Schwab Charles Investment Management Inc. Acquires 4,607 Shares of Check Point Software Technologies Ltd. (CHKP)

Schwab Charles Investment Management Inc. raised its holdings in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 8.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 58,406 shares of the technology company’s stock after acquiring an additional 4,607 shares during the period. Schwab Charles Investment Management Inc.’s holdings in Check Point Software Technologies were worth $6,371,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Gateway Investment Advisers LLC grew its holdings in shares of Check Point Software Technologies by 1.3% in the second quarter. Gateway Investment Advisers LLC now owns 2,407 shares of the technology company’s stock worth $263,000 after purchasing an additional 31 shares during the last quarter. Trust Co. of Vermont grew its holdings in shares of Check Point Software Technologies by 2.2% in the second quarter. Trust Co. of Vermont now owns 1,814 shares of the technology company’s stock worth $198,000 after purchasing an additional 39 shares during the last quarter. Wetherby Asset Management Inc. grew its holdings in shares of Check Point Software Technologies by 0.8% in the second quarter. Wetherby Asset Management Inc. now owns 5,314 shares of the technology company’s stock worth $580,000 after purchasing an additional 41 shares during the last quarter. Independent Portfolio Consultants Inc. grew its holdings in shares of Check Point Software Technologies by 4.8% in the second quarter. Independent Portfolio Consultants Inc. now owns 3,485 shares of the technology company’s stock worth $380,000 after purchasing an additional 160 shares during the last quarter. Finally, Parallel Advisors LLC grew its holdings in shares of Check Point Software Technologies by 13.9% in the first quarter. Parallel Advisors LLC now owns 1,654 shares of the technology company’s stock worth $173,000 after purchasing an additional 202 shares during the last quarter. Institutional investors and hedge funds own 67.83% of the company’s stock.

CHKP has been the topic of several recent analyst reports. Cowen and Company restated a “buy” rating and issued a $113.00 target price on shares of Check Point Software Technologies in a report on Friday, July 21st. BidaskClub cut shares of Check Point Software Technologies from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 5th. Argus restated a “buy” rating and issued a $124.00 target price (up previously from $115.00) on shares of Check Point Software Technologies in a report on Tuesday, July 25th. Oppenheimer Holdings, Inc. restated a “buy” rating and issued a $128.00 target price on shares of Check Point Software Technologies in a report on Monday, October 2nd. Finally, Barclays PLC restated a “hold” rating and issued a $110.00 target price on shares of Check Point Software Technologies in a report on Sunday, July 23rd. Seventeen equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $111.56.

Check Point Software Technologies Ltd. (NASDAQ:CHKP) opened at 117.28 on Wednesday. Check Point Software Technologies Ltd. has a 12 month low of $74.34 and a 12 month high of $117.45. The firm’s 50-day moving average price is $112.28 and its 200 day moving average price is $109.14. The stock has a market cap of $19.16 billion, a price-to-earnings ratio of 26.02 and a beta of 0.72.

Check Point Software Technologies (NASDAQ:CHKP) last issued its quarterly earnings data on Thursday, July 20th. The technology company reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $0.04. Check Point Software Technologies had a return on equity of 22.02% and a net margin of 42.17%. The company had revenue of $458.60 million for the quarter, compared to the consensus estimate of $454.62 million. During the same quarter last year, the company earned $1.09 earnings per share. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. On average, analysts anticipate that Check Point Software Technologies Ltd. will post $5.18 earnings per share for the current year.

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Check Point Software Technologies Profile

Check Point Software Technologies Ltd. (Check point) develops, markets and supports a range of products and services for information technology (IT) security. The Company’s products and services are sold to enterprises, service providers, small and medium sized businesses and consumers. It offers enterprises a platform to deploy independent, modular and interoperable security applications (Software Blades), such as firewall, virtual private network (VPN), intrusion prevention system (IPS), Application Control, Anti-Bot, antivirus, data loss prevention (DLP), policy management, event analysis or multi-domain management.

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Institutional Ownership by Quarter for Check Point Software Technologies (NASDAQ:CHKP)

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