Plato Investment Management Ltd Makes New $1.66 Million Investment in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Plato Investment Management Ltd purchased a new position in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) during the 3rd quarter, Holdings Channel reports. The fund purchased 8,602 shares of the technology company’s stock, valued at approximately $1,657,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CHKP. Swedbank AB bought a new stake in shares of Check Point Software Technologies in the 1st quarter valued at about $69,487,000. Boston Partners raised its holdings in shares of Check Point Software Technologies by 13.1% in the 1st quarter. Boston Partners now owns 3,623,923 shares of the technology company’s stock valued at $594,169,000 after purchasing an additional 419,404 shares during the period. Acadian Asset Management LLC raised its holdings in shares of Check Point Software Technologies by 10.5% in the 2nd quarter. Acadian Asset Management LLC now owns 4,108,685 shares of the technology company’s stock valued at $677,869,000 after purchasing an additional 391,983 shares during the period. Marshall Wace LLP acquired a new position in Check Point Software Technologies in the 2nd quarter valued at about $47,244,000. Finally, Meitav Investment House Ltd. grew its stake in Check Point Software Technologies by 1,295.8% in the 2nd quarter. Meitav Investment House Ltd. now owns 209,612 shares of the technology company’s stock valued at $34,557,000 after buying an additional 194,595 shares during the last quarter. 87.62% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CHKP. Jefferies Financial Group upped their price target on shares of Check Point Software Technologies from $210.00 to $225.00 and gave the company a “buy” rating in a research note on Tuesday, September 24th. JPMorgan Chase & Co. upped their price target on shares of Check Point Software Technologies from $180.00 to $210.00 and gave the company a “neutral” rating in a research note on Monday, October 28th. Barclays decreased their price target on shares of 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. Susquehanna upped their price target on shares of Check Point Software Technologies from $200.00 to $215.00 and gave the company a “positive” rating in a research note on Thursday, July 25th. Finally, Mizuho increased their target price on shares of Check Point Software Technologies from $178.00 to $205.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Fifteen equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $197.74.

Check Point Software Technologies Trading Up 0.2 %

Shares of Check Point Software Technologies stock opened at $177.55 on Friday. The company has a 50 day moving average of $192.02 and a 200-day moving average of $175.87. Check Point Software Technologies Ltd. has a 1-year low of $139.55 and a 1-year high of $210.70. The company has a market cap of $19.53 billion, a PE ratio of 24.26, a price-to-earnings-growth ratio of 3.03 and a beta of 0.63.

Check Point Software Technologies (NASDAQ:CHKP) last issued 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 business had revenue of $635.10 million during 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 firm’s revenue was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.80 EPS. Research analysts forecast that Check Point Software Technologies Ltd. will post 7.87 earnings per share 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.