Wealth Enhancement Advisory Services LLC Boosts Stock Holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Wealth Enhancement Advisory Services LLC increased its stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 149.7% during the first quarter, according to its most recent filing with the SEC. The fund owned 12,827 shares of the technology company’s stock after buying an additional 7,691 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Check Point Software Technologies were worth $2,924,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. RMR Wealth Builders purchased a new position in shares of Check Point Software Technologies in the 1st quarter worth about $293,000. NorthCrest Asset Manangement LLC boosted its holdings in shares of Check Point Software Technologies by 0.5% in the 1st quarter. NorthCrest Asset Manangement LLC now owns 73,335 shares of the technology company’s stock worth $16,715,000 after buying an additional 372 shares during the last quarter. Fifth Third Bancorp boosted its holdings in shares of Check Point Software Technologies by 96.7% in the 1st quarter. Fifth Third Bancorp now owns 1,064 shares of the technology company’s stock worth $243,000 after buying an additional 523 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in Check Point Software Technologies by 184.4% in the 1st quarter. Assenagon Asset Management S.A. now owns 57,690 shares of the technology company’s stock valued at $13,149,000 after acquiring an additional 37,407 shares during the period. Finally, Integrated Advisors Network LLC lifted 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 valued at $284,000 after purchasing an additional 165 shares during the last quarter. 98.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on CHKP. Scotiabank dropped their price objective on shares of 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. Piper Sandler raised shares of Check Point Software Technologies from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $220.00 to $260.00 in a report on Monday, March 3rd. Wells Fargo & Company dropped their price objective on shares of Check Point Software Technologies from $280.00 to $265.00 and set an “overweight” rating on the stock in a report on Thursday, April 24th. Wedbush reaffirmed an “outperform” rating and set a $240.00 price objective on shares of Check Point Software Technologies in a report on Thursday, April 24th. Finally, Morgan Stanley decreased their price target on Check Point Software Technologies from $235.00 to $220.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 16th. Sixteen analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $232.44.

Check Point Software Technologies Stock Performance

NASDAQ:CHKP opened at $216.45 on Friday. The firm has a market cap of $23.81 billion, a PE ratio of 28.56, a price-to-earnings-growth ratio of 3.13 and a beta of 0.66. Check Point Software Technologies Ltd. has a fifty-two week low of $163.01 and a fifty-two week high of $234.36. The business has a 50 day moving average price of $220.36 and a 200-day moving average price of $212.55.

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