Mirae Asset Global Investments Co. Ltd. Increases Stake in Check Point Software Technologies Ltd. (CHKP)

Mirae Asset Global Investments Co. Ltd. grew its position in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 36.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 42,384 shares of the technology company’s stock after purchasing an additional 11,382 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Check Point Software Technologies were worth $5,000,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Tower Research Capital LLC TRC acquired a new position in shares of Check Point Software Technologies in the second quarter valued at about $105,000. Fort L.P. purchased a new stake in shares of Check Point Software Technologies in the second quarter worth about $120,000. First Mercantile Trust Co. boosted its stake in shares of Check Point Software Technologies by 247.2% in the third quarter. First Mercantile Trust Co. now owns 1,361 shares of the technology company’s stock worth $160,000 after buying an additional 969 shares during the last quarter. Stratos Wealth Partners LTD. purchased a new position in Check Point Software Technologies during the third quarter worth approximately $167,000. Finally, GW Henssler & Associates Ltd. purchased a new position in Check Point Software Technologies during the third quarter worth approximately $211,000. 66.83% of the stock is currently owned by institutional investors and hedge funds.

A number of brokerages have issued reports on CHKP. BMO Capital Markets lowered their price target on Check Point Software Technologies to $120.00 and set a “market perform” rating on the stock in a research report on Friday, October 26th. Wedbush began coverage on Check Point Software Technologies in a research report on Thursday, October 18th. They set an “outperform” rating and a $140.00 price target on the stock. BidaskClub upgraded Check Point Software Technologies from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, September 18th. Morgan Stanley lowered their price target on Check Point Software Technologies from $116.00 to $115.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 25th. Finally, Zacks Investment Research downgraded Check Point Software Technologies from a “buy” rating to a “hold” rating in a research report on Monday, October 1st. Eighteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Check Point Software Technologies has an average rating of “Hold” and an average price target of $115.33.

Shares of Check Point Software Technologies stock opened at $109.99 on Friday. Check Point Software Technologies Ltd. has a 12 month low of $93.76 and a 12 month high of $120.81. The company has a market cap of $18.01 billion, a price-to-earnings ratio of 22.49, a PEG ratio of 2.19 and a beta of 0.66.

Check Point Software Technologies (NASDAQ:CHKP) last announced its earnings results on Wednesday, October 24th. The technology company reported $1.38 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $470.80 million during the quarter, compared to analysts’ expectations of $465.94 million. During the same quarter in the prior year, the firm earned $1.30 earnings per share. The business’s revenue was up 3.5% compared to the same quarter last year. Equities research analysts expect that Check Point Software Technologies Ltd. will post 5.2 EPS for the current fiscal 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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