Dai ichi Life Insurance Company Ltd Buys 35,203 Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Dai ichi Life Insurance Company Ltd boosted its stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 283.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 47,605 shares of the technology company’s stock after purchasing an additional 35,203 shares during the quarter. Dai ichi Life Insurance Company Ltd’s holdings in Check Point Software Technologies were worth $7,855,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. O Neil Global Advisors Inc. acquired a new stake in Check Point Software Technologies in the second quarter worth $232,000. DekaBank Deutsche Girozentrale lifted its holdings in Check Point Software Technologies by 2.4% during the second quarter. DekaBank Deutsche Girozentrale now owns 582,352 shares of the technology company’s stock worth $94,654,000 after acquiring an additional 13,854 shares in the last quarter. Achmea Investment Management B.V. grew its stake in Check Point Software Technologies by 60.9% in the second quarter. Achmea Investment Management B.V. now owns 94,076 shares of the technology company’s stock valued at $15,522,000 after acquiring an additional 35,603 shares during the period. American Century Companies Inc. increased its holdings in shares of Check Point Software Technologies by 11.9% in the second quarter. American Century Companies Inc. now owns 18,110 shares of the technology company’s stock worth $2,988,000 after acquiring an additional 1,920 shares in the last quarter. Finally, Steigerwald Gordon & Koch Inc. raised its position in shares of Check Point Software Technologies by 3.1% during the second quarter. Steigerwald Gordon & Koch Inc. now owns 120,010 shares of the technology company’s stock worth $19,802,000 after purchasing an additional 3,658 shares during the period. Institutional investors and hedge funds own 87.62% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. BMO Capital Markets increased their target price on Check Point Software Technologies from $180.00 to $200.00 and gave the stock a “market perform” rating in a research note on Thursday, July 25th. Susquehanna raised their price objective on shares of Check Point Software Technologies from $200.00 to $215.00 and gave the stock a “positive” rating in a report on Thursday, July 25th. Needham & Company LLC reaffirmed a “hold” rating on shares of Check Point Software Technologies in a research note on Thursday, July 25th. Wedbush lifted their price target on Check Point Software Technologies from $185.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Finally, JPMorgan Chase & Co. upped their price objective on Check Point Software Technologies from $175.00 to $180.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. Fifteen investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, Check Point Software Technologies presently has an average rating of “Hold” and an average price target of $183.68.

Check Point Software Technologies Trading Up 2.4 %

Shares of NASDAQ CHKP opened at $195.17 on Friday. The company has a market capitalization of $22.04 billion, a P/E ratio of 27.11, a P/E/G ratio of 2.96 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 $195.29. The stock has a 50 day moving average of $182.33 and a 200-day moving average of $166.67.

Check Point Software Technologies (NASDAQ:CHKP) last released its quarterly earnings data 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 firm had revenue of $627.40 million during 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 company’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.74 earnings per share. Analysts predict that Check Point Software Technologies Ltd. will post 7.83 EPS for the current fiscal year.

About Check Point Software Technologies

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.