CWA Asset Management Group LLC Increases Stock Holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

CWA Asset Management Group LLC raised its stake in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 108.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,157 shares of the technology company’s stock after purchasing an additional 12,037 shares during the quarter. CWA Asset Management Group LLC’s holdings in Check Point Software Technologies were worth $5,278,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Check Point Software Technologies during the fourth quarter worth $428,820,000. Causeway Capital Management LLC lifted its stake in Check Point Software Technologies by 33.8% in the 4th quarter. Causeway Capital Management LLC now owns 1,929,604 shares of the technology company’s stock valued at $360,257,000 after buying an additional 487,823 shares in the last quarter. First Trust Advisors LP lifted 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 acquiring an additional 269,925 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in Check Point Software Technologies by 10.6% during the 4th quarter. Ameriprise Financial Inc. now owns 1,429,724 shares of the technology company’s stock worth $266,930,000 after purchasing an additional 136,699 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in Check Point Software Technologies by 3.3% during the fourth quarter. Geode Capital Management LLC now owns 849,546 shares of the technology company’s stock worth $158,035,000 after acquiring an additional 27,267 shares during the last quarter. Hedge funds and other institutional investors own 98.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on CHKP shares. 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 note on Thursday, February 27th. Wells Fargo & Company dropped their target price on shares of Check Point Software Technologies from $280.00 to $265.00 and set an “overweight” rating for the company in a report on Thursday, April 24th. Scotiabank lowered their price objective on shares of Check Point Software Technologies from $250.00 to $240.00 and set a “sector outperform” rating for the company in a research note on Thursday, April 24th. Compass Point set a $260.00 target price on Check Point Software Technologies in a report on Thursday, March 27th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and issued a $215.00 price target on shares of Check Point Software Technologies in a research note on Thursday, February 27th. Sixteen research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Check Point Software Technologies presently has a consensus rating of “Hold” and a consensus target price of $232.44.

Check Point Software Technologies Trading Down 0.9%

Check Point Software Technologies stock opened at $219.23 on Wednesday. Check Point Software Technologies Ltd. has a twelve month low of $153.88 and a twelve month high of $234.36. The stock has a 50 day moving average of $220.12 and a two-hundred day moving average of $210.95. The stock has a market capitalization of $24.11 billion, a price-to-earnings ratio of 28.92, a PEG ratio of 3.16 and a beta of 0.66.

Check Point Software Technologies (NASDAQ:CHKP) last announced its quarterly earnings data on Wednesday, April 23rd. The technology company reported $2.21 EPS for the quarter, beating analysts’ consensus estimates of $2.19 by $0.02. Check Point Software Technologies had a net margin of 32.75% and a return on equity of 32.88%. The firm had revenue of $637.80 million during the quarter, compared to the consensus estimate of $635.80 million. During the same quarter last year, the firm earned $2.04 earnings per share. The firm’s revenue was up 6.5% compared to the same quarter last year. Equities analysts predict that Check Point Software Technologies Ltd. will post 8.61 earnings per share for the current year.

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.