Plato Investment Management Ltd Makes New Investment in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Plato Investment Management Ltd purchased a new position in Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 8,602 shares of the technology company's stock, valued at approximately $1,657,000.

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

Wall Street Analyst Weigh In

Several brokerages have commented on CHKP. Jefferies Financial Group boosted their target price on shares of Check Point Software Technologies from $210.00 to $225.00 and gave the company a "buy" rating in a report on Tuesday, September 24th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Check Point Software Technologies from $175.00 to $185.00 and gave the stock a "hold" rating in a report on Thursday, July 25th. Royal Bank of Canada reiterated a "sector perform" rating and set a $187.00 target price on shares of Check Point Software Technologies in a report on Wednesday, October 30th. Barclays cut their price target on Check Point Software Technologies from $210.00 to $200.00 and set an "equal weight" rating on the stock in a research note on Tuesday, October 29th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Check Point Software Technologies in a report on Wednesday, October 30th. Fifteen analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Check Point Software Technologies currently has an average rating of "Hold" and an average price target of $197.74.

Check Point Software Technologies Price Performance

Shares of NASDAQ:CHKP traded down $3.30 during mid-day trading on Friday, reaching $174.25. 598,681 shares of the company traded hands, compared to its average volume of 697,770. The company's 50 day moving average price is $191.81 and its 200-day moving average price is $175.88. The firm has a market cap of $19.16 billion, a PE ratio of 23.89, a PEG ratio of 3.02 and a beta of 0.63. Check Point Software Technologies Ltd. has a 52 week low of $139.55 and a 52 week high of $210.70.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The technology company reported $2.25 EPS for the quarter, meeting the consensus estimate of $2.25. The firm had revenue of $635.10 million for the quarter, compared to the consensus estimate of $634.96 million. Check Point Software Technologies had a net margin of 33.17% and a return on equity of 31.84%. The company's revenue was up 6.5% on a year-over-year basis. During the same period last year, the firm earned $1.80 EPS. On average, research analysts predict that Check Point Software Technologies Ltd. will post 7.87 earnings per share for the current fiscal year.

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.