Check Point Software Technologies (NASDAQ:CHKP) Stock Rating Upgraded by Stephens

Check Point Software Technologies (NASDAQ:CHKP) was upgraded by stock analysts at Stephens to a “strong-buy” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

A number of other research analysts have also issued reports on the company. UBS Group boosted their target price on Check Point Software Technologies from $200.00 to $230.00 and gave the company a “neutral” rating in a report on Friday, January 31st. BMO Capital Markets raised shares of Check Point Software Technologies from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $245.00 to $275.00 in a research note on Friday, March 28th. JPMorgan Chase & Co. upgraded shares of Check Point Software Technologies from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $221.00 to $255.00 in a research report on Wednesday, February 26th. Barclays lifted their target price on shares of Check Point Software Technologies from $200.00 to $230.00 and gave the company an “equal weight” rating in a report on Thursday, January 30th. Finally, The Goldman Sachs Group lowered shares of Check Point Software Technologies from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $204.00 to $207.00 in a research note on Thursday, January 2nd. Sixteen investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $235.09.

Check Point Software Technologies Stock Up 1.3 %

Shares of CHKP stock opened at $230.84 on Monday. The stock’s 50-day moving average price is $219.14 and its 200 day moving average price is $199.11. The stock has a market capitalization of $25.39 billion, a PE ratio of 30.90, a price-to-earnings-growth ratio of 3.41 and a beta of 0.62. Check Point Software Technologies has a 52-week low of $145.75 and a 52-week high of $234.36.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank purchased a new position in Check Point Software Technologies during the 4th quarter valued at about $428,820,000. Causeway Capital Management LLC lifted its holdings in shares of Check Point Software Technologies by 33.8% in the fourth quarter. Causeway Capital Management LLC now owns 1,929,604 shares of the technology company’s stock valued at $360,257,000 after purchasing an additional 487,823 shares in the last quarter. First Trust Advisors LP grew its position in shares of Check Point Software Technologies by 17.4% in the fourth quarter. First Trust Advisors LP now owns 1,822,787 shares of the technology company’s stock valued at $340,314,000 after purchasing an additional 269,925 shares during the last quarter. Ameriprise Financial Inc. raised its position in shares of Check Point Software Technologies by 10.6% during the 4th quarter. Ameriprise Financial Inc. now owns 1,429,724 shares of the technology company’s stock worth $266,930,000 after purchasing an additional 136,699 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Check Point Software Technologies by 3.3% during the 4th quarter. Geode Capital Management LLC now owns 849,546 shares of the technology company’s stock worth $158,035,000 after purchasing an additional 27,267 shares during the last quarter. Institutional investors and hedge funds own 98.51% of the company’s stock.

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.