World Investment Advisors LLC Acquires New Shares in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

World Investment Advisors LLC bought a new position in Check Point Software Technologies Ltd. (NASDAQ:CHKP) in the 3rd quarter, HoldingsChannel reports. The institutional investor bought 28,763 shares of the technology company’s stock, valued at approximately $5,546,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Bank of Montreal Can boosted its position in shares of Check Point Software Technologies by 32.2% in the third quarter. Bank of Montreal Can now owns 85,639 shares of the technology company’s stock valued at $16,532,000 after acquiring an additional 20,866 shares during the period. CWA Asset Management Group LLC purchased a new stake in Check Point Software Technologies in the 3rd quarter worth approximately $1,599,000. Milestone Asset Management LLC bought a new position in Check Point Software Technologies in the 2nd quarter valued at $1,357,000. Assenagon Asset Management S.A. increased its holdings in shares of Check Point Software Technologies by 110.1% in the second quarter. Assenagon Asset Management S.A. now owns 55,903 shares of the technology company’s stock worth $9,224,000 after purchasing an additional 29,298 shares during the period. Finally, MML Investors Services LLC increased its holdings in shares of Check Point Software Technologies by 3.7% in the third quarter. MML Investors Services LLC now owns 103,507 shares of the technology company’s stock worth $19,957,000 after purchasing an additional 3,655 shares during the period. Hedge funds and other institutional investors own 98.51% of the company’s stock.

Check Point Software Technologies Stock Performance

NASDAQ:CHKP opened at $189.50 on Friday. Check Point Software Technologies Ltd. has a fifty-two week low of $144.66 and a fifty-two week high of $210.70. The firm has a market cap of $20.84 billion, a PE ratio of 25.89, a price-to-earnings-growth ratio of 3.21 and a beta of 0.63. The business has a 50 day moving average price of $188.26 and a 200-day moving average price of $180.18.

Check Point Software Technologies (NASDAQ:CHKP) last announced its quarterly earnings results on Tuesday, October 29th. The technology company reported $2.25 earnings per share for the quarter, meeting the consensus estimate of $2.25. Check Point Software Technologies had a net margin of 33.17% and a return on equity of 31.84%. The business had revenue of $635.10 million during the quarter, compared to analysts’ expectations of $634.96 million. During the same quarter in the prior year, the company posted $1.80 EPS. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. Research analysts predict that Check Point Software Technologies Ltd. will post 7.87 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently commented on CHKP shares. Bank of America cut Check Point Software Technologies from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $205.00 to $195.00 in a research report on Wednesday, October 30th. BMO Capital Markets boosted their price objective on Check Point Software Technologies from $200.00 to $238.00 and gave the stock a “market perform” rating in a report on Friday, October 25th. Barclays dropped their target price on shares of Check Point Software Technologies from $210.00 to $200.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 29th. Robert W. Baird decreased their price target on shares of Check Point Software Technologies from $210.00 to $205.00 and set a “neutral” rating on the stock in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Check Point Software Technologies from $180.00 to $210.00 and gave the company a “neutral” rating in a research report on Monday, October 28th. Fifteen analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $197.74.

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.