Sequoia Financial Advisors LLC Increases Holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Sequoia Financial Advisors LLC increased its holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 15.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,842 shares of the technology company’s stock after purchasing an additional 653 shares during the period. Sequoia Financial Advisors LLC’s holdings in Check Point Software Technologies were worth $740,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CHKP. Concord Wealth Partners purchased a new position in shares of Check Point Software Technologies in the third quarter worth $25,000. CNB Bank purchased a new stake in Check Point Software Technologies in the 3rd quarter worth $27,000. Resurgent Financial Advisors LLC purchased a new stake in Check Point Software Technologies in the 4th quarter worth $28,000. Bruce G. Allen Investments LLC bought a new position in shares of Check Point Software Technologies during the 4th quarter valued at about $30,000. Finally, Salem Investment Counselors Inc. grew its position in shares of Check Point Software Technologies by 483.7% during the fourth quarter. Salem Investment Counselors Inc. now owns 286 shares of the technology company’s stock valued at $44,000 after purchasing an additional 237 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors.

Check Point Software Technologies Stock Performance

Check Point Software Technologies stock opened at $157.63 on Tuesday. The company has a market capitalization of $19.04 billion, a PE ratio of 22.14, a P/E/G ratio of 2.62 and a beta of 0.61. The company has a 50 day moving average price of $162.56 and a 200-day moving average price of $151.69. Check Point Software Technologies Ltd. has a fifty-two week low of $117.18 and a fifty-two week high of $168.82.

Check Point Software Technologies (NASDAQ:CHKP) last issued its earnings results on Tuesday, February 6th. The technology company reported $2.57 earnings per share for the quarter, beating analysts’ consensus estimates of $2.47 by $0.10. Check Point Software Technologies had a return on equity of 30.81% and a net margin of 34.80%. The business had revenue of $663.50 million during the quarter, compared to analyst estimates of $662.09 million. During the same period in the previous year, the company posted $2.23 EPS. Check Point Software Technologies’s revenue was up 3.9% on a year-over-year basis. On average, analysts forecast that Check Point Software Technologies Ltd. will post 7.85 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have issued reports on CHKP shares. UBS Group lifted their price objective on Check Point Software Technologies from $140.00 to $170.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 10th. Citigroup increased their price objective on shares of Check Point Software Technologies from $140.00 to $155.00 and gave the company a “neutral” rating in a research report on Wednesday, January 10th. Wedbush restated an “outperform” rating and issued a $185.00 target price on shares of Check Point Software Technologies in a report on Wednesday, April 10th. William Blair raised shares of Check Point Software Technologies from a “market perform” rating to an “outperform” rating in a report on Wednesday, January 31st. Finally, Wells Fargo & Company boosted their price objective on Check Point Software Technologies from $132.00 to $162.00 and gave the stock an “equal weight” rating in a research note on Monday, January 29th. Thirteen investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $159.70.

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.