Franklin Parlapiano Turner & Welch LLC Buys New Position in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Franklin Parlapiano Turner & Welch LLC purchased a new position in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 30,480 shares of the technology company's stock, valued at approximately $5,691,000. Check Point Software Technologies makes up 1.5% of Franklin Parlapiano Turner & Welch LLC's investment portfolio, making the stock its 24th biggest position.

Other hedge funds have also recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Check Point Software Technologies by 73.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,094,887 shares of the technology company's stock valued at $211,105,000 after purchasing an additional 464,821 shares during the last quarter. World Investment Advisors LLC acquired a new stake in shares of Check Point Software Technologies in the 3rd quarter worth $51,922,000. FMR LLC raised its holdings in shares of Check Point Software Technologies by 28.7% during the 3rd quarter. FMR LLC now owns 1,133,175 shares of the technology company's stock worth $218,488,000 after acquiring an additional 252,581 shares during the period. Robeco Institutional Asset Management B.V. boosted its position in shares of Check Point Software Technologies by 10.7% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,836,799 shares of the technology company's stock valued at $354,153,000 after acquiring an additional 177,104 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in shares of Check Point Software Technologies by 134.2% in the third quarter. Assenagon Asset Management S.A. now owns 130,934 shares of the technology company's stock valued at $25,245,000 after purchasing an additional 75,031 shares during the period. 98.51% of the stock is owned by institutional investors and hedge funds.

Check Point Software Technologies Stock Up 7.2 %

NASDAQ CHKP traded up $14.63 on Thursday, hitting $218.53. 1,453,414 shares of the stock were exchanged, compared to its average volume of 776,493. Check Point Software Technologies Ltd. has a fifty-two week low of $145.75 and a fifty-two week high of $226.03. The company has a 50-day moving average price of $187.20 and a 200-day moving average price of $187.22. The company has a market cap of $24.03 billion, a PE ratio of 29.82, a PEG ratio of 3.05 and a beta of 0.63.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The technology company reported $2.25 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $2.25. Check Point Software Technologies had a return on equity of 31.84% and a net margin of 33.17%. The company had revenue of $635.10 million during the quarter, compared to the consensus estimate of $634.96 million. During the same period in the previous year, the business earned $1.80 EPS. Check Point Software Technologies's revenue for the quarter was up 6.5% on a year-over-year basis. As a group, equities research analysts predict that Check Point Software Technologies Ltd. will post 7.87 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have weighed in on CHKP. Barclays decreased their target price on shares of Check Point Software Technologies from $210.00 to $200.00 and set an "equal weight" rating on the stock in a report on Tuesday, October 29th. JPMorgan Chase & Co. upped their price objective on Check Point Software Technologies from $180.00 to $210.00 and gave the company a "neutral" rating in a report on Monday, October 28th. Mizuho raised their target price on Check Point Software Technologies from $178.00 to $205.00 and gave the stock a "neutral" rating in a research note on Thursday, October 17th. Citigroup upped their price target on Check Point Software Technologies from $185.00 to $190.00 and gave the company a "neutral" rating in a research note on Friday, January 17th. Finally, Jefferies Financial Group raised their price objective on Check Point Software Technologies from $220.00 to $225.00 and gave the stock a "buy" rating in a research report on Thursday, December 19th. Seventeen research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $205.10.

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.