Massachusetts Financial Services Co. MA Buys 114,938 Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Massachusetts Financial Services Co. MA lifted its position in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 2.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,527,700 shares of the technology company’s stock after purchasing an additional 114,938 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Check Point Software Technologies were worth $912,070,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Private Advisor Group LLC raised its holdings in shares of Check Point Software Technologies by 15.1% during the 4th quarter. Private Advisor Group LLC now owns 1,970 shares of the technology company’s stock worth $301,000 after acquiring an additional 258 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Check Point Software Technologies by 5.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 141,799 shares of the technology company’s stock worth $21,665,000 after purchasing an additional 7,417 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its stake in Check Point Software Technologies by 23.6% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 8,891 shares of the technology company’s stock valued at $1,358,000 after purchasing an additional 1,697 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Check Point Software Technologies by 69.3% in the 4th quarter. Principal Financial Group Inc. now owns 27,026 shares of the technology company’s stock worth $4,129,000 after buying an additional 11,064 shares in the last quarter. Finally, Avantax Advisory Services Inc. grew its stake in shares of Check Point Software Technologies by 6.8% in the 4th quarter. Avantax Advisory Services Inc. now owns 1,717 shares of the technology company’s stock worth $262,000 after buying an additional 109 shares in the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Check Point Software Technologies Stock Performance

Shares of CHKP opened at $195.17 on Monday. The company has a 50 day moving average price of $182.33 and a 200-day moving average price of $166.70. Check Point Software Technologies Ltd. has a fifty-two week low of $126.57 and a fifty-two week high of $195.29. The stock has a market capitalization of $22.04 billion, a PE ratio of 27.11, a PEG ratio of 2.96 and a beta of 0.62.

Check Point Software Technologies (NASDAQ:CHKP) last posted its earnings results on Wednesday, July 24th. The technology company reported $2.17 earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $623.19 million. During the same quarter in the prior year, the business earned $1.74 earnings per share. Check Point Software Technologies’s revenue was up 6.6% on a year-over-year basis. 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 subject of a number of analyst reports. Truist Financial reaffirmed a “buy” rating and issued a $200.00 price target (up previously from $175.00) on shares of Check Point Software Technologies in a report on Thursday, July 25th. BMO Capital Markets lifted their target price on Check Point Software Technologies from $180.00 to $200.00 and gave the stock a “market perform” rating in a report on Thursday, July 25th. Barclays increased their price target on Check Point Software Technologies from $175.00 to $192.00 and gave the company an “equal weight” rating in a report on Thursday, July 25th. Susquehanna lifted their price objective on shares of 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. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Check Point Software Technologies from $175.00 to $180.00 and gave the company a “neutral” rating in a research report on Thursday, July 25th. Fifteen research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Check Point Software Technologies currently has an average rating of “Hold” and a consensus price target of $183.68.

Check Point Software Technologies 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.