Swedbank AB Buys 4,760 Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Swedbank AB grew its position in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 1.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 428,042 shares of the technology company’s stock after purchasing an additional 4,760 shares during the quarter. Swedbank AB owned about 0.39% of Check Point Software Technologies worth $79,915,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bank of Montreal Can raised its stake in Check Point Software Technologies by 32.2% during the third quarter. Bank of Montreal Can now owns 85,639 shares of the technology company’s stock worth $16,532,000 after buying an additional 20,866 shares during the last quarter. CWA Asset Management Group LLC bought a new position in shares of Check Point Software Technologies in the 3rd quarter worth about $1,599,000. MML Investors Services LLC lifted its stake in shares of Check Point Software Technologies by 3.7% in the 3rd quarter. MML Investors Services LLC now owns 103,507 shares of the technology company’s stock valued at $19,957,000 after purchasing an additional 3,655 shares during the period. Martin Investment Management LLC boosted its position in shares of Check Point Software Technologies by 2.0% during the 3rd quarter. Martin Investment Management LLC now owns 163,357 shares of the technology company’s stock valued at $31,497,000 after purchasing an additional 3,225 shares in the last quarter. Finally, Chevy Chase Trust Holdings LLC grew its stake in Check Point Software Technologies by 69.6% during the third quarter. Chevy Chase Trust Holdings LLC now owns 23,351 shares of the technology company’s stock worth $4,502,000 after purchasing an additional 9,580 shares during the period. Institutional investors and hedge funds own 98.51% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on CHKP shares. Robert W. Baird cut their price target on Check Point Software Technologies from $210.00 to $205.00 and set a “neutral” rating on the stock in a report on Wednesday, October 30th. Barclays reduced their price target on shares of Check Point Software Technologies from $210.00 to $200.00 and set an “equal weight” rating for the company in a report on Tuesday, October 29th. Scotiabank increased their price objective on shares of Check Point Software Technologies from $200.00 to $215.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, January 21st. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $187.00 target price on shares of Check Point Software Technologies in a research report on Wednesday, October 30th. Finally, Stifel Nicolaus increased their price target on Check Point Software Technologies from $182.00 to $190.00 and gave the stock a “hold” rating in a report on Wednesday, December 18th. Seventeen analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $205.10.

Check Point Software Technologies Stock Performance

Shares of CHKP stock opened at $203.90 on Thursday. The company has a market capitalization of $22.42 billion, a price-to-earnings ratio of 27.86, a PEG ratio of 3.05 and a beta of 0.63. Check Point Software Technologies Ltd. has a 52-week low of $145.75 and a 52-week high of $210.70. The company has a 50-day simple moving average of $186.66 and a two-hundred day simple moving average of $187.10.

Check Point Software Technologies (NASDAQ:CHKP) last released its earnings results on Tuesday, October 29th. The technology company reported $2.25 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.25. The company had revenue of $635.10 million during the quarter, compared to analyst estimates of $634.96 million. Check Point Software Technologies had a return on equity of 31.84% and a net margin of 33.17%. Check Point Software Technologies’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.80 earnings per share. On average, sell-side analysts forecast 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.