LPL Financial LLC Has $41.17 Million Stock Holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Key Points

• LPL Financial LLC increased its stake in Check Point Software Technologies by 9.3% during the first quarter, bringing its total ownership to approximately 0.16% valued at $41.17 million.
• Significant institutional interest is highlighted, with 98.51% of the stock owned by institutional investors and hedge funds, showing a trend of increased investment in Check Point.
• Check Point Software Technologies reported a quarterly EPS of $2.37, slightly above expectations, with a revenue of $665.20 million representing a year-over-year increase of 6%.

LPL Financial LLC increased its position in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 9.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 180,629 shares of the technology company's stock after buying an additional 15,386 shares during the quarter. LPL Financial LLC owned about 0.16% of Check Point Software Technologies worth $41,169,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Check Point Software Technologies by 11.5% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 64,048 shares of the technology company's stock worth $14,598,000 after buying an additional 6,593 shares during the last quarter. ARK Investment Management LLC grew its stake in Check Point Software Technologies by 18.7% during the 1st quarter. ARK Investment Management LLC now owns 10,440 shares of the technology company's stock worth $2,379,000 after buying an additional 1,647 shares during the last quarter. Allium Financial Advisors LLC purchased a new position in shares of Check Point Software Technologies in the 1st quarter valued at approximately $220,000. TD Asset Management Inc grew its stake in shares of Check Point Software Technologies by 11.5% in the 1st quarter. TD Asset Management Inc now owns 39,732 shares of the technology company's stock valued at $9,056,000 after purchasing an additional 4,103 shares during the last quarter. Finally, Cetera Investment Advisers grew its stake in shares of Check Point Software Technologies by 1.4% in the 1st quarter. Cetera Investment Advisers now owns 64,396 shares of the technology company's stock valued at $14,677,000 after purchasing an additional 868 shares during the last quarter. Hedge funds and other institutional investors own 98.51% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CHKP shares. Morgan Stanley lowered their target price on Check Point Software Technologies from $230.00 to $215.00 and set an "equal weight" rating on the stock in a research note on Thursday, July 31st. Mizuho raised their price target on Check Point Software Technologies from $230.00 to $240.00 and gave the company a "neutral" rating in a report on Monday, June 16th. Royal Bank Of Canada reduced their price target on Check Point Software Technologies from $224.00 to $207.00 and set a "sector perform" rating for the company in a report on Thursday, July 31st. Wedbush reissued an "outperform" rating and issued a $240.00 price target on shares of Check Point Software Technologies in a report on Thursday, April 24th. Finally, UBS Group reduced their price target on Check Point Software Technologies from $220.00 to $210.00 and set a "neutral" rating for the company in a report on Thursday, July 31st. Fifteen equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $228.08.

Check Point Software Technologies Price Performance

Shares of NASDAQ:CHKP traded down $1.45 on Wednesday, reaching $187.46. 476,961 shares of the company traded hands, compared to its average volume of 930,112. Check Point Software Technologies Ltd. has a fifty-two week low of $169.01 and a fifty-two week high of $234.35. The company's 50 day moving average is $219.04 and its 200-day moving average is $218.19. The stock has a market capitalization of $20.62 billion, a PE ratio of 24.41, a P/E/G ratio of 2.90 and a beta of 0.59.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The technology company reported $2.37 EPS for the quarter, beating analysts' consensus estimates of $2.36 by $0.01. The company had revenue of $665.20 million during the quarter, compared to the consensus estimate of $663.10 million. Check Point Software Technologies had a return on equity of 33.21% and a net margin of 32.48%. The company's quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.17 EPS. As a group, analysts expect that Check Point Software Technologies Ltd. will post 8.61 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.