BNP PARIBAS ASSET MANAGEMENT Holding S.A. Decreases Holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. reduced its position in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 6.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 289,094 shares of the technology company’s stock after selling 19,643 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Check Point Software Technologies were worth $47,701,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CHKP. Principal Financial Group Inc. lifted its holdings in shares of Check Point Software Technologies by 16.9% in the second quarter. Principal Financial Group Inc. now owns 31,355 shares of the technology company’s stock valued at $5,174,000 after purchasing an additional 4,541 shares in the last quarter. Panagora Asset Management Inc. lifted its stake in Check Point Software Technologies by 7.1% in the 2nd quarter. Panagora Asset Management Inc. now owns 20,822 shares of the technology company’s stock valued at $3,436,000 after buying an additional 1,377 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Check Point Software Technologies by 2.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 60,368 shares of the technology company’s stock valued at $9,961,000 after buying an additional 1,615 shares during the last quarter. Meitav Investment House Ltd. increased its position in Check Point Software Technologies by 1,295.8% during the second quarter. Meitav Investment House Ltd. now owns 209,612 shares of the technology company’s stock worth $34,557,000 after buying an additional 194,595 shares in the last quarter. Finally, Argonautica Private Wealth Management Inc. raised its holdings in shares of Check Point Software Technologies by 1.3% in the second quarter. Argonautica Private Wealth Management Inc. now owns 5,928 shares of the technology company’s stock worth $978,000 after acquiring an additional 78 shares during the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.

Check Point Software Technologies Stock Performance

Check Point Software Technologies stock opened at $192.50 on Friday. The firm has a market capitalization of $21.74 billion, a PE ratio of 26.74, a price-to-earnings-growth ratio of 2.84 and a beta of 0.62. Check Point Software Technologies Ltd. has a one year low of $126.57 and a one year high of $193.27. The stock’s 50 day moving average price is $176.30 and its 200 day moving average price is $164.39.

Check Point Software Technologies (NASDAQ:CHKP) last released its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.17 earnings per share for the quarter, beating analysts’ consensus estimates of $2.16 by $0.01. Check Point Software Technologies had a net margin of 33.61% and a return on equity of 31.59%. The business had revenue of $627.40 million during the quarter, compared to analyst estimates of $623.19 million. During the same period last year, the business earned $1.74 EPS. The business’s revenue was up 6.6% on a year-over-year basis. On average, analysts forecast that Check Point Software Technologies Ltd. will post 7.83 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on CHKP shares. BMO Capital Markets lifted their price objective on Check Point Software Technologies from $180.00 to $200.00 and gave the stock a “market perform” rating in a research report on Thursday, July 25th. Robert W. Baird raised their target price on shares of Check Point Software Technologies from $168.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft increased their price target on Check Point Software Technologies from $175.00 to $185.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Scotiabank lifted their price objective on Check Point Software Technologies from $180.00 to $200.00 and gave the company a “sector outperform” rating in a research report on Thursday, July 25th. Finally, Wedbush increased their target price on Check Point Software Technologies from $185.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Fifteen analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $183.68.

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.