NorthCoast Asset Management LLC purchased a new stake in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) during the 2nd quarter, HoldingsChannel.com reports. The fund purchased 19,740 shares of the technology company’s stock, valued at approximately $1,928,000.

Several other institutional investors have also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA increased its stake in shares of Check Point Software Technologies by 11.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 13,816,985 shares of the technology company’s stock valued at $1,349,645,000 after buying an additional 1,405,305 shares during the period. BlackRock Inc. increased its stake in shares of Check Point Software Technologies by 1.0% during the second quarter. BlackRock Inc. now owns 5,227,074 shares of the technology company’s stock valued at $510,581,000 after buying an additional 53,263 shares during the period. Alecta Pensionsforsakring Omsesidigt increased its stake in shares of Check Point Software Technologies by 2.9% during the second quarter. Alecta Pensionsforsakring Omsesidigt now owns 5,045,000 shares of the technology company’s stock valued at $492,644,000 after buying an additional 140,000 shares during the period. FIL Ltd increased its stake in shares of Check Point Software Technologies by 50.4% during the first quarter. FIL Ltd now owns 2,590,559 shares of the technology company’s stock valued at $257,346,000 after buying an additional 868,345 shares during the period. Finally, Flossbach Von Storch AG increased its stake in shares of Check Point Software Technologies by 1,455.9% during the second quarter. Flossbach Von Storch AG now owns 2,486,903 shares of the technology company’s stock valued at $242,921,000 after buying an additional 2,327,068 shares during the period. Hedge funds and other institutional investors own 66.67% of the company’s stock.

Shares of CHKP stock opened at $119.66 on Tuesday. Check Point Software Technologies Ltd. has a 1-year low of $93.76 and a 1-year high of $120.81. The stock has a market cap of $19.69 billion, a P/E ratio of 24.47, a P/E/G ratio of 2.40 and a beta of 0.63.

Check Point Software Technologies (NASDAQ:CHKP) last issued its quarterly earnings data on Wednesday, July 25th. The technology company reported $1.37 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.18. Check Point Software Technologies had a return on equity of 22.98% and a net margin of 43.43%. The company had revenue of $467.80 million for the quarter, compared to the consensus estimate of $461.32 million. During the same quarter last year, the company earned $1.26 earnings per share. The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. equities analysts expect that Check Point Software Technologies Ltd. will post 5.19 EPS for the current year.

CHKP has been the topic of several research reports. BidaskClub upgraded Check Point Software Technologies from a “sell” rating to a “hold” rating in a research note on Wednesday, June 13th. Zacks Investment Research upgraded Check Point Software Technologies from a “sell” rating to a “hold” rating in a research note on Thursday, June 14th. OTR Global upgraded Check Point Software Technologies to a “positive” rating in a research note on Friday, July 6th. BTIG Research upgraded Check Point Software Technologies from a “neutral” rating to a “buy” rating in a research note on Tuesday, July 10th. Finally, ValuEngine upgraded Check Point Software Technologies from a “sell” rating to a “hold” rating in a research note on Wednesday, July 11th. Twenty-one equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $114.19.

Check Point Software Technologies Company Profile

Check Point Software Technologies Ltd. develops, markets, and supports a range of products and services for IT security worldwide. The company offers a portfolio of network and gateway solutions, management solutions, and data and endpoint security solutions. It provides Check Point Infinity Architecture, a cyber security architecture that protects against 5th generation mega cyber-attacks across various networks, endpoint, cloud, and mobile; security gateways from platforms for small business and small office locations, high end and high demanding data centers, and perimeter environments; and Check Point SandBlast family for threat prevention and zero-day protections.

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Institutional Ownership by Quarter for Check Point Software Technologies (NASDAQ:CHKP)

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