Clean Yield Group Raises Position in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Clean Yield Group boosted its stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 3.9% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 21,221 shares of the technology company’s stock after buying an additional 792 shares during the quarter. Check Point Software Technologies comprises approximately 1.4% of Clean Yield Group’s portfolio, making the stock its 24th biggest holding. Clean Yield Group’s holdings in Check Point Software Technologies were worth $3,242,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CHKP. BlackRock Inc. raised its holdings in Check Point Software Technologies by 2.1% in the 1st quarter. BlackRock Inc. now owns 5,951,005 shares of the technology company’s stock valued at $773,631,000 after acquiring an additional 121,686 shares during the last quarter. Acadian Asset Management LLC raised its holdings in Check Point Software Technologies by 1.6% in the 3rd quarter. Acadian Asset Management LLC now owns 4,348,630 shares of the technology company’s stock valued at $579,517,000 after acquiring an additional 69,441 shares during the last quarter. Nordea Investment Management AB raised its holdings in Check Point Software Technologies by 0.3% in the 3rd quarter. Nordea Investment Management AB now owns 2,727,583 shares of the technology company’s stock valued at $365,851,000 after acquiring an additional 7,493 shares during the last quarter. Legal & General Group Plc raised its holdings in Check Point Software Technologies by 9.7% in the 4th quarter. Legal & General Group Plc now owns 2,236,028 shares of the technology company’s stock valued at $282,097,000 after acquiring an additional 197,179 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its holdings in Check Point Software Technologies by 138.9% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,505,958 shares of the technology company’s stock valued at $195,775,000 after acquiring an additional 875,580 shares during the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

Check Point Software Technologies Stock Performance

Check Point Software Technologies stock opened at $164.39 on Friday. Check Point Software Technologies Ltd. has a fifty-two week low of $117.18 and a fifty-two week high of $168.82. The firm has a 50 day moving average price of $162.25 and a 200 day moving average price of $150.14. The company has a market capitalization of $19.85 billion, a PE ratio of 23.09, a price-to-earnings-growth ratio of 2.64 and a beta of 0.61.

Check Point Software Technologies (NASDAQ:CHKP) last issued 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. Check Point Software Technologies had a net margin of 34.80% and a return on equity of 30.81%. The company had revenue of $663.50 million during the quarter, compared to analysts’ expectations of $662.09 million. During the same quarter last year, the company posted $2.23 EPS. The firm’s revenue was up 3.9% compared to the same quarter last year. As a group, equities research analysts forecast that Check Point Software Technologies Ltd. will post 7.85 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have commented on the stock. TD Cowen increased their price objective on shares of Check Point Software Technologies from $180.00 to $205.00 and gave the company an “outperform” rating in a report on Monday, March 18th. Raymond James upgraded shares of Check Point Software Technologies from a “market perform” rating to an “outperform” rating in a report on Monday, December 18th. Truist Financial raised 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. Citigroup raised 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. Finally, Royal Bank of Canada raised their price target on shares of Check Point Software Technologies from $159.00 to $165.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 7th. Thirteen equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $159.70.

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.