Check Point Software Technologies Ltd. (NASDAQ:CHKP) Position Boosted by Causeway Capital Management LLC

Causeway Capital Management LLC grew its stake in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 33.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,929,604 shares of the technology company’s stock after purchasing an additional 487,823 shares during the quarter. Check Point Software Technologies comprises 8.2% of Causeway Capital Management LLC’s portfolio, making the stock its 2nd biggest holding. Causeway Capital Management LLC’s holdings in Check Point Software Technologies were worth $360,257,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Nemes Rush Group LLC bought a new position in Check Point Software Technologies during the 4th quarter worth approximately $25,000. GAMMA Investing LLC boosted its stake in shares of Check Point Software Technologies by 53.1% during the fourth quarter. GAMMA Investing LLC now owns 173 shares of the technology company’s stock valued at $32,000 after purchasing an additional 60 shares during the period. Golden State Wealth Management LLC bought a new position in shares of Check Point Software Technologies in the fourth quarter worth approximately $35,000. Strategic Financial Concepts LLC purchased a new position in shares of Check Point Software Technologies in the fourth quarter worth $35,000. Finally, Exchange Traded Concepts LLC raised its holdings in Check Point Software Technologies by 142.7% during the 4th quarter. Exchange Traded Concepts LLC now owns 233 shares of the technology company’s stock valued at $44,000 after buying an additional 137 shares during the last quarter. Hedge funds and other institutional investors own 98.51% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on CHKP. Wells Fargo & Company raised shares of Check Point Software Technologies from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $200.00 to $280.00 in a report on Friday, March 14th. Baird R W raised Check Point Software Technologies from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 27th. Truist Financial restated a “buy” rating and set a $250.00 price target (up previously from $220.00) on shares of Check Point Software Technologies in a report on Friday, January 31st. Cantor Fitzgerald reiterated a “neutral” rating and issued a $200.00 price objective on shares of Check Point Software Technologies in a report on Monday, January 27th. Finally, Citigroup boosted their target price on Check Point Software Technologies from $185.00 to $190.00 and gave the company a “neutral” rating in a research note on Friday, January 17th. Fifteen analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $236.13.

Check Point Software Technologies Trading Up 1.8 %

CHKP stock opened at $217.71 on Monday. The stock’s 50 day simple moving average is $221.43 and its 200 day simple moving average is $200.72. Check Point Software Technologies Ltd. has a 12-month low of $145.75 and a 12-month high of $234.36. The stock has a market capitalization of $23.94 billion, a PE ratio of 29.14, a price-to-earnings-growth ratio of 3.41 and a beta of 0.62.

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.