Public Employees Retirement Association of Colorado Buys New Stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Public Employees Retirement Association of Colorado purchased a new stake in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) during the 4th quarter, HoldingsChannel reports. The firm purchased 21,720 shares of the technology company’s stock, valued at approximately $4,055,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CHKP. Norges Bank acquired a new stake in shares of Check Point Software Technologies during the 4th quarter valued at about $428,820,000. Causeway Capital Management LLC grew its holdings in Check Point Software Technologies by 33.8% in the fourth quarter. Causeway Capital Management LLC now owns 1,929,604 shares of the technology company’s stock valued at $360,257,000 after purchasing an additional 487,823 shares during the period. First Trust Advisors LP increased its position in shares of Check Point Software Technologies by 17.4% in the fourth quarter. First Trust Advisors LP now owns 1,822,787 shares of the technology company’s stock valued at $340,314,000 after buying an additional 269,925 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Check Point Software Technologies by 3.3% during the 4th quarter. Geode Capital Management LLC now owns 849,546 shares of the technology company’s stock valued at $158,035,000 after buying an additional 27,267 shares in the last quarter. Finally, Clearbridge Investments LLC purchased a new position in shares of Check Point Software Technologies during the 4th quarter valued at approximately $100,456,000. Hedge funds and other institutional investors own 98.51% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on CHKP shares. Scotiabank lowered their price objective on Check Point Software Technologies from $250.00 to $240.00 and set a “sector outperform” rating on the stock in a report on Thursday, April 24th. Piper Sandler upgraded Check Point Software Technologies from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $220.00 to $260.00 in a report on Monday, March 3rd. JPMorgan Chase & Co. raised shares of Check Point Software Technologies from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $221.00 to $255.00 in a report on Wednesday, February 26th. The Goldman Sachs Group downgraded shares of Check Point Software Technologies from a “buy” rating to a “neutral” rating and raised their price target for the stock from $204.00 to $207.00 in a research note on Thursday, January 2nd. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $215.00 price objective on shares of Check Point Software Technologies in a research note on Thursday, February 27th. Eighteen investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $232.04.

Check Point Software Technologies Stock Up 1.4 %

Shares of NASDAQ CHKP opened at $215.30 on Wednesday. Check Point Software Technologies Ltd. has a 52-week low of $145.75 and a 52-week high of $234.36. The business’s 50 day moving average is $220.17 and its two-hundred day moving average is $202.07. The firm has a market cap of $23.68 billion, a price-to-earnings ratio of 28.82, a PEG ratio of 3.41 and a beta of 0.62.

Check Point Software Technologies (NASDAQ:CHKP) last posted its quarterly earnings data on Wednesday, April 23rd. The technology company reported $2.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.19 by $0.02. Check Point Software Technologies had a return on equity of 32.40% and a net margin of 32.97%. The firm had revenue of $637.80 million for the quarter, compared to the consensus estimate of $635.80 million. During the same quarter in the previous year, the business earned $2.04 EPS. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. Analysts anticipate that Check Point Software Technologies Ltd. will post 8.61 EPS for the current fiscal year.

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.