Connor Clark & Lunn Investment Management Ltd. Acquires Shares of 19,882 Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 19,882 shares of the technology company's stock, valued at approximately $4,532,000.

Several other hedge funds have also made changes to their positions in CHKP. Larson Financial Group LLC lifted its holdings in shares of Check Point Software Technologies by 23.2% in the first quarter. Larson Financial Group LLC now owns 260 shares of the technology company's stock valued at $59,000 after purchasing an additional 49 shares in the last quarter. TD Waterhouse Canada Inc. increased its position in Check Point Software Technologies by 1.7% during the fourth quarter. TD Waterhouse Canada Inc. now owns 3,095 shares of the technology company's stock worth $578,000 after purchasing an additional 52 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its position in Check Point Software Technologies by 19.6% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 336 shares of the technology company's stock worth $77,000 after purchasing an additional 55 shares during the last quarter. 3Chopt Investment Partners LLC raised its stake in shares of Check Point Software Technologies by 0.3% in the 1st quarter. 3Chopt Investment Partners LLC now owns 19,571 shares of the technology company's stock valued at $4,461,000 after acquiring an additional 56 shares during the period. Finally, Cable Hill Partners LLC raised its stake in shares of Check Point Software Technologies by 4.1% in the 1st quarter. Cable Hill Partners LLC now owns 1,563 shares of the technology company's stock valued at $343,000 after acquiring an additional 61 shares during the period. Hedge funds and other institutional investors own 98.51% of the company's stock.

Check Point Software Technologies Stock Performance

Shares of NASDAQ:CHKP traded up $3.60 during midday trading on Friday, reaching $188.92. 801,032 shares of the company's stock were exchanged, compared to its average volume of 1,257,896. The company's 50 day simple moving average is $212.05 and its two-hundred day simple moving average is $217.47. The firm has a market capitalization of $20.78 billion, a PE ratio of 24.60, a price-to-earnings-growth ratio of 2.79 and a beta of 0.59. Check Point Software Technologies Ltd. has a 12 month low of $169.01 and a 12 month high of $234.35.

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

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CHKP. Stephens dropped their price target on shares of Check Point Software Technologies from $229.00 to $210.00 and set an "equal weight" rating on the stock in a research note on Thursday, July 31st. Wedbush reaffirmed an "outperform" rating and issued a $240.00 price target on shares of Check Point Software Technologies in a report on Thursday, April 24th. Scotiabank reduced their target price on shares of Check Point Software Technologies from $240.00 to $220.00 and set a "sector outperform" rating for the company in a research note on Thursday, July 31st. Barclays set a $215.00 target price on shares of Check Point Software Technologies and gave the company an "equal weight" rating in a research note on Thursday, July 31st. Finally, Cantor Fitzgerald set a $220.00 target price on shares of Check Point Software Technologies and gave the company a "neutral" rating in a research note on Thursday, July 31st. Fifteen research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $228.08.

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.