Mackenzie Financial Corp Raises Stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Mackenzie Financial Corp increased its holdings in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 2.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 20,730 shares of the technology company’s stock after purchasing an additional 506 shares during the quarter. Mackenzie Financial Corp’s holdings in Check Point Software Technologies were worth $3,870,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the business. Nemes Rush Group LLC acquired a new stake in shares of Check Point Software Technologies in the fourth quarter worth $25,000. Golden State Wealth Management LLC acquired a new stake in Check Point Software Technologies during the 4th quarter valued at approximately $35,000. Strategic Financial Concepts LLC acquired a new stake in Check Point Software Technologies in the fourth quarter valued at $35,000. Quarry LP lifted its position in shares of Check Point Software Technologies by 100.0% during the fourth quarter. Quarry LP now owns 206 shares of the technology company’s stock worth $38,000 after purchasing an additional 103 shares during the last quarter. Finally, Exchange Traded Concepts LLC lifted its holdings in Check Point Software Technologies by 142.7% during the 4th quarter. Exchange Traded Concepts LLC now owns 233 shares of the technology company’s stock worth $44,000 after buying an additional 137 shares during the last quarter. Hedge funds and other institutional investors own 98.51% of the company’s stock.

Check Point Software Technologies Trading Down 2.0%

NASDAQ CHKP opened at $223.95 on Thursday. The company has a market cap of $24.63 billion, a P/E ratio of 29.98, a PEG ratio of 3.41 and a beta of 0.66. The company has a fifty day simple moving average of $219.18 and a 200 day simple moving average of $206.14. 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) last posted its 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 company had revenue of $637.80 million during the quarter, compared to the consensus estimate of $635.80 million. Check Point Software Technologies had a net margin of 32.97% and a return on equity of 32.40%. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period in the previous year, the firm posted $2.04 earnings per share. Sell-side analysts predict that Check Point Software Technologies Ltd. will post 8.61 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently commented on CHKP. Scotiabank lowered their target price on Check Point Software Technologies from $250.00 to $240.00 and set a “sector outperform” rating on the stock in a research report on Thursday, April 24th. Needham & Company LLC reissued a “hold” rating on shares of Check Point Software Technologies in a research note on Thursday, February 27th. Morgan Stanley decreased their price target on Check Point Software Technologies from $235.00 to $220.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 16th. Piper Sandler upgraded shares of Check Point Software Technologies from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $220.00 to $260.00 in a research report on Monday, March 3rd. Finally, Arete Research upgraded Check Point Software Technologies to a “hold” rating in a research report on Monday, February 24th. Sixteen research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Check Point Software Technologies currently has an average rating of “Hold” and a consensus price target of $232.04.

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.