Assenagon Asset Management S.A. Boosts Stock Position in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Assenagon Asset Management S.A. increased its position in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 184.4% during the 1st quarter, Holdings Channel.com reports. The fund owned 57,690 shares of the technology company’s stock after acquiring an additional 37,407 shares during the period. Assenagon Asset Management S.A.’s holdings in Check Point Software Technologies were worth $13,149,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Nemes Rush Group LLC purchased a new stake in Check Point Software Technologies during the fourth quarter worth about $25,000. Capital A Wealth Management LLC purchased a new position in shares of Check Point Software Technologies in the fourth quarter valued at approximately $29,000. Quarry LP grew its holdings in shares of Check Point Software Technologies by 100.0% in the fourth quarter. Quarry LP now owns 206 shares of the technology company’s stock valued at $38,000 after purchasing an additional 103 shares in the last quarter. Menard Financial Group LLC purchased a new stake in Check Point Software Technologies during the 4th quarter worth approximately $41,000. Finally, MassMutual Private Wealth & Trust FSB lifted its holdings in Check Point Software Technologies by 19.6% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 336 shares of the technology company’s stock worth $77,000 after buying an additional 55 shares in the last quarter. 98.51% of the stock is currently owned by hedge funds and other institutional investors.

Check Point Software Technologies Trading Down 1.8%

CHKP stock opened at $218.93 on Friday. Check Point Software Technologies Ltd. has a twelve month low of $153.88 and a twelve month high of $234.36. The company’s 50 day moving average is $219.86 and its two-hundred day moving average is $210.21. The stock has a market cap of $24.08 billion, a P/E ratio of 29.31, a PEG ratio of 3.41 and a beta of 0.66.

Check Point Software Technologies (NASDAQ:CHKP) last released its quarterly earnings data on Wednesday, April 23rd. The technology company reported $2.21 earnings per share for the quarter, topping analysts’ consensus estimates of $2.19 by $0.02. Check Point Software Technologies had a net margin of 32.97% and a return on equity of 32.40%. The company had revenue of $637.80 million for the quarter, compared to analysts’ expectations of $635.80 million. During the same quarter last year, the company earned $2.04 earnings per share. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. On average, equities research analysts predict that Check Point Software Technologies Ltd. will post 8.61 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Compass Point set a $260.00 price target on shares of Check Point Software Technologies in a research note on Thursday, March 27th. Mizuho boosted their target price on Check Point Software Technologies from $220.00 to $230.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 26th. Baird R W upgraded Check Point Software Technologies from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 27th. Scotiabank reduced their price target on Check Point Software Technologies from $250.00 to $240.00 and set a “sector outperform” rating on the stock in a research report on Thursday, April 24th. Finally, Jefferies Financial Group boosted their price objective on Check Point Software Technologies from $250.00 to $255.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Sixteen research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Check Point Software Technologies currently has an average rating of “Hold” and an average target price of $232.04.

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.