Bank of Montreal Can Raises Position in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Bank of Montreal Can boosted its position in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 32.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 85,639 shares of the technology company's stock after buying an additional 20,866 shares during the period. Bank of Montreal Can owned 0.08% of Check Point Software Technologies worth $16,532,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Acadian Asset Management LLC raised its position in Check Point Software Technologies by 10.5% in the 2nd quarter. Acadian Asset Management LLC now owns 4,108,685 shares of the technology company's stock valued at $677,869,000 after purchasing an additional 391,983 shares during the last quarter. Marshall Wace LLP purchased a new stake in shares of Check Point Software Technologies in the second quarter valued at about $47,244,000. Meitav Investment House Ltd. increased its position in Check Point Software Technologies by 1,295.8% in the 2nd quarter. Meitav Investment House Ltd. now owns 209,612 shares of the technology company's stock valued at $34,557,000 after acquiring an additional 194,595 shares during the period. Robeco Institutional Asset Management B.V. raised its stake in 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, Massachusetts Financial Services Co. MA raised its stake in Check Point Software Technologies by 2.1% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,527,700 shares of the technology company's stock valued at $912,070,000 after acquiring an additional 114,938 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Barclays dropped their target price on 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. BMO Capital Markets upped their price objective on shares of Check Point Software Technologies from $200.00 to $238.00 and gave the stock a "market perform" rating in a research report on Friday, October 25th. Needham & Company LLC restated a "hold" rating on shares of Check Point Software Technologies in a research note on Wednesday, October 30th. Robert W. Baird dropped their price target on shares of Check Point Software Technologies from $210.00 to $205.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. increased their price target on shares of Check Point Software Technologies from $180.00 to $210.00 and gave the stock a "neutral" rating in a report on Monday, October 28th. Fifteen investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Check Point Software Technologies has an average rating of "Hold" and a consensus price target of $197.74.

Check Point Software Technologies Stock Up 0.2 %

Shares of CHKP traded up $0.45 during mid-day trading on Friday, reaching $182.00. 246,764 shares of the company's stock were exchanged, compared to its average volume of 673,924. Check Point Software Technologies Ltd. has a 52-week low of $143.28 and a 52-week high of $210.70. The company has a 50-day simple moving average of $189.23 and a two-hundred day simple moving average of $178.42. The company has a market cap of $20.02 billion, a price-to-earnings ratio of 24.86, a PEG ratio of 3.11 and a beta of 0.63.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The technology company reported $2.25 earnings per share 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 analysts' expectations of $634.96 million. During the same period in the previous year, the firm posted $1.80 earnings per share. The business's revenue for the quarter was up 6.5% compared to the same quarter last year. As a group, equities research analysts predict that Check Point Software Technologies Ltd. will post 7.86 EPS for the current fiscal 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.