Mitsubishi UFJ Asset Management Co. Ltd. Increases Stock Holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 11.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,196 shares of the technology company's stock after purchasing an additional 6,977 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.06% of Check Point Software Technologies worth $12,189,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Cerity Partners LLC raised its holdings in Check Point Software Technologies by 34.2% in the 3rd quarter. Cerity Partners LLC now owns 5,304 shares of the technology company's stock worth $1,023,000 after purchasing an additional 1,353 shares during the period. FMR LLC increased its position in shares of Check Point Software Technologies by 28.7% in the third quarter. FMR LLC now owns 1,133,175 shares of the technology company's stock valued at $218,488,000 after buying an additional 252,581 shares in the last quarter. D.A. Davidson & CO. raised its stake in shares of Check Point Software Technologies by 4.4% during the 3rd quarter. D.A. Davidson & CO. now owns 2,625 shares of the technology company's stock worth $506,000 after buying an additional 111 shares during the period. Glenmede Trust Co. NA lifted its position in shares of Check Point Software Technologies by 3.6% during the 3rd quarter. Glenmede Trust Co. NA now owns 3,725 shares of the technology company's stock valued at $718,000 after buying an additional 130 shares in the last quarter. Finally, Verition Fund Management LLC purchased a new position in shares of Check Point Software Technologies during the 3rd quarter valued at approximately $493,000. 98.51% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CHKP. Scotiabank upped their price objective on shares of Check Point Software Technologies from $215.00 to $250.00 and gave the stock a "sector outperform" rating in a research report on Friday, January 31st. BMO Capital Markets upgraded shares of Check Point Software Technologies from a "market perform" rating to an "outperform" rating and upped their price target for the stock from $245.00 to $275.00 in a research report on Friday, March 28th. Arete Research upgraded Check Point Software Technologies to a "hold" rating in a report on Monday, February 24th. Stifel Nicolaus increased their target price on Check Point Software Technologies from $190.00 to $220.00 and gave the company a "hold" rating in a report on Friday, January 31st. Finally, Citigroup lifted their price target on Check Point Software Technologies from $185.00 to $190.00 and gave the stock a "neutral" rating in a research note on Friday, January 17th. Sixteen research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $236.13.

Check Point Software Technologies Stock Performance

Shares of Check Point Software Technologies stock traded down $8.50 on Friday, reaching $215.52. The company had a trading volume of 1,263,663 shares, compared to its average volume of 745,459. The firm's 50 day moving average price is $220.78 and its two-hundred day moving average price is $199.70. Check Point Software Technologies Ltd. has a 52-week low of $145.75 and a 52-week high of $234.36. The firm has a market cap of $23.70 billion, a PE ratio of 28.85, a PEG ratio of 3.41 and a beta of 0.62.

About Check Point Software Technologies

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.