Penserra Capital Management LLC Boosts Stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Penserra Capital Management LLC grew its holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 5.6% during the 1st quarter, Holdings Channel.com reports. The fund owned 393,212 shares of the technology company’s stock after acquiring an additional 20,812 shares during the period. Check Point Software Technologies accounts for about 1.6% of Penserra Capital Management LLC’s portfolio, making the stock its 10th largest position. Penserra Capital Management LLC’s holdings in Check Point Software Technologies were worth $89,620,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Norges Bank bought a new stake in Check Point Software Technologies during the 4th quarter valued at approximately $428,820,000. Causeway Capital Management LLC lifted its holdings in Check Point Software Technologies by 33.8% in the 4th quarter. Causeway Capital Management LLC now owns 1,929,604 shares of the technology company’s stock worth $360,257,000 after purchasing an additional 487,823 shares in the last quarter. First Trust Advisors LP lifted its holdings in Check Point Software Technologies by 17.4% in the 4th quarter. First Trust Advisors LP now owns 1,822,787 shares of the technology company’s stock worth $340,314,000 after purchasing an additional 269,925 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in Check Point Software Technologies by 2.8% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 1,687,393 shares of the technology company’s stock worth $384,591,000 after purchasing an additional 46,713 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its position in shares of Check Point Software Technologies by 10.6% during the fourth quarter. Ameriprise Financial Inc. now owns 1,429,724 shares of the technology company’s stock worth $266,930,000 after acquiring an additional 136,699 shares during the last quarter. Institutional investors own 98.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on CHKP shares. Mizuho upped their target price on shares of Check Point Software Technologies from $230.00 to $240.00 and gave the stock a “neutral” rating in a research report on Monday, June 16th. Wall Street Zen upgraded shares of Check Point Software Technologies from a “hold” rating to a “buy” rating in a research report on Tuesday, May 13th. Roth Capital started coverage on shares of Check Point Software Technologies in a report on Wednesday, April 23rd. They issued a “neutral” rating and a $215.00 target price for the company. BMO Capital Markets reaffirmed an “outperform” rating and set a $250.00 price objective on shares of Check Point Software Technologies in a research note on Wednesday, April 23rd. Finally, Wells Fargo & Company lowered their target price on shares of Check Point Software Technologies from $280.00 to $265.00 and set an “overweight” rating for the company in a research note on Thursday, April 24th. Sixteen investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Check Point Software Technologies currently has an average rating of “Hold” and a consensus target price of $232.44.

Check Point Software Technologies Trading Up 1.9%

CHKP stock opened at $223.58 on Friday. The company has a market cap of $24.59 billion, a P/E ratio of 29.50, a P/E/G ratio of 3.20 and a beta of 0.64. Check Point Software Technologies Ltd. has a 52 week low of $167.54 and a 52 week high of $234.36. The company’s 50-day moving average price is $221.75 and its 200 day moving average price is $213.92.

Check Point Software Technologies (NASDAQ:CHKP) last released its quarterly earnings data on Wednesday, April 23rd. The technology company reported $2.21 EPS for the quarter, topping analysts’ consensus estimates of $2.19 by $0.02. The firm had revenue of $637.80 million for the quarter, compared to the consensus estimate of $635.80 million. Check Point Software Technologies had a net margin of 32.75% and a return on equity of 32.88%. The firm’s revenue was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.04 earnings per share. On average, equities research analysts expect that Check Point Software Technologies Ltd. will post 8.61 earnings per share for the current year.

Check Point Software Technologies 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.