Bessemer Group Inc. Grows Stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Bessemer Group Inc. grew its position in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 2,173.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 124,024 shares of the technology company’s stock after buying an additional 118,569 shares during the quarter. Bessemer Group Inc. owned 0.11% of Check Point Software Technologies worth $20,342,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. BSW Wealth Partners boosted its stake in Check Point Software Technologies by 3.7% in the fourth quarter. BSW Wealth Partners now owns 2,162 shares of the technology company’s stock valued at $330,000 after acquiring an additional 78 shares in the last quarter. Guardian Wealth Management Inc. lifted its stake in Check Point Software Technologies by 0.5% during the 4th quarter. Guardian Wealth Management Inc. now owns 18,633 shares of the technology company’s stock valued at $2,847,000 after acquiring an additional 85 shares during the period. Pacer Advisors Inc. boosted its holdings in Check Point Software Technologies by 6.9% in the fourth quarter. Pacer Advisors Inc. now owns 1,383 shares of the technology company’s stock valued at $211,000 after purchasing an additional 89 shares during the last quarter. Butensky & Cohen Financial Security Inc. boosted its stake in shares of Check Point Software Technologies by 0.4% in the first quarter. Butensky & Cohen Financial Security Inc. now owns 26,472 shares of the technology company’s stock worth $4,342,000 after buying an additional 102 shares during the last quarter. Finally, Brookstone Capital Management boosted its position in Check Point Software Technologies by 1.7% in the 4th quarter. Brookstone Capital Management now owns 6,175 shares of the technology company’s stock worth $943,000 after purchasing an additional 103 shares in the last quarter. Institutional investors own 87.62% of the company’s stock.

Check Point Software Technologies Stock Performance

Shares of CHKP traded up $3.50 during midday trading on Thursday, hitting $183.57. The company had a trading volume of 160,059 shares, compared to its average volume of 705,467. Check Point Software Technologies Ltd. has a 1 year low of $125.68 and a 1 year high of $184.58. The firm has a market capitalization of $20.73 billion, a P/E ratio of 25.17, a P/E/G ratio of 2.68 and a beta of 0.62. The company’s 50-day simple moving average is $160.63 and its 200-day simple moving average is $159.86.

Check Point Software Technologies (NASDAQ:CHKP) last issued its earnings results on Wednesday, July 24th. The technology company reported $2.17 EPS for the quarter, topping analysts’ consensus estimates of $2.16 by $0.01. Check Point Software Technologies had a net margin of 34.33% and a return on equity of 31.42%. The firm had revenue of $627.40 million during the quarter, compared to the consensus estimate of $623.19 million. During the same quarter in the previous year, the firm posted $1.74 earnings per share. The company’s revenue was up 6.6% compared to the same quarter last year. Equities analysts predict that Check Point Software Technologies Ltd. will post 7.79 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CHKP. Wedbush increased their target price on shares of Check Point Software Technologies from $185.00 to $200.00 and gave the stock an “outperform” rating in a research note on Thursday. Mizuho restated a “neutral” rating and set a $160.00 price target on shares of Check Point Software Technologies in a research report on Wednesday, March 27th. Susquehanna upped their target price on Check Point Software Technologies from $200.00 to $215.00 and gave the company a “positive” rating in a report on Thursday. Barclays increased their price target on shares of Check Point Software Technologies from $175.00 to $192.00 and gave the company an “equal weight” rating in a research note on Thursday. Finally, Robert W. Baird raised their price objective on Check Point Software Technologies from $168.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday. Fourteen equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $177.24.

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 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.