Wellington Management Group LLP Boosts Stock Position in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Wellington Management Group LLP raised its position in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 180.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,433 shares of the technology company’s stock after purchasing an additional 8,641 shares during the period. Wellington Management Group LLP’s holdings in Check Point Software Technologies were worth $2,590,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Bleakley Financial Group LLC lifted its stake in shares of Check Point Software Technologies by 3.3% during the third quarter. Bleakley Financial Group LLC now owns 1,797 shares of the technology company’s stock valued at $346,000 after buying an additional 57 shares during the period. Brighton Jones LLC lifted its stake in shares of Check Point Software Technologies by 5.2% during the 3rd quarter. Brighton Jones LLC now owns 1,337 shares of the technology company’s stock worth $258,000 after purchasing an additional 66 shares during the period. Patriot Financial Group Insurance Agency LLC boosted its holdings in shares of Check Point Software Technologies by 1.2% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 5,402 shares of the technology company’s stock worth $1,042,000 after purchasing an additional 66 shares during the last quarter. HF Advisory Group LLC grew its position in shares of Check Point Software Technologies by 1.2% in the third quarter. HF Advisory Group LLC now owns 6,061 shares of the technology company’s stock valued at $1,169,000 after purchasing an additional 73 shares during the period. Finally, Heritage Family Offices LLP increased its stake in Check Point Software Technologies by 1.6% in the third quarter. Heritage Family Offices LLP now owns 4,884 shares of the technology company’s stock valued at $942,000 after purchasing an additional 77 shares during the last quarter. 98.51% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CHKP has been the topic of a number of research analyst reports. Jefferies Financial Group raised their price target on Check Point Software Technologies from $210.00 to $225.00 and gave the stock a “buy” rating in a research note on Tuesday, September 24th. Needham & Company LLC restated a “hold” rating on shares of Check Point Software Technologies in a report on Wednesday, October 30th. Mizuho increased their price target on shares of Check Point Software Technologies from $178.00 to $205.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Barclays lowered their price objective on shares of Check Point Software Technologies from $210.00 to $200.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 29th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $187.00 target price on shares of Check Point Software Technologies in a research report on Wednesday, October 30th. Fifteen investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $197.74.

Check Point Software Technologies Price Performance

Shares of CHKP stock opened at $187.71 on Wednesday. Check Point Software Technologies Ltd. has a 12 month low of $145.75 and a 12 month high of $210.70. The firm has a market capitalization of $20.64 billion, a P/E ratio of 25.64, a P/E/G ratio of 3.21 and a beta of 0.63. The company’s fifty day moving average price is $187.89 and its two-hundred day moving average price is $181.48.

Check Point Software Technologies (NASDAQ:CHKP) last issued its quarterly earnings data on Tuesday, October 29th. The technology company reported $2.25 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.25. Check Point Software Technologies had a return on equity of 31.84% and a net margin of 33.17%. The firm had revenue of $635.10 million during the quarter, compared to analyst estimates of $634.96 million. During the same quarter last year, the firm earned $1.80 EPS. Check Point Software Technologies’s quarterly revenue was up 6.5% on a year-over-year basis. On average, sell-side analysts anticipate that Check Point Software Technologies Ltd. will post 7.87 EPS for the current 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.