Cetera Investment Advisers Purchases 917 Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Cetera Investment Advisers raised its position in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 1.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 63,528 shares of the technology company’s stock after acquiring an additional 917 shares during the period. Cetera Investment Advisers’ holdings in Check Point Software Technologies were worth $11,861,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of CHKP. Norges Bank bought a new position in Check Point Software Technologies during the fourth quarter worth about $428,820,000. Clearbridge Investments LLC acquired a new stake in Check Point Software Technologies in the 4th quarter valued at $100,456,000. Causeway Capital Management LLC grew its position in Check Point Software Technologies by 33.8% in the fourth quarter. Causeway Capital Management LLC now owns 1,929,604 shares of the technology company’s stock valued at $360,257,000 after acquiring an additional 487,823 shares during the period. Altshuler Shaham Ltd acquired a new position in Check Point Software Technologies during the fourth quarter worth $73,186,000. Finally, First Trust Advisors LP lifted its holdings in shares of Check Point Software Technologies by 17.4% during the fourth quarter. First Trust Advisors LP now owns 1,822,787 shares of the technology company’s stock valued at $340,314,000 after acquiring an additional 269,925 shares during the period. Institutional investors own 98.51% of the company’s stock.

Analysts Set New Price Targets

CHKP has been the subject of several analyst reports. Roth Capital initiated coverage on shares of Check Point Software Technologies in a report on Wednesday, April 23rd. They set a “neutral” rating and a $215.00 price target for the company. Stephens cut their target price on shares of Check Point Software Technologies from $255.00 to $229.00 and set an “equal weight” rating for the company in a research note on Thursday, April 24th. UBS Group increased their price target on Check Point Software Technologies from $200.00 to $230.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Piper Sandler upgraded Check Point Software Technologies from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $220.00 to $260.00 in a research report on Monday, March 3rd. Finally, Guggenheim restated a “neutral” rating on shares of Check Point Software Technologies in a report on Friday, January 31st. Eighteen analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Check Point Software Technologies presently has a consensus rating of “Hold” and an average target price of $232.04.

Check Point Software Technologies Price Performance

Check Point Software Technologies stock opened at $217.59 on Friday. Check Point Software Technologies Ltd. has a fifty-two week low of $145.75 and a fifty-two week high of $234.36. The firm has a market capitalization of $23.93 billion, a price-to-earnings ratio of 29.13, a PEG ratio of 3.41 and a beta of 0.66. The company’s 50 day simple moving average is $220.18 and its 200 day simple moving average is $202.75.

Check Point Software Technologies (NASDAQ:CHKP) last announced its quarterly earnings results on Wednesday, April 23rd. The technology company reported $2.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.19 by $0.02. The company had revenue of $637.80 million during the quarter, compared to analyst estimates of $635.80 million. Check Point Software Technologies had a net margin of 32.97% and a return on equity of 32.40%. The firm’s revenue was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.04 EPS. As a group, analysts predict that Check Point Software Technologies Ltd. will post 8.61 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.