Victory Capital Management Inc. Purchases 1,258,034 Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Victory Capital Management Inc. lifted its position in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 2,704.5% during the 1st quarter, Holdings Channel reports. The firm owned 1,304,551 shares of the technology company’s stock after purchasing an additional 1,258,034 shares during the quarter. Victory Capital Management Inc.’s holdings in Check Point Software Technologies were worth $297,333,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Larson Financial Group LLC increased its position in Check Point Software Technologies by 23.2% during the first quarter. Larson Financial Group LLC now owns 260 shares of the technology company’s stock worth $59,000 after buying an additional 49 shares during the last quarter. Wealthfront Advisers LLC bought a new position in shares of Check Point Software Technologies during the 1st quarter worth approximately $219,000. Apollon Wealth Management LLC acquired a new position in shares of Check Point Software Technologies during the 1st quarter worth approximately $211,000. Signaturefd LLC increased its holdings in shares of Check Point Software Technologies by 2.9% during the 1st quarter. Signaturefd LLC now owns 3,093 shares of the technology company’s stock worth $705,000 after acquiring an additional 86 shares during the last quarter. Finally, Edgestream Partners L.P. bought a new stake in Check Point Software Technologies in the 1st quarter valued at $311,000. 98.51% of the stock is owned by institutional investors.

Check Point Software Technologies Price Performance

NASDAQ CHKP opened at $218.78 on Wednesday. The business has a fifty day moving average price of $222.49 and a two-hundred day moving average price of $215.55. The stock has a market capitalization of $24.06 billion, a PE ratio of 28.86, a PEG ratio of 3.15 and a beta of 0.64. Check Point Software Technologies Ltd. has a fifty-two week low of $169.02 and a fifty-two week high of $234.36.

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

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Wedbush reiterated an “outperform” rating and issued a $240.00 price objective on shares of Check Point Software Technologies in a report on Thursday, April 24th. Barclays upped their price target on shares of Check Point Software Technologies from $230.00 to $245.00 and gave the company an “equal weight” rating in a research note on Monday. Compass Point set a $260.00 price target on shares of Check Point Software Technologies in a report on Thursday, March 27th. Mizuho boosted their price objective on Check Point Software Technologies from $230.00 to $240.00 and gave the stock a “neutral” rating in a report on Monday, June 16th. Finally, Bank of America upgraded Check Point Software Technologies from a “neutral” rating to a “buy” rating and increased their target price for the stock from $230.00 to $260.00 in a research note on Thursday, March 27th. Sixteen analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $233.04.

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.