Franklin Resources Inc. Buys 10,861 Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Franklin Resources Inc. grew its position in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 7.0% during the third quarter, HoldingsChannel reports. The firm owned 166,641 shares of the technology company’s stock after buying an additional 10,861 shares during the quarter. Franklin Resources Inc.’s holdings in Check Point Software Technologies were worth $34,665,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Bank of Montreal Can raised its holdings in Check Point Software Technologies by 32.2% in the 3rd quarter. Bank of Montreal Can now owns 85,639 shares of the technology company’s stock worth $16,532,000 after acquiring an additional 20,866 shares during the period. CWA Asset Management Group LLC bought a new position in shares of Check Point Software Technologies in the third quarter worth about $1,599,000. MML Investors Services LLC lifted its position in shares of Check Point Software Technologies by 3.7% during the 3rd quarter. MML Investors Services LLC now owns 103,507 shares of the technology company’s stock worth $19,957,000 after purchasing an additional 3,655 shares during the last quarter. Martin Investment Management LLC boosted its stake in Check Point Software Technologies by 2.0% during the 3rd quarter. Martin Investment Management LLC now owns 163,357 shares of the technology company’s stock valued at $31,497,000 after purchasing an additional 3,225 shares during the period. Finally, New York State Common Retirement Fund grew its holdings in Check Point Software Technologies by 8.9% in the 3rd quarter. New York State Common Retirement Fund now owns 298,547 shares of the technology company’s stock valued at $57,563,000 after buying an additional 24,421 shares during the last quarter. 98.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on CHKP shares. Robert W. Baird cut their price target on Check Point Software Technologies from $210.00 to $205.00 and set a “neutral” rating for the company in a report on Wednesday, October 30th. Wedbush upped their target price on shares of Check Point Software Technologies from $200.00 to $230.00 and gave the company an “outperform” rating in a research note on Wednesday, October 9th. BMO Capital Markets raised their price target on shares of Check Point Software Technologies from $200.00 to $238.00 and gave the stock a “market perform” rating in a research report on Friday, October 25th. Stifel Nicolaus upped their price objective on shares of Check Point Software Technologies from $182.00 to $190.00 and gave the company a “hold” rating in a research report on Wednesday. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Check Point Software Technologies in a research note on Wednesday, October 30th. Fifteen investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $199.05.

Check Point Software Technologies Stock Performance

Shares of NASDAQ:CHKP opened at $181.09 on Thursday. The company’s fifty day moving average is $187.44 and its 200-day moving average is $181.48. Check Point Software Technologies Ltd. has a 52 week low of $145.75 and a 52 week high of $210.70. The company has a market capitalization of $19.92 billion, a PE ratio of 24.74, a P/E/G ratio of 3.21 and a beta of 0.63.

Check Point Software Technologies (NASDAQ:CHKP) last released its quarterly earnings results on Tuesday, October 29th. The technology company reported $2.25 EPS for the quarter, meeting analysts’ consensus estimates of $2.25. The firm had revenue of $635.10 million for the quarter, compared to analyst estimates of $634.96 million. Check Point Software Technologies had a net margin of 33.17% and a return on equity of 31.84%. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.80 earnings per share. On average, analysts forecast that Check Point Software Technologies Ltd. will post 7.87 EPS for the current year.

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.