Integrated Wealth Concepts LLC Acquires New Stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Integrated Wealth Concepts LLC acquired a new stake in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,339 shares of the technology company's stock, valued at approximately $250,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. MGO One Seven LLC increased its stake in Check Point Software Technologies by 37.0% in the fourth quarter. MGO One Seven LLC now owns 2,290 shares of the technology company's stock valued at $428,000 after purchasing an additional 619 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Check Point Software Technologies by 12.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 60,861 shares of the technology company's stock worth $11,364,000 after acquiring an additional 6,620 shares during the period. Dark Forest Capital Management LP boosted its position in shares of Check Point Software Technologies by 116.5% in the fourth quarter. Dark Forest Capital Management LP now owns 2,293 shares of the technology company's stock worth $428,000 after acquiring an additional 1,234 shares during the last quarter. Hsbc Holdings PLC grew its holdings in Check Point Software Technologies by 27.6% in the fourth quarter. Hsbc Holdings PLC now owns 59,837 shares of the technology company's stock valued at $11,182,000 after purchasing an additional 12,943 shares during the period. Finally, Fayez Sarofim & Co raised its stake in Check Point Software Technologies by 2.5% during the fourth quarter. Fayez Sarofim & Co now owns 22,795 shares of the technology company's stock worth $4,256,000 after purchasing an additional 555 shares during the period. 98.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CHKP has been the subject of several research reports. Scotiabank lowered their price objective on shares of Check Point Software Technologies from $250.00 to $240.00 and set a "sector outperform" rating for the company in a research note on Thursday, April 24th. Arete Research upgraded Check Point Software Technologies to a "hold" rating in a report on Monday, February 24th. Robert W. Baird upgraded Check Point Software Technologies from a "neutral" rating to an "outperform" rating and boosted their target price for the stock from $235.00 to $255.00 in a report on Thursday, February 27th. UBS Group raised their price target on shares of Check Point Software Technologies from $200.00 to $230.00 and gave the company a "neutral" rating in a report on Friday, January 31st. Finally, Wedbush reissued 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. Eighteen investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $232.04.

Check Point Software Technologies Price Performance

Shares of NASDAQ CHKP traded up $0.03 during mid-day trading on Wednesday, hitting $220.87. The company had a trading volume of 813,706 shares, compared to its average volume of 778,211. The stock has a market cap of $24.29 billion, a price-to-earnings ratio of 29.57, a PEG ratio of 3.41 and a beta of 0.66. The firm's 50 day simple moving average is $220.26 and its two-hundred day simple moving average is $202.60. Check Point Software Technologies Ltd. has a 12 month low of $145.75 and a 12 month high of $234.36.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The technology company reported $2.21 EPS for the quarter, topping the consensus estimate of $2.19 by $0.02. The business had revenue of $637.80 million during the quarter, compared to analyst estimates of $635.80 million. Check Point Software Technologies had a net margin of 32.97% and a return on equity of 32.40%. The company's quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.04 earnings per share. Equities analysts forecast that Check Point Software Technologies Ltd. will post 8.61 earnings per share 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.