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

Acadian Asset Management LLC boosted its position in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 10.5% in the 2nd quarter, HoldingsChannel reports. The firm owned 4,108,685 shares of the technology company’s stock after acquiring an additional 391,983 shares during the period. Check Point Software Technologies makes up about 2.1% of Acadian Asset Management LLC’s portfolio, making the stock its 6th largest position. Acadian Asset Management LLC’s holdings in Check Point Software Technologies were worth $677,869,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Tidal Investments LLC acquired a new stake in shares of Check Point Software Technologies during the 1st quarter worth about $6,558,000. Principal Financial Group Inc. raised its holdings in 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 valued at $4,129,000 after acquiring an additional 11,064 shares during the period. Westwood Global Investments LLC lifted its position in Check Point Software Technologies by 15.0% during the fourth quarter. Westwood Global Investments LLC now owns 798,024 shares of the technology company’s stock worth $121,930,000 after acquiring an additional 104,082 shares during the last quarter. Quantbot Technologies LP bought a new stake in shares of Check Point Software Technologies during the first quarter worth approximately $1,095,000. Finally, Envestnet Asset Management Inc. grew its position in shares of Check Point Software Technologies by 4.9% in the fourth quarter. Envestnet Asset Management Inc. now owns 379,889 shares of the technology company’s stock valued at $58,043,000 after purchasing an additional 17,916 shares during the last quarter. Institutional investors own 87.62% of the company’s stock.

Check Point Software Technologies Stock Up 0.1 %

Shares of NASDAQ:CHKP opened at $188.42 on Friday. The firm has a market cap of $21.27 billion, a P/E ratio of 26.17, a P/E/G ratio of 3.00 and a beta of 0.62. The business has a fifty day simple moving average of $180.04 and a 200 day simple moving average of $165.54. Check Point Software Technologies Ltd. has a 12-month low of $126.57 and a 12-month high of $193.27.

Check Point Software Technologies (NASDAQ:CHKP) last announced its earnings results on Wednesday, July 24th. The technology company reported $2.17 EPS 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 business had revenue of $627.40 million for the quarter, compared to analysts’ expectations of $623.19 million. During the same period in the prior year, the business posted $1.74 earnings per share. The firm’s revenue was up 6.6% on a year-over-year basis. As a group, equities research analysts expect that Check Point Software Technologies Ltd. will post 7.83 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CHKP. 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. Royal Bank of Canada lifted their price objective on shares of Check Point Software Technologies from $165.00 to $187.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 25th. KeyCorp upgraded shares of Check Point Software Technologies to a “hold” rating in a research report on Tuesday, May 14th. Barclays lifted their price target on shares of Check Point Software Technologies from $175.00 to $192.00 and gave the company an “equal weight” rating in a research report on Thursday, July 25th. Finally, Jefferies Financial Group lifted their price objective on Check Point Software Technologies from $185.00 to $210.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Fifteen equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average 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.