Dorsey Wright & Associates Purchases New Stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Dorsey Wright & Associates acquired a new stake in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 11,608 shares of the technology company's stock, valued at approximately $2,167,000.

A number of other institutional investors also recently made changes to their positions in the business. FSA Wealth Management LLC bought a new stake in Check Point Software Technologies in the third quarter valued at about $27,000. GAMMA Investing LLC lifted its stake in Check Point Software Technologies by 53.1% during the fourth quarter. GAMMA Investing LLC now owns 173 shares of the technology company's stock worth $32,000 after purchasing an additional 60 shares during the last quarter. Golden State Wealth Management LLC acquired a new position in Check Point Software Technologies in the fourth quarter worth $35,000. Strategic Financial Concepts LLC bought a new stake in Check Point Software Technologies during the fourth quarter valued at $35,000. Finally, Exchange Traded Concepts LLC raised its holdings in shares of Check Point Software Technologies by 142.7% during the fourth quarter. Exchange Traded Concepts LLC now owns 233 shares of the technology company's stock worth $44,000 after purchasing an additional 137 shares during the period. 98.51% of the stock is owned by institutional investors and hedge funds.

Check Point Software Technologies Price Performance

Shares of Check Point Software Technologies stock traded down $0.41 during trading on Thursday, hitting $227.60. 523,534 shares of the company were exchanged, compared to its average volume of 737,073. Check Point Software Technologies Ltd. has a 1-year low of $145.75 and a 1-year high of $234.36. The firm has a market capitalization of $25.03 billion, a P/E ratio of 30.47, a price-to-earnings-growth ratio of 3.41 and a beta of 0.62. The firm's fifty day moving average price is $219.81 and its 200 day moving average price is $199.31.

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Analysts Set New Price Targets

A number of equities research analysts have issued reports on CHKP shares. Scotiabank raised their target price on Check Point Software Technologies from $215.00 to $250.00 and gave the company a "sector outperform" rating in a research note on Friday, January 31st. Needham & Company LLC reissued a "hold" rating on shares of Check Point Software Technologies in a report on Thursday, February 27th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $215.00 target price on shares of Check Point Software Technologies in a report on Thursday, February 27th. Cantor Fitzgerald restated a "neutral" rating and issued a $200.00 price target on shares of Check Point Software Technologies in a research report on Monday, January 27th. Finally, Arete Research upgraded Check Point Software Technologies to a "hold" rating in a research report on Monday, February 24th. Sixteen equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $236.13.

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.