Rafferty Asset Management LLC Increases Position in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Rafferty Asset Management LLC boosted its holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 1.1% during the second quarter, Holdings Channel.com reports. The fund owned 30,818 shares of the technology company’s stock after acquiring an additional 331 shares during the period. Rafferty Asset Management LLC’s holdings in Check Point Software Technologies were worth $3,579,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Public Employees Retirement Association of Colorado grew its stake in Check Point Software Technologies by 9.9% in the 1st quarter. Public Employees Retirement Association of Colorado now owns 36,508 shares of the technology company’s stock valued at $4,088,000 after acquiring an additional 3,300 shares during the last quarter. Fort L.P. grew its stake in Check Point Software Technologies by 3.7% in the 1st quarter. Fort L.P. now owns 13,390 shares of the technology company’s stock valued at $1,499,000 after acquiring an additional 482 shares during the last quarter. One Wealth Advisors LLC grew its stake in Check Point Software Technologies by 36.4% in the 1st quarter. One Wealth Advisors LLC now owns 3,423 shares of the technology company’s stock valued at $383,000 after acquiring an additional 914 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its stake in Check Point Software Technologies by 12.7% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 202,485 shares of the technology company’s stock valued at $24,883,000 after acquiring an additional 22,799 shares during the last quarter. Finally, QS Investors LLC grew its stake in Check Point Software Technologies by 16.2% in the 1st quarter. QS Investors LLC now owns 47,782 shares of the technology company’s stock valued at $5,351,000 after acquiring an additional 6,663 shares during the last quarter. 66.37% of the stock is currently owned by hedge funds and other institutional investors.

CHKP opened at $116.34 on Wednesday. The company’s 50 day simple moving average is $123.62 and its 200 day simple moving average is $119.34. Check Point Software Technologies Ltd. has a 1 year low of $109.07 and a 1 year high of $139.26. The stock has a market capitalization of $15.96 billion, a PE ratio of 19.13, a P/E/G ratio of 2.73 and a beta of 0.65.

Check Point Software Technologies (NASDAQ:CHKP) last released its earnings results on Sunday, July 25th. The technology company reported $1.61 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.56 by $0.05. Check Point Software Technologies had a net margin of 39.90% and a return on equity of 25.58%. The business had revenue of $526.10 million for the quarter, compared to analysts’ expectations of $523.96 million. During the same period last year, the company earned $1.58 earnings per share. The company’s quarterly revenue was up 4.1% on a year-over-year basis. On average, research analysts expect that Check Point Software Technologies Ltd. will post 6.04 earnings per share for the current year.

A number of equities research analysts recently commented on CHKP shares. The Goldman Sachs Group cut shares of Check Point Software Technologies from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $133.00 to $121.00 in a research note on Monday. Morgan Stanley raised their price target on shares of Check Point Software Technologies from $110.00 to $114.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 27th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Check Point Software Technologies from $125.00 to $122.00 and set a “hold” rating on the stock in a research note on Monday, July 12th. Cowen assumed coverage on shares of Check Point Software Technologies in a research note on Wednesday, May 26th. They set an “outperform” rating and a $140.00 price target on the stock. Finally, BMO Capital Markets raised their price target on shares of Check Point Software Technologies from $135.00 to $140.00 and gave the stock a “market perform” rating in a research note on Tuesday, July 27th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Check Point Software Technologies presently has an average rating of “Hold” and a consensus price target of $134.42.

Check Point Software Technologies Profile

Check Point Software Technologies Ltd. engages in the development and market of software and hardware solutions for information technology security. Its products include threat prevention, next generation firewalls, mobile security, and security management. The company was founded by Gil Shwed, Marius Nacht, and Shlomo Kramer in July 1993 and is headquartered in Tel Aviv, Israel.

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

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