Check Point Software Technologies (NASDAQ:CHKP) Sets New 12-Month High at $170.21

Check Point Software Technologies Ltd. (NASDAQ:CHKP) shares hit a new 52-week high during trading on Wednesday . The stock traded as high as $170.21 and last traded at $169.88, with a volume of 65767 shares traded. The stock had previously closed at $167.73.

Analyst Upgrades and Downgrades

CHKP has been the topic of a number of research reports. Stifel Nicolaus decreased their price objective on Check Point Software Technologies from $170.00 to $165.00 and set a “hold” rating on the stock in a report on Friday, April 26th. Needham & Company LLC reissued a “hold” rating on shares of Check Point Software Technologies in a research note on Friday, April 26th. Wedbush reaffirmed an “outperform” rating and set a $185.00 price objective on shares of Check Point Software Technologies in a research note on Friday, April 26th. Barclays raised their target price on shares of Check Point Software Technologies from $170.00 to $175.00 and gave the stock an “equal weight” rating in a research note on Friday, April 26th. Finally, Mizuho restated a “neutral” rating and issued a $160.00 price target on shares of Check Point Software Technologies in a research report on Wednesday, March 27th. Thirteen investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, Check Point Software Technologies currently has a consensus rating of “Hold” and an average price target of $169.18.

Check Point Software Technologies Stock Performance

The company has a market capitalization of $19.06 billion, a price-to-earnings ratio of 23.44, a P/E/G ratio of 2.60 and a beta of 0.62. The firm has a 50-day simple moving average of $154.27 and a two-hundred day simple moving average of $157.58.

Check Point Software Technologies (NASDAQ:CHKP) last announced its quarterly earnings data on Thursday, April 25th. The technology company reported $1.72 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.72. The firm had revenue of $598.80 million during the quarter, compared to analysts’ expectations of $595.28 million. Check Point Software Technologies had a net margin of 34.33% and a return on equity of 31.42%. As a group, equities analysts forecast that Check Point Software Technologies Ltd. will post 7.79 EPS for the current fiscal year.

Institutional Trading of Check Point Software Technologies

Several hedge funds have recently modified their holdings of the stock. Cape Investment Advisory Inc. grew its stake in Check Point Software Technologies by 2.6% during the 1st quarter. Cape Investment Advisory Inc. now owns 6,524 shares of the technology company’s stock worth $1,070,000 after purchasing an additional 166 shares in the last quarter. Clean Yield Group grew its position in shares of Check Point Software Technologies by 2.9% during the first quarter. Clean Yield Group now owns 21,835 shares of the technology company’s stock worth $3,581,000 after buying an additional 614 shares in the last quarter. Boston Partners increased its stake in shares of Check Point Software Technologies by 13.1% during the first quarter. Boston Partners now owns 3,623,923 shares of the technology company’s stock worth $594,169,000 after buying an additional 419,404 shares during the period. Cetera Advisors LLC increased its stake in shares of Check Point Software Technologies by 53.0% during the first quarter. Cetera Advisors LLC now owns 4,299 shares of the technology company’s stock worth $705,000 after buying an additional 1,490 shares during the period. Finally, Cetera Investment Advisers lifted its stake in Check Point Software Technologies by 1,020.7% in the first quarter. Cetera Investment Advisers now owns 56,551 shares of the technology company’s stock worth $9,275,000 after acquiring an additional 51,505 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

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.