Fifth Third Wealth Advisors LLC Makes New Investment in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Fifth Third Wealth Advisors LLC purchased a new stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 1,105 shares of the technology company’s stock, valued at approximately $206,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CHKP. Signal Advisors Wealth LLC boosted its position in Check Point Software Technologies by 5.6% during the fourth quarter. Signal Advisors Wealth LLC now owns 2,087 shares of the technology company’s stock valued at $390,000 after acquiring an additional 110 shares during the last quarter. Miracle Mile Advisors LLC boosted its position in shares of Check Point Software Technologies by 3.6% during the fourth quarter. Miracle Mile Advisors LLC now owns 2,498 shares of the technology company’s stock valued at $466,000 after buying an additional 86 shares during the last quarter. Claro Advisors LLC purchased a new position in shares of Check Point Software Technologies during the fourth quarter valued at approximately $260,000. City State Bank purchased a new stake in shares of Check Point Software Technologies in the fourth quarter valued at about $154,000. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in shares of Check Point Software Technologies by 13.5% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 5,667 shares of the technology company’s stock worth $1,093,000 after buying an additional 675 shares during the last quarter. 98.51% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CHKP has been the topic of several research analyst reports. Bank of America downgraded Check Point Software Technologies from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $205.00 to $195.00 in a research note on Wednesday, October 30th. Piper Sandler boosted their price objective on Check Point Software Technologies from $185.00 to $195.00 and gave the stock a “neutral” rating in a report on Monday, January 6th. Evercore ISI increased their price objective on Check Point Software Technologies from $180.00 to $185.00 and gave the company an “in-line” rating in a research report on Wednesday, October 30th. Needham & Company LLC restated a “hold” rating on shares of Check Point Software Technologies in a research report on Wednesday, October 30th. Finally, Jefferies Financial Group boosted their target price on Check Point Software Technologies from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Seventeen research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $202.33.

Check Point Software Technologies Stock Performance

CHKP stock opened at $187.87 on Friday. Check Point Software Technologies Ltd. has a 52-week low of $145.75 and a 52-week high of $210.70. The firm has a market capitalization of $20.66 billion, a price-to-earnings ratio of 25.67, a PEG ratio of 2.86 and a beta of 0.63. The firm has a 50 day moving average price of $183.98 and a 200-day moving average price of $185.73.

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