RMR Wealth Builders Makes New $293,000 Investment in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

RMR Wealth Builders purchased a new stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 1,285 shares of the technology company's stock, valued at approximately $293,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. NorthCrest Asset Manangement LLC grew its stake in Check Point Software Technologies by 0.5% in the 1st quarter. NorthCrest Asset Manangement LLC now owns 73,335 shares of the technology company's stock worth $16,715,000 after acquiring an additional 372 shares in the last quarter. Fifth Third Bancorp grew its position in shares of Check Point Software Technologies by 96.7% during the 1st quarter. Fifth Third Bancorp now owns 1,064 shares of the technology company's stock worth $243,000 after buying an additional 523 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Check Point Software Technologies by 184.4% during the first quarter. Assenagon Asset Management S.A. now owns 57,690 shares of the technology company's stock valued at $13,149,000 after buying an additional 37,407 shares during the period. Integrated Advisors Network LLC raised its holdings in shares of Check Point Software Technologies by 15.2% in the first quarter. Integrated Advisors Network LLC now owns 1,248 shares of the technology company's stock valued at $284,000 after acquiring an additional 165 shares in the last quarter. Finally, Moseley Investment Management Inc. purchased a new stake in Check Point Software Technologies in the first quarter worth about $226,000. Hedge funds and other institutional investors own 98.51% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on CHKP shares. Wells Fargo & Company cut their price objective on shares of Check Point Software Technologies from $280.00 to $265.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $215.00 price target on shares of Check Point Software Technologies in a research report on Thursday, February 27th. JPMorgan Chase & Co. upgraded shares of Check Point Software Technologies from a "neutral" rating to an "overweight" rating and increased their price objective for the stock from $221.00 to $255.00 in a research note on Wednesday, February 26th. Jefferies Financial Group upped their price objective on Check Point Software Technologies from $250.00 to $255.00 and gave the stock a "buy" rating in a research report on Thursday, February 27th. Finally, Morgan Stanley dropped their price target on shares of Check Point Software Technologies from $235.00 to $220.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. Sixteen investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong 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 $232.04.

Check Point Software Technologies Trading Down 1.8%

Shares of CHKP traded down $4.02 during midday trading on Friday, reaching $218.93. The stock had a trading volume of 1,057,939 shares, compared to its average volume of 786,150. The firm has a 50 day simple moving average of $219.86 and a 200-day simple moving average of $210.21. The firm has a market cap of $24.08 billion, a PE ratio of 29.31, a P/E/G ratio of 3.41 and a beta of 0.66. Check Point Software Technologies Ltd. has a one year low of $153.88 and a one year high of $234.36.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The technology company reported $2.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.19 by $0.02. The firm had revenue of $637.80 million during the quarter, compared to the consensus estimate of $635.80 million. Check Point Software Technologies had a net margin of 32.97% and a return on equity of 32.40%. The business's revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period last year, the business posted $2.04 earnings per share. As a group, research analysts forecast that Check Point Software Technologies Ltd. will post 8.61 EPS for the current fiscal year.

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.