Check Point Software Technologies (NASDAQ:CHKP) Sets New 12-Month High at $193.72

Check Point Software Technologies Ltd. (NASDAQ:CHKP)’s share price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $193.72 and last traded at $193.36, with a volume of 58862 shares traded. The stock had previously closed at $190.55.

Analysts Set New Price Targets

CHKP has been the topic of a number of analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Check Point Software Technologies in a research report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Check Point Software Technologies from $175.00 to $185.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Royal Bank of Canada boosted their target price on shares of Check Point Software Technologies from $165.00 to $187.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 25th. Wedbush boosted their target price on shares of Check Point Software Technologies from $185.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Finally, Jefferies Financial Group boosted their target price on shares of Check Point Software Technologies from $185.00 to $210.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Fifteen equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $183.68.

Check Point Software Technologies Stock Performance

The firm’s 50 day moving average is $181.82 and its 200-day moving average is $166.39. The stock has a market capitalization of $21.97 billion, a price-to-earnings ratio of 26.47, a PEG ratio of 2.96 and a beta of 0.62.

Check Point Software Technologies (NASDAQ:CHKP) last posted its earnings results on Wednesday, July 24th. The technology company reported $2.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.16 by $0.01. Check Point Software Technologies had a net margin of 33.61% and a return on equity of 31.59%. The firm had revenue of $627.40 million during the quarter, compared to analysts’ expectations of $623.19 million. During the same period in the previous year, the business posted $1.74 EPS. The business’s revenue was up 6.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Check Point Software Technologies Ltd. will post 7.83 earnings per share for the current year.

Hedge Funds Weigh In On Check Point Software Technologies

Several large investors have recently made changes to their positions in the company. Massachusetts Financial Services Co. MA raised its position in Check Point Software Technologies by 2.1% during the second quarter. Massachusetts Financial Services Co. MA now owns 5,527,700 shares of the technology company’s stock worth $912,070,000 after acquiring an additional 114,938 shares during the period. Acadian Asset Management LLC raised its position in Check Point Software Technologies by 10.5% during the second quarter. Acadian Asset Management LLC now owns 4,108,685 shares of the technology company’s stock worth $677,869,000 after acquiring an additional 391,983 shares during the period. Boston Partners raised its position in Check Point Software Technologies by 13.1% during the first quarter. Boston Partners now owns 3,623,923 shares of the technology company’s stock worth $594,169,000 after acquiring an additional 419,404 shares during the period. Ninety One UK Ltd raised its position in Check Point Software Technologies by 1.1% during the second quarter. Ninety One UK Ltd now owns 3,608,785 shares of the technology company’s stock worth $595,450,000 after acquiring an additional 39,092 shares during the period. Finally, Nordea Investment Management AB raised its position in Check Point Software Technologies by 3.0% during the first quarter. Nordea Investment Management AB now owns 2,674,761 shares of the technology company’s stock worth $440,266,000 after acquiring an additional 77,849 shares during the period. 87.62% of the stock is currently owned by institutional investors and hedge funds.

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.