KBC Group NV Grows Stock Holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

KBC Group NV lifted its stake in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 41.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 122,777 shares of the technology company’s stock after purchasing an additional 36,042 shares during the quarter. KBC Group NV owned 0.11% of Check Point Software Technologies worth $23,673,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA raised its position in shares of Check Point Software Technologies by 2.1% in the second quarter. Massachusetts Financial Services Co. MA now owns 5,527,700 shares of the technology company’s stock worth $912,070,000 after buying an additional 114,938 shares in the last quarter. Acadian Asset Management LLC lifted its position in shares of Check Point Software Technologies by 10.5% in the 2nd quarter. Acadian Asset Management LLC now owns 4,108,685 shares of the technology company’s stock worth $677,869,000 after purchasing an additional 391,983 shares during the period. Boston Partners boosted its position in shares of Check Point Software Technologies by 13.1% during the first quarter. Boston Partners now owns 3,623,923 shares of the technology company’s stock valued at $594,169,000 after purchasing an additional 419,404 shares in the last quarter. Ninety One UK Ltd grew its holdings in Check Point Software Technologies by 1.1% in the second quarter. Ninety One UK Ltd now owns 3,608,785 shares of the technology company’s stock worth $595,450,000 after purchasing an additional 39,092 shares during the period. Finally, Robeco Institutional Asset Management B.V. increased its holdings in shares of Check Point Software Technologies by 10.7% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,836,799 shares of the technology company’s stock valued at $354,153,000 after acquiring an additional 177,104 shares in the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Check Point Software Technologies Stock Performance

CHKP stock opened at $174.25 on Friday. The stock’s 50 day moving average price is $191.81 and its 200 day moving average price is $175.88. The firm has a market cap of $19.16 billion, a P/E ratio of 23.80, a PEG ratio of 3.02 and a beta of 0.63. Check Point Software Technologies Ltd. has a 1 year low of $139.55 and a 1 year high of $210.70.

Check Point Software Technologies (NASDAQ:CHKP) last posted its quarterly earnings data on Tuesday, October 29th. The technology company reported $2.25 EPS for the quarter, hitting analysts’ consensus estimates of $2.25. The firm had revenue of $635.10 million during 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 firm’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.80 EPS. On average, research analysts predict that Check Point Software Technologies Ltd. will post 7.87 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on CHKP shares. Susquehanna boosted their target price on shares of Check Point Software Technologies from $200.00 to $215.00 and gave the company a “positive” rating in a research note on Thursday, July 25th. Mizuho raised their price objective on Check Point Software Technologies from $178.00 to $205.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Scotiabank boosted their target price on shares of Check Point Software Technologies from $180.00 to $200.00 and gave the stock a “sector outperform” rating in a report on Thursday, July 25th. Jefferies Financial Group raised their price target on Check Point Software Technologies from $210.00 to $225.00 and gave the stock a “buy” rating in a research report on Tuesday, September 24th. Finally, Needham & Company LLC restated a “hold” rating on shares of Check Point Software Technologies in a research report on Wednesday, October 30th. Fifteen research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Check Point Software Technologies currently has an average rating of “Hold” and a consensus price target 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.