Plato Investment Management Ltd Purchases New Holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Plato Investment Management Ltd purchased a new stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 8,602 shares of the technology company’s stock, valued at approximately $1,657,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Massachusetts Financial Services Co. MA increased its holdings in shares of Check Point Software Technologies by 2.1% in the second quarter. Massachusetts Financial Services Co. MA now owns 5,527,700 shares of the technology company’s stock valued at $912,070,000 after purchasing an additional 114,938 shares in the last quarter. Acadian Asset Management LLC grew its holdings in Check Point Software Technologies by 10.5% during the 2nd quarter. Acadian Asset Management LLC now owns 4,108,685 shares of the technology company’s stock worth $677,869,000 after acquiring an additional 391,983 shares during the period. Boston Partners grew its holdings in Check Point Software Technologies by 13.1% during the 1st quarter. Boston Partners now owns 3,623,923 shares of the technology company’s stock worth $594,169,000 after acquiring an additional 419,404 shares during the period. Ninety One UK Ltd grew its holdings in Check Point Software Technologies by 1.1% during the 2nd quarter. Ninety One UK Ltd now owns 3,608,785 shares of the technology company’s stock worth $595,450,000 after acquiring an additional 39,092 shares during the period. Finally, Robeco Institutional Asset Management B.V. grew its holdings in Check Point Software Technologies by 10.7% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,836,799 shares of the technology company’s stock worth $354,153,000 after acquiring an additional 177,104 shares during the period. Institutional investors and hedge funds own 87.62% of the company’s stock.

Check Point Software Technologies Trading Up 0.2 %

CHKP opened at $177.55 on Friday. The stock has a market capitalization of $19.53 billion, a P/E ratio of 24.26, a P/E/G ratio of 3.03 and a beta of 0.63. Check Point Software Technologies Ltd. has a 12 month low of $139.55 and a 12 month high of $210.70. The firm’s fifty day simple moving average is $192.02 and its 200 day simple moving average is $175.87.

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

Wall Street Analysts Forecast Growth

A number of analysts have commented on CHKP shares. Wedbush lifted their target price on shares of Check Point Software Technologies from $200.00 to $230.00 and gave the stock an “outperform” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. lifted their target price on shares of Check Point Software Technologies from $180.00 to $210.00 and gave the stock a “neutral” rating in a report on Monday, October 28th. Needham & Company LLC reaffirmed a “hold” rating on shares of Check Point Software Technologies in a report on Wednesday, October 30th. BMO Capital Markets lifted their target price on shares of Check Point Software Technologies from $200.00 to $238.00 and gave the stock a “market perform” rating in a report on Friday, October 25th. Finally, Mizuho boosted their price target on shares of Check Point Software Technologies from $178.00 to $205.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Fifteen analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Check Point Software Technologies presently has an average rating of “Hold” and an average target price of $197.74.

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.