Suncoast Equity Management Grows Stock Position in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Suncoast Equity Management boosted its position in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 6.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,770 shares of the technology company’s stock after buying an additional 365 shares during the period. Suncoast Equity Management’s holdings in Check Point Software Technologies were worth $1,077,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Meitav Investment House Ltd. boosted its holdings in shares of Check Point Software Technologies by 11.2% in the fourth quarter. Meitav Investment House Ltd. now owns 196,267 shares of the technology company’s stock valued at $36,618,000 after acquiring an additional 19,818 shares in the last quarter. Handelsbanken Fonder AB lifted its position in Check Point Software Technologies by 8.6% in the fourth quarter. Handelsbanken Fonder AB now owns 23,307 shares of the technology company’s stock valued at $4,351,000 after purchasing an additional 1,838 shares during the period. Global Retirement Partners LLC boosted its holdings in Check Point Software Technologies by 10.1% in the 4th quarter. Global Retirement Partners LLC now owns 10,260 shares of the technology company’s stock valued at $1,916,000 after purchasing an additional 944 shares in the last quarter. Kestra Investment Management LLC acquired a new position in Check Point Software Technologies during the 4th quarter worth approximately $336,000. Finally, Atria Wealth Solutions Inc. raised its stake in shares of Check Point Software Technologies by 42.8% during the 4th quarter. Atria Wealth Solutions Inc. now owns 4,161 shares of the technology company’s stock worth $777,000 after buying an additional 1,247 shares in the last quarter. 98.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CHKP. Bank of America downgraded Check Point Software Technologies from a “buy” rating to a “neutral” rating and decreased their price target for the company from $205.00 to $195.00 in a research note on Wednesday, October 30th. Evercore ISI boosted their target price on shares of Check Point Software Technologies from $180.00 to $185.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. Needham & Company LLC reiterated a “hold” rating on shares of Check Point Software Technologies in a report on Friday, January 31st. JPMorgan Chase & Co. raised their price objective on shares of Check Point Software Technologies from $207.00 to $221.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Finally, Jefferies Financial Group upped their target price on shares of Check Point Software Technologies from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Nineteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $215.59.

Check Point Software Technologies Price Performance

Shares of NASDAQ CHKP opened at $218.75 on Friday. The company has a 50-day simple moving average of $197.07 and a 200-day simple moving average of $191.46. The company has a market cap of $24.06 billion, a PE ratio of 29.28, a price-to-earnings-growth ratio of 3.43 and a beta of 0.65. Check Point Software Technologies Ltd. has a 12 month low of $145.75 and a 12 month high of $226.02.

Check Point Software Technologies Company 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.