KBC Group NV Reduces Position in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

KBC Group NV decreased its position in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 6.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 114,464 shares of the technology company’s stock after selling 8,313 shares during the period. KBC Group NV’s holdings in Check Point Software Technologies were worth $21,370,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CHKP. Robeco Institutional Asset Management B.V. increased its holdings in shares of Check Point Software Technologies by 10.7% in the third quarter. Robeco Institutional Asset Management B.V. now owns 1,836,799 shares of the technology company’s stock valued at $354,153,000 after purchasing an additional 177,104 shares during the period. FMR LLC increased its holdings in Check Point Software Technologies by 28.7% in the 3rd quarter. FMR LLC now owns 1,133,175 shares of the technology company’s stock worth $218,488,000 after buying an additional 252,581 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Check Point Software Technologies by 73.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,094,887 shares of the technology company’s stock worth $211,105,000 after buying an additional 464,821 shares during the last quarter. New York State Common Retirement Fund lifted its stake in Check Point Software Technologies by 8.9% during the 3rd quarter. New York State Common Retirement Fund now owns 298,547 shares of the technology company’s stock valued at $57,563,000 after acquiring an additional 24,421 shares during the period. Finally, World Investment Advisors LLC purchased a new stake in shares of Check Point Software Technologies in the 3rd quarter valued at $51,922,000. Institutional investors and hedge funds own 98.51% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on CHKP shares. Wedbush boosted their target price on shares of Check Point Software Technologies from $200.00 to $230.00 and gave the company an “outperform” rating in a research report on Wednesday, October 9th. Truist Financial boosted their price objective on Check Point Software Technologies from $200.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Citigroup raised their target price on Check Point Software Technologies from $185.00 to $190.00 and gave the stock a “neutral” rating in a report on Friday, January 17th. Royal Bank of Canada reissued a “sector perform” rating and issued a $187.00 price target on shares of Check Point Software Technologies in a report on Wednesday, October 30th. Finally, Jefferies Financial Group upped their price objective on Check Point Software Technologies from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Eighteen investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $203.05.

Check Point Software Technologies Price Performance

NASDAQ CHKP opened at $202.94 on Wednesday. The stock’s 50 day simple moving average is $186.09 and its 200-day simple moving average is $186.88. The company has a market cap of $22.32 billion, a PE ratio of 27.72, a price-to-earnings-growth ratio of 3.05 and a beta of 0.63. Check Point Software Technologies Ltd. has a 1-year low of $145.75 and a 1-year high of $210.70.

Check Point Software Technologies (NASDAQ:CHKP) last announced its quarterly earnings data on Tuesday, October 29th. The technology company reported $2.25 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.25. Check Point Software Technologies had a return on equity of 31.84% and a net margin of 33.17%. The company had revenue of $635.10 million for the quarter, compared to analyst estimates of $634.96 million. During the same quarter last year, the firm posted $1.80 EPS. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. On average, equities research analysts anticipate that Check Point Software Technologies Ltd. will post 7.87 EPS for the current fiscal year.

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.