DekaBank Deutsche Girozentrale Boosts Stock Holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

DekaBank Deutsche Girozentrale boosted its position in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 2.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 582,352 shares of the technology company’s stock after purchasing an additional 13,854 shares during the period. DekaBank Deutsche Girozentrale owned about 0.52% of Check Point Software Technologies worth $94,654,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Achmea Investment Management B.V. boosted its stake in shares of Check Point Software Technologies by 60.9% during the 2nd quarter. Achmea Investment Management B.V. now owns 94,076 shares of the technology company’s stock worth $15,522,000 after acquiring an additional 35,603 shares in the last quarter. American Century Companies Inc. lifted its position in Check Point Software Technologies by 11.9% during the 2nd quarter. American Century Companies Inc. now owns 18,110 shares of the technology company’s stock worth $2,988,000 after acquiring an additional 1,920 shares during the period. Steigerwald Gordon & Koch Inc. increased its holdings in shares of Check Point Software Technologies by 3.1% in the 2nd quarter. Steigerwald Gordon & Koch Inc. now owns 120,010 shares of the technology company’s stock valued at $19,802,000 after purchasing an additional 3,658 shares in the last quarter. Doheny Asset Management CA lifted its stake in Check Point Software Technologies by 337.7% in the 2nd quarter. Doheny Asset Management CA now owns 15,683 shares of the technology company’s stock valued at $2,588,000 after buying an additional 12,100 shares in the last quarter. Finally, Choreo LLC acquired a new stake in shares of Check Point Software Technologies during the 2nd quarter worth about $277,000. Institutional investors own 87.62% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on CHKP shares. BMO Capital Markets increased their price target on Check Point Software Technologies from $180.00 to $200.00 and gave the company a “market perform” rating in a report on Thursday, July 25th. Jefferies Financial Group increased their target price on shares of Check Point Software Technologies from $185.00 to $210.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Truist Financial reiterated a “buy” rating and set a $200.00 price objective (up from $175.00) on shares of Check Point Software Technologies in a research report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft boosted their price objective on Check Point Software Technologies from $175.00 to $185.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Finally, Robert W. Baird lifted their price target on Check Point Software Technologies from $168.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, July 25th. Fifteen investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $183.68.

Check Point Software Technologies Trading Up 2.4 %

Check Point Software Technologies stock opened at $195.17 on Friday. The company has a fifty day simple moving average of $182.33 and a 200 day simple moving average of $166.64. The company has a market cap of $22.04 billion, a P/E ratio of 27.11, a price-to-earnings-growth ratio of 2.96 and a beta of 0.62. Check Point Software Technologies Ltd. has a 1-year low of $126.57 and a 1-year high of $195.29.

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

Check Point Software Technologies Company 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.