Meiji Yasuda Asset Management Co Ltd. Buys New Position in Check Point Software Technologies Ltd. (CHKP)

Meiji Yasuda Asset Management Co Ltd. bought a new position in Check Point Software Technologies Ltd. (NASDAQ:CHKP) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 2,000 shares of the technology company’s stock, valued at approximately $235,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Quantbot Technologies LP bought a new stake in shares of Check Point Software Technologies during the third quarter worth approximately $1,733,000. Virtu Financial LLC bought a new stake in shares of Check Point Software Technologies during the third quarter worth approximately $1,235,000. Gideon Capital Advisors Inc. bought a new stake in shares of Check Point Software Technologies during the third quarter worth approximately $408,000. Pictet Asset Management Ltd. bought a new stake in shares of Check Point Software Technologies during the third quarter worth approximately $137,032,000. Finally, Boston Private Wealth LLC bought a new stake in shares of Check Point Software Technologies during the third quarter worth approximately $258,000. 64.41% of the stock is owned by institutional investors.

CHKP has been the subject of a number of recent research reports. Wedbush initiated coverage on shares of Check Point Software Technologies in a research note on Thursday, October 18th. They set an “outperform” rating and a $140.00 price target for the company. BidaskClub downgraded shares of Check Point Software Technologies from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 3rd. Zacks Investment Research raised shares of Check Point Software Technologies from a “hold” rating to a “buy” rating and set a $133.00 price target for the company in a research note on Tuesday, September 25th. Robert W. Baird reissued a “neutral” rating on shares of Check Point Software Technologies in a research note on Thursday, October 18th. Finally, ValuEngine upgraded shares of Check Point Software Technologies from a “hold” rating to a “buy” rating in a report on Thursday, November 15th. Eighteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $115.33.

Shares of NASDAQ CHKP opened at $111.81 on Friday. The company has a market cap of $18.04 billion, a P/E ratio of 22.87, a PEG ratio of 2.19 and a beta of 0.68. Check Point Software Technologies Ltd. has a 52-week low of $93.76 and a 52-week high of $120.81.

Check Point Software Technologies (NASDAQ:CHKP) last issued its quarterly earnings data on Wednesday, October 24th. The technology company reported $1.38 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.36 by $0.02. The firm had revenue of $470.80 million during the quarter, compared to analysts’ expectations of $465.94 million. Check Point Software Technologies had a net margin of 43.35% and a return on equity of 23.04%. The business’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.30 earnings per share. Equities analysts forecast that Check Point Software Technologies Ltd. will post 5.2 EPS for the current year.

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Check Point Software Technologies 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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