebernstein L.P. now owns 996,656 shares of the technology company’s stock valued at $117,277,000 after purchasing an additional 552,754 shares in the last quarter. 66.83% of the stock is owned by institutional investors and hedge funds.

A number of research analysts recently commented on CHKP shares. Wedbush started coverage on Check Point Software Technologies in a research note on Thursday, October 18th. They issued an “outperform” rating and a $140.00 price target for the company. BidaskClub downgraded Check Point Software Technologies from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 3rd. Zacks Investment Research raised Check Point Software Technologies from a “hold” rating to a “buy” rating and set a $133.00 price target for the company in a research note on Tuesday, September 25th. Robert W. Baird reiterated a “neutral” rating on shares of Check Point Software Technologies in a research report on Thursday, October 18th. Finally, ValuEngine upgraded Check Point Software Technologies from a “hold” rating to a “buy” rating in a research report on Thursday, November 15th. Eighteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $115.33.

Check Point Software Technologies stock opened at $110.21 on Thursday. Check Point Software Technologies Ltd. has a 12-month low of $93.76 and a 12-month high of $120.81. The stock has a market capitalization of $18.27 billion, a price-to-earnings ratio of 22.54, a price-to-earnings-growth ratio of 2.24 and a beta of 0.66.

Check Point Software Technologies (NASDAQ:CHKP) last released its earnings results on Wednesday, October 24th. The technology company reported $1.38 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.36 by $0.02. Check Point Software Technologies had a return on equity of 23.04% and a net margin of 43.35%. The firm had revenue of $470.80 million for the quarter, compared to analysts’ expectations of $465.94 million. During the same quarter in the previous year, the business posted $1.30 earnings per share. The business’s revenue for the quarter was up 3.5% on a year-over-year basis. On average, equities research analysts forecast that Check Point Software Technologies Ltd. will post 5.2 EPS for the current year.

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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 portfolio of network and gateway solutions, management solutions, and data and endpoint security solutions. It provides Check Point Infinity Architecture, a cyber security architecture that protects against 5th generation mega cyber-attacks across various networks, endpoint, cloud, and mobile; security gateways from platforms for small business and small office locations, high end and high demanding data centers, and perimeter environments; and Check Point SandBlast family for threat prevention and zero-day protections.

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

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