Legacy Capital Group California Inc. Grows Position in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Legacy Capital Group California Inc. lifted its holdings in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 6.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,613 shares of the technology company’s stock after purchasing an additional 102 shares during the quarter. Legacy Capital Group California Inc.’s holdings in Check Point Software Technologies were worth $266,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Boston Partners boosted its position in Check Point Software Technologies by 13.1% during the first quarter. Boston Partners now owns 3,623,923 shares of the technology company’s stock valued at $594,169,000 after buying an additional 419,404 shares during the period. Ninety One UK Ltd lifted its holdings in Check Point Software Technologies by 1.1% in the 2nd quarter. Ninety One UK Ltd now owns 3,608,785 shares of the technology company’s stock worth $595,450,000 after buying an additional 39,092 shares during the period. Nordea Investment Management AB grew its position in shares of Check Point Software Technologies by 3.0% in the 1st quarter. Nordea Investment Management AB now owns 2,674,761 shares of the technology company’s stock worth $440,266,000 after buying an additional 77,849 shares during the last quarter. Morningstar Investment Services LLC boosted its holdings in Check Point Software Technologies by 98.5% in the fourth quarter. Morningstar Investment Services LLC now owns 970,634 shares of the technology company’s stock valued at $148,080,000 after acquiring an additional 481,626 shares in the last quarter. Finally, Westwood Global Investments LLC increased its position in Check Point Software Technologies by 1.2% during the 1st quarter. Westwood Global Investments LLC now owns 807,862 shares of the technology company’s stock valued at $132,497,000 after purchasing an additional 9,838 shares during the period. 87.62% of the stock is currently owned by institutional investors.

Check Point Software Technologies Stock Performance

Shares of NASDAQ CHKP traded up $0.26 during trading on Wednesday, hitting $188.86. The company had a trading volume of 344,305 shares, compared to its average volume of 703,435. The stock has a 50 day simple moving average of $171.86 and a 200 day simple moving average of $163.09. The firm has a market capitalization of $21.32 billion, a P/E ratio of 26.19, a price-to-earnings-growth ratio of 2.84 and a beta of 0.62. Check Point Software Technologies Ltd. has a 12 month low of $126.57 and a 12 month high of $190.68.

Check Point Software Technologies (NASDAQ:CHKP) last released 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. The company had revenue of $627.40 million for the quarter, compared to analysts’ expectations of $623.19 million. Check Point Software Technologies had a net margin of 33.61% and a return on equity of 31.59%. The firm’s revenue was up 6.6% compared to the same quarter last year. During the same quarter last year, the business earned $1.74 EPS. As a group, analysts predict that Check Point Software Technologies Ltd. will post 7.83 EPS for the current year.

Analyst Upgrades and Downgrades

CHKP has been the topic of several research analyst reports. KeyCorp upgraded shares of Check Point Software Technologies to a “hold” rating in a research report on Tuesday, May 14th. Susquehanna increased their target price on Check Point Software Technologies from $200.00 to $215.00 and gave the stock a “positive” rating in a research report on Thursday, July 25th. Robert W. Baird lifted their price target on Check Point Software Technologies from $168.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday, July 25th. Royal Bank of Canada increased their price objective on Check Point Software Technologies from $165.00 to $187.00 and gave the stock a “sector perform” rating in a report on Thursday, July 25th. Finally, Wedbush boosted their price objective 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, July 25th. Fifteen investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $183.68.

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.