Acadian Asset Management LLC Acquires 391,983 Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Acadian Asset Management LLC lifted its holdings in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 10.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 4,108,685 shares of the technology company’s stock after purchasing an additional 391,983 shares during the period. Check Point Software Technologies accounts for about 2.1% of Acadian Asset Management LLC’s portfolio, making the stock its 6th largest position. Acadian Asset Management LLC owned 3.64% of Check Point Software Technologies worth $677,869,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Check Point Software Technologies during the 2nd quarter worth $30,000. Concord Wealth Partners bought a new position in Check Point Software Technologies in the first quarter valued at about $31,000. Richardson Financial Services Inc. acquired a new stake in Check Point Software Technologies in the fourth quarter worth about $33,000. Annis Gardner Whiting Capital Advisors LLC bought a new stake in Check Point Software Technologies during the 4th quarter worth about $92,000. Finally, Transcendent Capital Group LLC acquired a new stake in shares of Check Point Software Technologies during the 1st quarter worth approximately $107,000. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Check Point Software Technologies Trading Up 0.1 %

Check Point Software Technologies stock opened at $188.42 on Friday. Check Point Software Technologies Ltd. has a 1-year low of $126.57 and a 1-year high of $193.27. The company has a fifty day simple moving average of $180.04 and a 200 day simple moving average of $165.54. The company has a market cap of $21.27 billion, a P/E ratio of 26.17, a price-to-earnings-growth ratio of 3.00 and a beta of 0.62.

Check Point Software Technologies (NASDAQ:CHKP) last announced its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.17 earnings per share for the quarter, beating the consensus estimate of $2.16 by $0.01. Check Point Software Technologies had a return on equity of 31.59% and a net margin of 33.61%. The company had revenue of $627.40 million during the quarter, compared to analysts’ expectations of $623.19 million. During the same quarter last year, the company earned $1.74 EPS. Check Point Software Technologies’s revenue for the quarter was up 6.6% compared to the same quarter last year. On average, equities research analysts forecast that Check Point Software Technologies Ltd. will post 7.83 EPS for the current year.

Analyst Upgrades and Downgrades

CHKP has been the topic of a number of recent research reports. Truist Financial reaffirmed a “buy” rating and issued a $200.00 price objective (up from $175.00) on shares of Check Point Software Technologies in a research note on Thursday, July 25th. Scotiabank raised their price target on Check Point Software Technologies from $180.00 to $200.00 and gave the stock a “sector outperform” rating in a research report on Thursday, July 25th. Susquehanna lifted their price objective on Check Point Software Technologies from $200.00 to $215.00 and gave the stock a “positive” rating in a research note on Thursday, July 25th. Needham & Company LLC reissued a “hold” rating on shares of Check Point Software Technologies in a research note on Thursday, July 25th. Finally, Barclays raised their target price on Check Point Software Technologies from $175.00 to $192.00 and gave the stock an “equal weight” rating in a report on Thursday, July 25th. Fifteen analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $183.68.

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.