Mirae Asset Global Investments Co. Ltd. Boosts Position in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 31.5% during the 1st quarter, Holdings Channel reports. The fund owned 342,750 shares of the technology company’s stock after buying an additional 82,045 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Check Point Software Technologies were worth $56,214,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. BSW Wealth Partners increased its position in shares of Check Point Software Technologies by 3.7% during the 4th quarter. BSW Wealth Partners now owns 2,162 shares of the technology company’s stock worth $330,000 after purchasing an additional 78 shares during the last quarter. Guardian Wealth Management Inc. increased its position in shares of Check Point Software Technologies by 0.5% during the 4th quarter. Guardian Wealth Management Inc. now owns 18,633 shares of the technology company’s stock worth $2,847,000 after purchasing an additional 85 shares during the last quarter. Pacer Advisors Inc. increased its position in shares of Check Point Software Technologies by 6.9% during the 4th quarter. Pacer Advisors Inc. now owns 1,383 shares of the technology company’s stock worth $211,000 after purchasing an additional 89 shares during the last quarter. Butensky & Cohen Financial Security Inc. increased its position in shares of Check Point Software Technologies by 0.4% during the 1st quarter. Butensky & Cohen Financial Security Inc. now owns 26,472 shares of the technology company’s stock worth $4,342,000 after purchasing an additional 102 shares during the last quarter. Finally, Brookstone Capital Management increased its position in shares of Check Point Software Technologies by 1.7% during the 4th quarter. Brookstone Capital Management now owns 6,175 shares of the technology company’s stock worth $943,000 after purchasing an additional 103 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on CHKP shares. Barclays raised their price objective on Check Point Software Technologies from $170.00 to $175.00 and gave the stock an “equal weight” rating in a research report on Friday, April 26th. KeyCorp raised Check Point Software Technologies to a “hold” rating in a research report on Tuesday, May 14th. Stifel Nicolaus cut their price objective on Check Point Software Technologies from $170.00 to $165.00 and set a “hold” rating for the company in a research report on Friday, April 26th. Wedbush reaffirmed an “outperform” rating and issued a $185.00 target price on shares of Check Point Software Technologies in a research report on Friday, April 26th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Check Point Software Technologies in a research report on Friday, April 26th. Thirteen investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $169.18.

Check Point Software Technologies Price Performance

Shares of Check Point Software Technologies stock traded up $0.73 on Friday, reaching $169.45. 798,576 shares of the company were exchanged, compared to its average volume of 568,519. The stock’s 50 day moving average price is $155.25 and its 200-day moving average price is $158.03. The company has a market cap of $19.13 billion, a P/E ratio of 23.53, a price-to-earnings-growth ratio of 2.66 and a beta of 0.62. Check Point Software Technologies Ltd. has a 1-year low of $122.86 and a 1-year high of $170.69.

Check Point Software Technologies (NASDAQ:CHKP) last posted its earnings results on Thursday, April 25th. The technology company reported $1.72 earnings per share for the quarter, hitting the consensus estimate of $1.72. The firm had revenue of $598.80 million during the quarter, compared to analysts’ expectations of $595.28 million. Check Point Software Technologies had a return on equity of 31.42% and a net margin of 34.33%. On average, research analysts predict that Check Point Software Technologies Ltd. will post 7.79 earnings per share 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.