Mackenzie Financial Corp Grows Holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Key Points

• Mackenzie Financial Corp increased its stake in Check Point Software Technologies by 16.8%, acquiring an additional 3,478 shares, bringing its total holdings to 24,208 shares valued at approximately $5.5 million.
• Check Point Software Technologies reported a 6.0% year-over-year increase in revenue for the quarter, achieving $665.2 million and earnings per share of $2.37, slightly exceeding analysts' estimates.
• Despite mixed analyst ratings, the stock has garnered an average target price of $228.08 with a significant proportion of institutional investor ownership at 98.51%.

Mackenzie Financial Corp increased its position in Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 16.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,208 shares of the technology company's stock after buying an additional 3,478 shares during the period. Mackenzie Financial Corp's holdings in Check Point Software Technologies were worth $5,517,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Causeway Capital Management LLC lifted its position in Check Point Software Technologies by 33.8% in the 4th quarter. Causeway Capital Management LLC now owns 1,929,604 shares of the technology company's stock valued at $360,257,000 after acquiring an additional 487,823 shares in the last quarter. First Trust Advisors LP lifted its position in shares of Check Point Software Technologies by 17.4% during the 4th quarter. First Trust Advisors LP now owns 1,822,787 shares of the technology company's stock worth $340,314,000 after buying an additional 269,925 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its position in shares of Check Point Software Technologies by 2.8% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 1,687,393 shares of the technology company's stock worth $384,591,000 after buying an additional 46,713 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of Check Point Software Technologies by 10.6% during the 4th quarter. Ameriprise Financial Inc. now owns 1,429,724 shares of the technology company's stock worth $266,930,000 after buying an additional 136,699 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its position in shares of Check Point Software Technologies by 2,704.5% during the 1st quarter. Victory Capital Management Inc. now owns 1,304,551 shares of the technology company's stock worth $297,333,000 after buying an additional 1,258,034 shares in the last quarter. 98.51% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently commented on CHKP shares. Scotiabank set a $220.00 price target on shares of Check Point Software Technologies and gave the stock a "sector outperform" rating in a report on Thursday. Barclays set a $215.00 price target on shares of Check Point Software Technologies and gave the stock an "equal weight" rating in a report on Thursday. BMO Capital Markets reaffirmed an "outperform" rating and issued a $250.00 price target on shares of Check Point Software Technologies in a report on Wednesday, April 23rd. Stifel Nicolaus set a $200.00 price objective on shares of Check Point Software Technologies in a research note on Wednesday, July 30th. Finally, Jefferies Financial Group reiterated a "buy" rating and issued a $230.00 price objective (down from $260.00) on shares of Check Point Software Technologies in a research note on Thursday. Fifteen investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $228.08.

Check Point Software Technologies Trading Up 2.2%

NASDAQ:CHKP traded up $4.18 during trading hours on Monday, reaching $192.76. The company had a trading volume of 1,391,597 shares, compared to its average volume of 1,057,603. Check Point Software Technologies Ltd. has a 52 week low of $169.01 and a 52 week high of $234.35. The firm has a market cap of $21.20 billion, a price-to-earnings ratio of 25.10, a PEG ratio of 2.82 and a beta of 0.59. The firm's 50 day moving average price is $220.54 and its 200-day moving average price is $218.36.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The technology company reported $2.37 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.01. The business had revenue of $665.20 million for 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 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, analysts forecast that Check Point Software Technologies Ltd. will post 8.61 earnings per share 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.