LSV Asset Management Has $14.97 Million Holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Key Points

• LSV Asset Management significantly reduced its holdings in Check Point Software Technologies by 78.5%, selling more than 239,000 shares during the first quarter.
• Several equities analysts have adjusted their price targets for Check Point, with Morgan Stanley lowering it to $215.00 and Wedbush maintaining an "outperform" rating with a target of $240.00.
• Check Point Software Technologies reported earnings of $2.37 per share, slightly surpassing consensus estimates, alongside a revenue increase of 6.0% year-over-year to $665.20 million.

LSV Asset Management lowered its holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 78.5% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 65,677 shares of the technology company's stock after selling 239,723 shares during the quarter. LSV Asset Management owned 0.06% of Check Point Software Technologies worth $14,969,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CHKP. JPMorgan Chase & Co. grew its holdings in Check Point Software Technologies by 23.8% in the 4th quarter. JPMorgan Chase & Co. now owns 186,177 shares of the technology company's stock valued at $34,759,000 after buying an additional 35,766 shares during the last quarter. Schroder Investment Management Group lifted its position in shares of Check Point Software Technologies by 53.9% in the 4th quarter. Schroder Investment Management Group now owns 4,706 shares of the technology company's stock worth $881,000 after acquiring an additional 1,649 shares during the period. Wellington Management Group LLP lifted its position in shares of Check Point Software Technologies by 3.4% in the 4th quarter. Wellington Management Group LLP now owns 13,885 shares of the technology company's stock worth $2,592,000 after acquiring an additional 452 shares during the period. National Bank of Canada FI lifted its position in shares of Check Point Software Technologies by 35.6% in the 4th quarter. National Bank of Canada FI now owns 1,979 shares of the technology company's stock worth $369,000 after acquiring an additional 520 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of Check Point Software Technologies by 3.3% in the 4th quarter. Geode Capital Management LLC now owns 849,546 shares of the technology company's stock worth $158,035,000 after acquiring an additional 27,267 shares during the period. Institutional investors and hedge funds own 98.51% of the company's stock.

Analyst Ratings Changes

A number of analysts have commented on the company. Wedbush reiterated an "outperform" rating and issued a $240.00 price objective on shares of Check Point Software Technologies in a research report on Thursday, April 24th. Mizuho raised their price objective on Check Point Software Technologies from $230.00 to $240.00 and gave the stock a "neutral" rating in a research report on Monday, June 16th. Jefferies Financial Group reduced their price objective on Check Point Software Technologies from $260.00 to $230.00 and set a "buy" rating for the company in a research report on Thursday, July 31st. Cantor Fitzgerald set a $220.00 price objective on Check Point Software Technologies and gave the stock a "neutral" rating in a research report on Thursday, July 31st. Finally, Stephens cut their target price on Check Point Software Technologies from $229.00 to $210.00 and set an "equal weight" rating for the company in a research report on Thursday, July 31st. Fifteen research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Check Point Software Technologies currently has an average rating of "Moderate Buy" and a consensus target price of $228.08.

Check Point Software Technologies Price Performance

Shares of NASDAQ CHKP traded down $1.70 during midday trading on Friday, hitting $183.34. The stock had a trading volume of 411,026 shares, compared to its average volume of 936,030. The company's 50-day simple moving average is $217.54 and its 200 day simple moving average is $217.97. The firm has a market cap of $20.16 billion, a P/E ratio of 23.89, a price-to-earnings-growth ratio of 2.83 and a beta of 0.59. Check Point Software Technologies Ltd. has a fifty-two week low of $169.01 and a fifty-two week high of $234.35.

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

Check Point Software Technologies 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.