Fmr LLC Acquires 252,581 Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP)

FMR LLC raised its stake in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 28.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,133,175 shares of the technology company's stock after buying an additional 252,581 shares during the period. FMR LLC owned about 1.03% of Check Point Software Technologies worth $218,488,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Bleakley Financial Group LLC increased its stake in shares of Check Point Software Technologies by 3.3% during the 3rd quarter. Bleakley Financial Group LLC now owns 1,797 shares of the technology company's stock worth $346,000 after purchasing an additional 57 shares during the last quarter. Brighton Jones LLC lifted its position in shares of Check Point Software Technologies by 5.2% in the third quarter. Brighton Jones LLC now owns 1,337 shares of the technology company's stock worth $258,000 after buying an additional 66 shares during the last quarter. Patriot Financial Group Insurance Agency LLC boosted its stake in shares of Check Point Software Technologies by 1.2% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 5,402 shares of the technology company's stock worth $1,042,000 after acquiring an additional 66 shares in the last quarter. HF Advisory Group LLC raised its stake in shares of Check Point Software Technologies by 1.2% in the 3rd quarter. HF Advisory Group LLC now owns 6,061 shares of the technology company's stock valued at $1,169,000 after acquiring an additional 73 shares in the last quarter. Finally, Heritage Family Offices LLP boosted its position in Check Point Software Technologies by 1.6% during the third quarter. Heritage Family Offices LLP now owns 4,884 shares of the technology company's stock worth $942,000 after purchasing an additional 77 shares during the period. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Check Point Software Technologies Stock Performance

NASDAQ CHKP traded up $4.53 during trading hours on Tuesday, reaching $186.71. 203,742 shares of the company's stock were exchanged, compared to its average volume of 690,847. The company has a market capitalization of $20.53 billion, a price-to-earnings ratio of 24.89, a price-to-earnings-growth ratio of 3.11 and a beta of 0.63. The company's 50-day moving average is $188.97 and its two-hundred day moving average is $178.64. Check Point Software Technologies Ltd. has a one year low of $143.28 and a one year high of $210.70.

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

Analyst Ratings Changes

A number of research firms have recently commented on CHKP. Wedbush lifted their price objective on Check Point Software Technologies from $200.00 to $230.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 9th. Bank of America downgraded shares of Check Point Software Technologies from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $205.00 to $195.00 in a research note on Wednesday, October 30th. Truist Financial increased their price target on shares of Check Point Software Technologies from $200.00 to $220.00 and gave the company a "buy" rating in a report on Wednesday, October 23rd. Robert W. Baird dropped their price objective on shares of Check Point Software Technologies from $210.00 to $205.00 and set a "neutral" rating on the stock in a report on Wednesday, October 30th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Check Point Software Technologies in a report on Wednesday, October 30th. Fifteen investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $197.74.

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.