Cadinha & Co. LLC Acquires 60,317 Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Cadinha & Co. LLC raised its holdings in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 546.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 71,350 shares of the technology company’s stock after purchasing an additional 60,317 shares during the period. Check Point Software Technologies accounts for approximately 3.5% of Cadinha & Co. LLC’s holdings, making the stock its 10th biggest holding. Cadinha & Co. LLC owned about 0.06% of Check Point Software Technologies worth $16,262,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Versant Capital Management Inc lifted its position in Check Point Software Technologies by 5,294.4% during the 1st quarter. Versant Capital Management Inc now owns 971 shares of the technology company’s stock valued at $221,000 after purchasing an additional 953 shares during the period. MassMutual Private Wealth & Trust FSB raised its position in shares of Check Point Software Technologies by 19.6% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 336 shares of the technology company’s stock valued at $77,000 after acquiring an additional 55 shares during the period. First Financial Bank Trust Division raised its position in shares of Check Point Software Technologies by 1.5% in the 1st quarter. First Financial Bank Trust Division now owns 36,883 shares of the technology company’s stock valued at $8,406,000 after acquiring an additional 562 shares during the period. Wellington Management Group LLP raised its position in shares of Check Point Software Technologies by 3.4% in the 4th quarter. Wellington Management Group LLP now owns 13,885 shares of the technology company’s stock valued at $2,592,000 after acquiring an additional 452 shares during the period. Finally, California State Teachers Retirement System raised its position in shares of Check Point Software Technologies by 0.4% in the 4th quarter. California State Teachers Retirement System now owns 121,530 shares of the technology company’s stock valued at $22,690,000 after acquiring an additional 470 shares during the period. 98.51% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CHKP. Baird R W upgraded shares of Check Point Software Technologies from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 27th. Mizuho increased their price target on shares of Check Point Software Technologies from $220.00 to $230.00 and gave the company a “neutral” rating in a research report on Wednesday, February 26th. Barclays increased their price target on shares of Check Point Software Technologies from $200.00 to $230.00 and gave the company an “equal weight” rating in a research report on Thursday, January 30th. Jefferies Financial Group increased their price target on shares of Check Point Software Technologies from $250.00 to $255.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Finally, Stifel Nicolaus increased their target price on Check Point Software Technologies from $190.00 to $220.00 and gave the stock a “hold” rating in a research note on Friday, January 31st. Sixteen investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Check Point Software Technologies has a consensus rating of “Hold” and a consensus price target of $232.04.

Check Point Software Technologies Trading Up 0.2%

NASDAQ CHKP opened at $224.39 on Friday. The company has a market cap of $24.68 billion, a PE ratio of 30.04, a PEG ratio of 3.41 and a beta of 0.66. Check Point Software Technologies Ltd. has a 12 month low of $145.75 and a 12 month high of $234.36. The stock has a 50 day moving average of $219.11 and a 200-day moving average of $206.46.

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, beating the consensus estimate of $2.19 by $0.02. The company had revenue of $637.80 million during the quarter, compared to the consensus estimate of $635.80 million. Check Point Software Technologies had a return on equity of 32.40% and a net margin of 32.97%. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.04 EPS. As a group, sell-side analysts predict that Check Point Software Technologies Ltd. will post 8.61 EPS for the current fiscal 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.