Quantinno Capital Management LP Purchases 778 Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Quantinno Capital Management LP raised its position in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 2.7% in the 4th quarter, Holdings Channel reports. The firm owned 29,241 shares of the technology company’s stock after buying an additional 778 shares during the quarter. Quantinno Capital Management LP’s holdings in Check Point Software Technologies were worth $5,459,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in CHKP. Norges Bank purchased a new stake in shares of Check Point Software Technologies in the fourth quarter worth $428,820,000. Clearbridge Investments LLC purchased a new stake in shares of Check Point Software Technologies in the 4th quarter valued at about $100,456,000. Causeway Capital Management LLC boosted its position in shares of Check Point Software Technologies by 33.8% during the 4th quarter. Causeway Capital Management LLC now owns 1,929,604 shares of the technology company’s stock valued at $360,257,000 after acquiring an additional 487,823 shares during the last quarter. Altshuler Shaham Ltd purchased a new position in shares of Check Point Software Technologies during the fourth quarter worth about $73,186,000. Finally, First Trust Advisors LP grew its holdings in shares of Check Point Software Technologies by 17.4% during the fourth 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. 98.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CHKP. BMO Capital Markets reaffirmed an “outperform” rating and issued a $250.00 target price on shares of Check Point Software Technologies in a research note on Wednesday, April 23rd. Cantor Fitzgerald restated a “neutral” rating and set a $200.00 price objective on shares of Check Point Software Technologies in a research report on Monday, January 27th. Bank of America raised shares of Check Point Software Technologies from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $230.00 to $260.00 in a report on Thursday, March 27th. Morgan Stanley reduced their target price on Check Point Software Technologies from $235.00 to $220.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 16th. Finally, Arete Research raised Check Point Software Technologies to a “hold” rating in a research note on Monday, February 24th. Sixteen equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Check Point Software Technologies presently has an average rating of “Hold” and an average target price of $232.04.

Check Point Software Technologies Stock Up 1.2%

Shares of NASDAQ CHKP opened at $218.68 on Friday. The firm’s fifty day moving average is $219.41 and its 200 day moving average is $203.53. Check Point Software Technologies Ltd. has a 52 week low of $145.75 and a 52 week high of $234.36. The company has a market cap of $24.05 billion, a price-to-earnings ratio of 29.27, a PEG ratio of 3.41 and a beta of 0.66.

Check Point Software Technologies (NASDAQ:CHKP) last released its quarterly earnings data on Wednesday, April 23rd. The technology company reported $2.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.19 by $0.02. The firm had revenue of $637.80 million for the quarter, compared to analysts’ expectations of $635.80 million. Check Point Software Technologies had a net margin of 32.97% and a return on equity of 32.40%. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.04 earnings per share. Equities research analysts anticipate that Check Point Software Technologies Ltd. will post 8.61 earnings per share for the current 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.