TD Asset Management Inc Raises Holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Key Points

• TD Asset Management Inc increased its position in Check Point Software Technologies by 11.5%, now owning 39,732 shares worth approximately $9.06 million.
• Over 98% of Check Point's stock is held by institutional investors and hedge funds, indicating strong interest from large investment firms.
• The company's stock currently has a consensus rating of Moderate Buy among analysts, with an average target price of $228.08.

TD Asset Management Inc increased its position in Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 11.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 39,732 shares of the technology company's stock after buying an additional 4,103 shares during the period. TD Asset Management Inc's holdings in Check Point Software Technologies were worth $9,056,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in CHKP. Nemes Rush Group LLC acquired a new stake in shares of Check Point Software Technologies during the 4th quarter valued at about $25,000. Capital A Wealth Management LLC acquired a new position in Check Point Software Technologies in the fourth quarter valued at about $29,000. Cromwell Holdings LLC bought a new position in shares of Check Point Software Technologies in the first quarter valued at approximately $37,000. Quarry LP raised its position in Check Point Software Technologies by 100.0% in the 4th quarter. Quarry LP now owns 206 shares of the technology company's stock valued at $38,000 after purchasing an additional 103 shares during the last quarter. Finally, Abound Financial LLC acquired a new position in Check Point Software Technologies during the 1st quarter worth about $40,000. 98.51% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CHKP. UBS Group lowered their target price on Check Point Software Technologies from $220.00 to $210.00 and set a "neutral" rating for the company in a research note on Thursday, July 31st. Morgan Stanley reduced 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 report on Thursday, July 31st. Scotiabank set a $220.00 price objective on shares of Check Point Software Technologies and gave the stock a "sector outperform" rating in a research note on Thursday, July 31st. Wedbush reaffirmed an "outperform" rating and set a $240.00 price objective on shares of Check Point Software Technologies in a research note on Thursday, April 24th. Finally, Wall Street Zen upgraded Check Point Software Technologies from a "hold" rating to a "buy" rating in a research report on Tuesday, May 13th. Fifteen investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $228.08.

Check Point Software Technologies Stock Performance

Shares of CHKP stock traded down $1.74 during trading hours on Tuesday, reaching $191.02. The company had a trading volume of 408,783 shares, compared to its average volume of 928,505. Check Point Software Technologies Ltd. has a one year low of $169.01 and a one year high of $234.35. The firm has a market cap of $21.01 billion, a PE ratio of 24.85, a price-to-earnings-growth ratio of 2.82 and a beta of 0.59. The business has a fifty day moving average price of $219.84 and a 200-day moving average price of $218.40.

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 EPS for the quarter, topping the consensus estimate of $2.36 by $0.01. Check Point Software Technologies had a return on equity of 33.21% and a net margin of 32.48%. The firm had revenue of $665.20 million for the quarter, compared to the consensus estimate of $663.10 million. During the same quarter last year, the company earned $2.17 earnings per share. The business's revenue for the quarter was up 6.0% compared to the same quarter last year. Equities research analysts forecast that Check Point Software Technologies Ltd. will post 8.61 EPS for the current year.

About Check Point Software Technologies

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.