City Holding Co. Increases Position in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

City Holding Co. raised its holdings in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 30.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,980 shares of the technology company’s stock after buying an additional 1,400 shares during the period. City Holding Co.’s holdings in Check Point Software Technologies were worth $987,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. DAVENPORT & Co LLC purchased a new stake in shares of Check Point Software Technologies in the fourth quarter valued at approximately $240,000. Stratos Wealth Partners LTD. purchased a new stake in shares of Check Point Software Technologies in the fourth quarter valued at approximately $212,000. Nisa Investment Advisors LLC boosted its holdings in shares of Check Point Software Technologies by 36.1% in the fourth quarter. Nisa Investment Advisors LLC now owns 13,890 shares of the technology company’s stock valued at $2,122,000 after purchasing an additional 3,685 shares during the period. International Assets Investment Management LLC purchased a new stake in shares of Check Point Software Technologies in the fourth quarter valued at approximately $47,160,000. Finally, Sequoia Financial Advisors LLC boosted its holdings in shares of Check Point Software Technologies by 15.6% in the fourth quarter. Sequoia Financial Advisors LLC now owns 4,842 shares of the technology company’s stock valued at $740,000 after purchasing an additional 653 shares during the period. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Check Point Software Technologies Stock Performance

Shares of NASDAQ CHKP traded up $4.88 during mid-day trading on Friday, hitting $184.39. The stock had a trading volume of 558,750 shares, compared to its average volume of 713,352. The company has a 50 day moving average of $167.58 and a two-hundred day moving average of $161.81. Check Point Software Technologies Ltd. has a twelve month low of $126.57 and a twelve month high of $186.75. The firm has a market cap of $20.82 billion, a PE ratio of 25.61, a PEG ratio of 2.84 and a beta of 0.62.

Check Point Software Technologies (NASDAQ:CHKP) last released its earnings results on Wednesday, July 24th. The technology company reported $2.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.16 by $0.01. Check Point Software Technologies had a return on equity of 31.59% and a net margin of 33.61%. The firm had revenue of $627.40 million for the quarter, compared to the consensus estimate of $623.19 million. During the same period in the prior year, the firm earned $1.74 EPS. The firm’s revenue was up 6.6% on a year-over-year basis. Equities research analysts predict that Check Point Software Technologies Ltd. will post 7.83 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CHKP. Susquehanna boosted their price target on Check Point Software Technologies from $200.00 to $215.00 and gave the company a “positive” rating in a report on Thursday, July 25th. BMO Capital Markets upped their target price on Check Point Software Technologies from $180.00 to $200.00 and gave the stock a “market perform” rating in a report on Thursday, July 25th. JPMorgan Chase & Co. upped their target price on Check Point Software Technologies from $175.00 to $180.00 and gave the stock a “neutral” rating in a report on Thursday, July 25th. Barclays upped their target price on Check Point Software Technologies from $175.00 to $192.00 and gave the stock an “equal weight” rating in a report on Thursday, July 25th. Finally, Stifel Nicolaus lowered their target price on Check Point Software Technologies from $170.00 to $165.00 and set a “hold” rating for the company in a report on Friday, April 26th. Fifteen equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $183.68.

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.