City Holding Co. Grows Stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

City Holding Co. grew its holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 12.8% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 4,580 shares of the technology company’s stock after acquiring an additional 520 shares during the quarter. City Holding Co.’s holdings in Check Point Software Technologies were worth $751,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Assenagon Asset Management S.A. increased its holdings in shares of Check Point Software Technologies by 52.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 55,681 shares of the technology company’s stock valued at $8,508,000 after acquiring an additional 19,111 shares during the last quarter. Prime Capital Investment Advisors LLC purchased a new position in shares of Check Point Software Technologies in the 4th quarter valued at about $1,505,000. Unique Wealth Strategies LLC purchased a new position in shares of Check Point Software Technologies in the 4th quarter valued at about $1,005,000. Tritonpoint Wealth LLC purchased a new position in shares of Check Point Software Technologies in the 4th quarter valued at about $2,586,000. Finally, Heritage Wealth Management LLC purchased a new position in shares of Check Point Software Technologies in the 4th quarter valued at about $904,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on CHKP shares. Stifel Nicolaus dropped their price objective on Check Point Software Technologies from $170.00 to $165.00 and set a “hold” rating on the stock in a report on Friday, April 26th. Wedbush restated an “outperform” rating and set a $185.00 price target on shares of Check Point Software Technologies in a research note on Friday, April 26th. Needham & Company LLC restated a “hold” rating on shares of Check Point Software Technologies in a research note on Friday, April 26th. TD Cowen raised their price target on Check Point Software Technologies from $180.00 to $205.00 and gave the stock an “outperform” rating in a research note on Monday, March 18th. Finally, Barclays raised their price target on Check Point Software Technologies from $170.00 to $175.00 and gave the stock an “equal weight” rating in a research note on Friday, April 26th. Thirteen investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Check Point Software Technologies has an average rating of “Hold” and a consensus target price of $169.18.

Check Point Software Technologies Trading Down 0.2 %

Shares of CHKP traded down $0.25 during mid-day trading on Monday, hitting $158.60. The company’s stock had a trading volume of 17,080 shares, compared to its average volume of 699,488. The firm has a 50-day simple moving average of $154.01 and a 200 day simple moving average of $157.01. The firm has a market capitalization of $17.91 billion, a P/E ratio of 22.00, a P/E/G ratio of 2.50 and a beta of 0.61. Check Point Software Technologies Ltd. has a 1-year low of $122.86 and a 1-year high of $168.82.

Check Point Software Technologies (NASDAQ:CHKP) last posted its quarterly earnings results on Thursday, April 25th. The technology company reported $1.72 EPS for the quarter, meeting the consensus estimate of $1.72. The business had revenue of $598.80 million during the quarter, compared to analysts’ expectations of $595.28 million. Check Point Software Technologies had a return on equity of 31.42% and a net margin of 34.33%. As a group, sell-side analysts predict that Check Point Software Technologies Ltd. will post 7.79 EPS for the current fiscal year.

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.