Tokio Marine Asset Management Co. Ltd. Grows Holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Tokio Marine Asset Management Co. Ltd. boosted its holdings in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 17.5% in the third quarter, HoldingsChannel reports. The fund owned 2,791 shares of the technology company’s stock after acquiring an additional 415 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Check Point Software Technologies were worth $538,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the business. Swedbank AB purchased a new position in shares of Check Point Software Technologies during the first quarter valued at approximately $69,487,000. Boston Partners increased 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 valued at $594,169,000 after buying an additional 419,404 shares in the last quarter. Acadian Asset Management LLC raised its stake 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 valued at $677,869,000 after buying an additional 391,983 shares during the last quarter. Marshall Wace LLP purchased a new stake in shares of Check Point Software Technologies in the second quarter worth $47,244,000. Finally, Meitav Investment House Ltd. grew its stake in shares of Check Point Software Technologies by 1,295.8% in the second quarter. Meitav Investment House Ltd. now owns 209,612 shares of the technology company’s stock worth $34,557,000 after acquiring an additional 194,595 shares during the last quarter. Institutional investors own 87.62% of the company’s stock.

Check Point Software Technologies Stock Performance

Shares of Check Point Software Technologies stock opened at $174.25 on Friday. The stock’s fifty day moving average is $191.52 and its 200 day moving average is $176.05. Check Point Software Technologies Ltd. has a one year low of $139.55 and a one year high of $210.70. The stock has a market cap of $19.16 billion, a P/E ratio of 23.80, a P/E/G ratio of 3.02 and a beta of 0.63.

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

Analysts Set New Price Targets

CHKP has been the topic of a number of analyst reports. Barclays dropped their price target on shares of Check Point Software Technologies from $210.00 to $200.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 29th. Robert W. Baird reduced their price target on shares of Check Point Software Technologies from $210.00 to $205.00 and set a “neutral” rating for the company in a research report on Wednesday, October 30th. Bank of America lowered shares of Check Point Software Technologies from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $205.00 to $195.00 in a report on Wednesday, October 30th. BMO Capital Markets increased their target price on Check Point Software Technologies from $200.00 to $238.00 and gave the company a “market perform” rating in a research note on Friday, October 25th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $187.00 price target on shares of Check Point Software Technologies in a research note on Wednesday, October 30th. Fifteen research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $197.74.

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 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.