Check Point Software Technologies Ltd. (NASDAQ:CHKP) Shares Bought by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. raised its position in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 5.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 141,799 shares of the technology company’s stock after acquiring an additional 7,417 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.12% of Check Point Software Technologies worth $21,665,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Bruce G. Allen Investments LLC acquired a new position in Check Point Software Technologies during the fourth quarter worth about $30,000. Salem Investment Counselors Inc. grew its position in shares of Check Point Software Technologies by 483.7% in the fourth quarter. Salem Investment Counselors Inc. now owns 286 shares of the technology company’s stock valued at $44,000 after purchasing an additional 237 shares in the last quarter. Operose Advisors LLC acquired a new stake in shares of Check Point Software Technologies in the third quarter valued at approximately $55,000. Y.D. More Investments Ltd increased its holdings in shares of Check Point Software Technologies by 37.0% in the fourth quarter. Y.D. More Investments Ltd now owns 500 shares of the technology company’s stock valued at $76,000 after purchasing an additional 135 shares during the last quarter. Finally, Industrial Alliance Investment Management Inc. boosted its stake in Check Point Software Technologies by 8.4% during the third quarter. Industrial Alliance Investment Management Inc. now owns 1,386 shares of the technology company’s stock worth $185,000 after buying an additional 107 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on CHKP shares. Stifel Nicolaus cut their target price on Check Point Software Technologies from $170.00 to $165.00 and set a “hold” rating for the company in a research note on Friday, April 26th. Royal Bank of Canada boosted their target price on shares of Check Point Software Technologies from $159.00 to $165.00 and gave the company a “sector perform” rating in a report on Wednesday, February 7th. Mizuho restated a “neutral” rating and set a $160.00 price target on shares of Check Point Software Technologies in a report on Wednesday, March 27th. Wedbush reiterated an “outperform” rating and issued a $185.00 price objective on shares of Check Point Software Technologies in a report on Friday, April 26th. Finally, KeyCorp upgraded Check Point Software Technologies to a “hold” rating in a research report on Tuesday, May 14th. Thirteen equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, Check Point Software Technologies currently has a consensus rating of “Hold” and an average target price of $169.18.

Check Point Software Technologies Stock Up 0.6 %

NASDAQ:CHKP opened at $154.42 on Friday. The company has a market cap of $17.44 billion, a price-to-earnings ratio of 21.45, a price-to-earnings-growth ratio of 2.42 and a beta of 0.64. Check Point Software Technologies Ltd. has a 52 week low of $121.85 and a 52 week high of $168.82. The company has a fifty day simple moving average of $157.78 and a two-hundred day simple moving average of $155.33.

Check Point Software Technologies (NASDAQ:CHKP) last released its earnings results on Thursday, April 25th. The technology company reported $1.72 EPS for the quarter, hitting the consensus estimate of $1.72. The firm had revenue of $598.80 million during the quarter, compared to analysts’ expectations of $595.28 million. Check Point Software Technologies had a return on equity of 31.42% and a net margin of 34.33%. On average, analysts expect that Check Point Software Technologies Ltd. will post 7.79 EPS for the current year.

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.