Check Point Software Technologies (NASDAQ:CHKP) Reaches New 52-Week High at $170.21

Check Point Software Technologies Ltd. (NASDAQ:CHKP)’s share price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $170.21 and last traded at $169.88, with a volume of 65767 shares changing hands. The stock had previously closed at $167.73.

Analyst Ratings Changes

Several equities research analysts have issued reports on CHKP shares. Wedbush reissued an “outperform” rating and issued a $185.00 price objective on shares of Check Point Software Technologies in a research report on Friday, April 26th. Stifel Nicolaus lowered their price objective on shares of 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. KeyCorp raised shares of Check Point Software Technologies to a “hold” rating in a research report on Tuesday, May 14th. Mizuho reissued a “neutral” rating and issued a $160.00 price objective on shares of Check Point Software Technologies in a research report on Wednesday, March 27th. Finally, Barclays boosted their price objective on shares of Check Point Software Technologies from $170.00 to $175.00 and gave the company an “equal weight” rating in a research report on Friday, April 26th. Thirteen research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $169.18.

Check Point Software Technologies Stock Performance

The stock has a market cap of $19.05 billion, a P/E ratio of 23.43, a price-to-earnings-growth ratio of 2.65 and a beta of 0.62. The firm’s 50 day moving average is $154.57 and its 200 day moving average is $157.81.

Check Point Software Technologies (NASDAQ:CHKP) last posted its quarterly earnings data on Thursday, April 25th. The technology company reported $1.72 EPS for the quarter, hitting the consensus estimate of $1.72. The firm had revenue of $598.80 million during the quarter, compared to analyst estimates of $595.28 million. Check Point Software Technologies had a net margin of 34.33% and a return on equity of 31.42%. As a group, analysts expect that Check Point Software Technologies Ltd. will post 7.79 EPS for the current fiscal year.

Institutional Trading of Check Point Software Technologies

Several large investors have recently bought and sold shares of the stock. Boston Partners grew its position in Check Point Software Technologies by 13.1% during the 1st quarter. Boston Partners now owns 3,623,923 shares of the technology company’s stock worth $594,169,000 after purchasing an additional 419,404 shares during the last quarter. Nordea Investment Management AB grew its position in Check Point Software Technologies by 3.0% during the 1st quarter. Nordea Investment Management AB now owns 2,674,761 shares of the technology company’s stock worth $440,266,000 after purchasing an additional 77,849 shares during the last quarter. Legal & General Group Plc grew its position in Check Point Software Technologies by 3.4% during the 3rd quarter. Legal & General Group Plc now owns 1,626,814 shares of the technology company’s stock worth $216,822,000 after purchasing an additional 52,863 shares during the last quarter. Morningstar Investment Services LLC grew its position in Check Point Software Technologies by 98.5% during the 4th quarter. Morningstar Investment Services LLC now owns 970,634 shares of the technology company’s stock worth $148,080,000 after purchasing an additional 481,626 shares during the last quarter. Finally, Westwood Global Investments LLC grew its position in Check Point Software Technologies by 1.2% during the 1st quarter. Westwood Global Investments LLC now owns 807,862 shares of the technology company’s stock worth $132,497,000 after purchasing an additional 9,838 shares during the last quarter. Hedge funds and other institutional investors own 87.62% 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.