Check Point Software Technologies Ltd. (NASDAQ:CHKP) Shares Acquired by Fifth Third Bancorp

Fifth Third Bancorp grew its stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 96.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,064 shares of the technology company’s stock after purchasing an additional 523 shares during the period. Fifth Third Bancorp’s holdings in Check Point Software Technologies were worth $243,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Assenagon Asset Management S.A. grew its holdings in Check Point Software Technologies by 184.4% during the first quarter. Assenagon Asset Management S.A. now owns 57,690 shares of the technology company’s stock worth $13,149,000 after acquiring an additional 37,407 shares during the period. Integrated Advisors Network LLC grew its holdings in Check Point Software Technologies by 15.2% during the first quarter. Integrated Advisors Network LLC now owns 1,248 shares of the technology company’s stock worth $284,000 after acquiring an additional 165 shares during the period. Moseley Investment Management Inc. acquired a new position in Check Point Software Technologies during the first quarter worth $226,000. City Holding Co. grew its holdings in Check Point Software Technologies by 15.6% during the first quarter. City Holding Co. now owns 7,008 shares of the technology company’s stock worth $1,597,000 after acquiring an additional 948 shares during the period. Finally, Daymark Wealth Partners LLC acquired a new position in Check Point Software Technologies during the first quarter worth $452,000. Institutional investors and hedge funds own 98.51% of the company’s stock.

Check Point Software Technologies Price Performance

Shares of NASDAQ:CHKP opened at $218.42 on Thursday. Check Point Software Technologies Ltd. has a 12 month low of $153.88 and a 12 month high of $234.36. The firm has a market capitalization of $24.02 billion, a PE ratio of 28.82, a P/E/G ratio of 3.13 and a beta of 0.66. The business has a 50-day moving average of $220.10 and a two-hundred day moving average of $211.00.

Check Point Software Technologies (NASDAQ:CHKP) last posted its earnings results on Wednesday, April 23rd. The technology company reported $2.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.19 by $0.02. Check Point Software Technologies had a return on equity of 32.88% and a net margin of 32.75%. The business had revenue of $637.80 million during the quarter, compared to analyst estimates of $635.80 million. During the same quarter last year, the firm earned $2.04 earnings per share. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. As a group, research analysts anticipate that Check Point Software Technologies Ltd. will post 8.61 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CHKP. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $215.00 price objective on shares of Check Point Software Technologies in a report on Thursday, February 27th. JPMorgan Chase & Co. raised Check Point Software Technologies from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $221.00 to $255.00 in a report on Wednesday, February 26th. Scotiabank dropped their price objective on Check Point Software Technologies from $250.00 to $240.00 and set a “sector outperform” rating on the stock in a report on Thursday, April 24th. Stephens dropped their price objective on Check Point Software Technologies from $255.00 to $229.00 and set an “equal weight” rating on the stock in a report on Thursday, April 24th. Finally, Jefferies Financial Group boosted their target price on Check Point Software Technologies from $250.00 to $255.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. 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. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $232.44.

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.