Sumitomo Mitsui DS Asset Management Company Ltd Increases Stock Position in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 9.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 10,189 shares of the technology company’s stock after buying an additional 911 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Check Point Software Technologies were worth $1,557,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of CHKP. BSW Wealth Partners raised its holdings in shares of 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 buying an additional 78 shares during the last quarter. Koshinski Asset Management Inc. raised its holdings in shares of Check Point Software Technologies by 3.6% in the third quarter. Koshinski Asset Management Inc. now owns 2,559 shares of the technology company’s stock valued at $341,000 after buying an additional 89 shares during the last quarter. Pacer Advisors Inc. raised its holdings in shares of 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 buying an additional 89 shares during the last quarter. Dark Forest Capital Management LP raised its holdings in shares of Check Point Software Technologies by 2.1% in the third quarter. Dark Forest Capital Management LP now owns 5,126 shares of the technology company’s stock valued at $683,000 after buying an additional 103 shares during the last quarter. Finally, Brookstone Capital Management raised its holdings in shares of Check Point Software Technologies by 1.7% in the fourth quarter. Brookstone Capital Management now owns 6,175 shares of the technology company’s stock valued at $943,000 after buying an additional 103 shares during the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CHKP. Scotiabank upped their target price on shares of Check Point Software Technologies from $170.00 to $180.00 and gave the company a “sector outperform” rating in a report on Wednesday, February 7th. Truist Financial increased their price target on shares of Check Point Software Technologies from $170.00 to $175.00 and gave the stock a “buy” rating in a report on Wednesday, February 7th. BMO Capital Markets increased their price target on shares of Check Point Software Technologies from $175.00 to $185.00 and gave the stock a “market perform” rating in a report on Wednesday, February 7th. Susquehanna increased their price target on shares of Check Point Software Technologies from $190.00 to $200.00 and gave the stock a “positive” rating in a report on Wednesday, February 7th. Finally, Citigroup increased their price target on shares of Check Point Software Technologies from $140.00 to $155.00 and gave the stock a “neutral” rating in a report on Wednesday, January 10th. Thirteen 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, Check Point Software Technologies currently has a consensus rating of “Hold” and an average price target of $160.16.

Check Point Software Technologies Trading Up 0.1 %

Shares of CHKP opened at $161.00 on Thursday. The firm’s 50-day moving average is $161.87 and its two-hundred day moving average is $152.78. Check Point Software Technologies Ltd. has a twelve month low of $117.18 and a twelve month high of $168.82. The firm has a market capitalization of $19.44 billion, a P/E ratio of 22.61, a PEG ratio of 2.57 and a beta of 0.61.

Check Point Software Technologies (NASDAQ:CHKP) last released its quarterly earnings results on Tuesday, February 6th. The technology company reported $2.57 EPS for the quarter, beating the consensus estimate of $2.47 by $0.10. The business had revenue of $663.50 million for the quarter, compared to analyst estimates of $662.09 million. Check Point Software Technologies had a net margin of 34.80% and a return on equity of 30.81%. The company’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the business earned $2.23 earnings per share. Analysts predict that Check Point Software Technologies Ltd. will post 7.85 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.