Nkcfo LLC Invests $1.70 Million in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Nkcfo LLC purchased a new stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP) during the 4th quarter, Holdings Channel.com reports. The fund purchased 11,125 shares of the technology company’s stock, valued at approximately $1,700,000. Check Point Software Technologies comprises 0.9% of Nkcfo LLC’s investment portfolio, making the stock its 23rd largest holding.

Several other hedge funds have also recently modified their holdings of the stock. Ariel Investments LLC raised its position in Check Point Software Technologies by 121.2% in the third quarter. Ariel Investments LLC now owns 1,083,364 shares of the technology company’s stock worth $144,391,000 after acquiring an additional 593,623 shares in the last quarter. Morningstar Investment Services LLC acquired a new stake in Check Point Software Technologies in the third quarter valued at $65,522,000. LSV Asset Management lifted its holdings in shares of Check Point Software Technologies by 1,535.7% in the third quarter. LSV Asset Management now owns 413,835 shares of the technology company’s stock valued at $55,156,000 after purchasing an additional 388,535 shares in the last quarter. Boston Trust Walden Corp raised its holdings in shares of Check Point Software Technologies by 248.8% in the fourth quarter. Boston Trust Walden Corp now owns 306,201 shares of the technology company’s stock worth $46,784,000 after acquiring an additional 218,403 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its holdings in shares of Check Point Software Technologies by 107.2% during the third quarter. Envestnet Asset Management Inc. now owns 361,973 shares of the technology company’s stock worth $48,244,000 after buying an additional 187,314 shares in the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.

Check Point Software Technologies Stock Up 1.2 %

Check Point Software Technologies stock traded up $1.73 during midday trading on Friday, hitting $151.20. The company’s stock had a trading volume of 523,713 shares, compared to its average volume of 716,676. Check Point Software Technologies Ltd. has a 12 month low of $118.21 and a 12 month high of $168.82. The company has a market capitalization of $18.26 billion, a PE ratio of 21.00, a price-to-earnings-growth ratio of 2.46 and a beta of 0.64. The stock’s 50-day moving average price is $160.51 and its 200-day moving average price is $153.64.

Check Point Software Technologies (NASDAQ:CHKP) last posted its quarterly earnings results on Thursday, April 25th. The technology company reported $1.72 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.72. The company had revenue of $598.80 million for the quarter, compared to analysts’ expectations of $595.28 million. Check Point Software Technologies had a return on equity of 31.42% and a net margin of 34.33%. As a group, equities analysts anticipate that Check Point Software Technologies Ltd. will post 7.79 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on CHKP shares. Citigroup increased their price objective 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. UBS Group lifted their price objective on shares of Check Point Software Technologies from $140.00 to $170.00 and gave the company a “neutral” rating in a research note on Wednesday, January 10th. TD Cowen upped their target price on shares of Check Point Software Technologies from $180.00 to $205.00 and gave the company an “outperform” rating in a research note on Monday, March 18th. Susquehanna lifted 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 research note on Wednesday, February 7th. Finally, William Blair upgraded shares of Check Point Software Technologies from a “market perform” rating to an “outperform” rating in a report on Wednesday, January 31st. Twelve equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, Check Point Software Technologies currently has an average rating of “Hold” and an average price target of $169.18.

Check Point Software Technologies 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.