Check Point Software Technologies Ltd. (NASDAQ:CHKP) Shares Acquired by KBC Group NV

KBC Group NV grew its stake in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 41.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 122,777 shares of the technology company's stock after acquiring an additional 36,042 shares during the quarter. KBC Group NV owned about 0.11% of Check Point Software Technologies worth $23,673,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Check Point Software Technologies in the 2nd quarter valued at $30,000. Kathleen S. Wright Associates Inc. acquired a new position in shares of Check Point Software Technologies in the third quarter valued at about $33,000. Concord Wealth Partners purchased a new position in shares of Check Point Software Technologies in the third quarter worth about $37,000. Arrow Financial Corp boosted its position in Check Point Software Technologies by 62.5% in the third quarter. Arrow Financial Corp now owns 260 shares of the technology company's stock valued at $50,000 after buying an additional 100 shares during the last quarter. Finally, FSC Wealth Advisors LLC acquired a new position in Check Point Software Technologies in the 3rd quarter worth approximately $60,000. 87.62% of the stock is owned by hedge funds and other institutional investors.

Check Point Software Technologies Trading Down 1.9 %

NASDAQ CHKP traded down $3.30 on Friday, reaching $174.25. 598,690 shares of the company were exchanged, compared to its average volume of 697,770. Check Point Software Technologies Ltd. has a fifty-two week low of $139.55 and a fifty-two week high of $210.70. The stock has a market capitalization of $19.16 billion, a P/E ratio of 23.80, a price-to-earnings-growth ratio of 3.02 and a beta of 0.63. The business's fifty day moving average price is $191.52 and its 200 day moving average price is $176.05.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last announced its earnings results on Tuesday, October 29th. The technology company reported $2.25 earnings per share for the quarter, hitting the consensus estimate of $2.25. Check Point Software Technologies had a net margin of 33.17% and a return on equity of 31.84%. The company had revenue of $635.10 million during the quarter, compared to analyst estimates of $634.96 million. During the same quarter last year, the firm posted $1.80 earnings per share. Check Point Software Technologies's revenue was up 6.5% compared to the same quarter last year. Equities research analysts forecast that Check Point Software Technologies Ltd. will post 7.87 earnings per share for the current year.

Wall Street Analyst Weigh In

CHKP has been the subject of several research reports. Wedbush lifted their price objective on shares of Check Point Software Technologies from $200.00 to $230.00 and gave the company an "outperform" rating in a research note on Wednesday, October 9th. Evercore ISI upped their price target on shares of Check Point Software Technologies from $180.00 to $185.00 and gave the company an "in-line" rating in a report on Wednesday, October 30th. Royal Bank of Canada reiterated a "sector perform" rating and set a $187.00 price objective on shares of Check Point Software Technologies in a research note on Wednesday, October 30th. Truist Financial upped their target price on Check Point Software Technologies from $200.00 to $220.00 and gave the stock a "buy" rating in a research note on Wednesday, October 23rd. Finally, BMO Capital Markets lifted their price target on Check Point Software Technologies from $200.00 to $238.00 and gave the company a "market perform" rating in a research report on Friday, October 25th. Fifteen analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $197.74.

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.