First Financial Bank Trust Division Increases Stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

First Financial Bank Trust Division raised its holdings in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 29.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 36,371 shares of the technology company’s stock after buying an additional 8,236 shares during the period. First Financial Bank Trust Division’s holdings in Check Point Software Technologies were worth $7,013,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CHKP. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Check Point Software Technologies in the second quarter worth $30,000. Concord Wealth Partners purchased a new stake in shares of Check Point Software Technologies in the first quarter worth $31,000. Richardson Financial Services Inc. purchased a new stake in shares of Check Point Software Technologies in the fourth quarter worth $33,000. Transcendent Capital Group LLC purchased a new stake in shares of Check Point Software Technologies in the first quarter worth $107,000. Finally, Alaska Permanent Fund Corp purchased a new stake in shares of Check Point Software Technologies in the first quarter worth $117,000. 87.62% of the stock is owned by hedge funds and other institutional investors.

Check Point Software Technologies Price Performance

Shares of CHKP opened at $191.19 on Thursday. Check Point Software Technologies Ltd. has a 1-year low of $126.57 and a 1-year high of $196.56. The company has a 50-day moving average of $187.77 and a 200 day moving average of $169.52. The firm has a market capitalization of $21.59 billion, a price-to-earnings ratio of 26.55, a PEG ratio of 3.05 and a beta of 0.62.

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

Analyst Upgrades and Downgrades

CHKP has been the subject of a number of analyst reports. Barclays increased their price objective on shares of Check Point Software Technologies from $175.00 to $192.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 25th. Jefferies Financial Group raised their target price on shares of Check Point Software Technologies from $210.00 to $225.00 and gave the company a “buy” rating in a research note on Tuesday, September 24th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Check Point Software Technologies from $175.00 to $185.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. JPMorgan Chase & Co. raised their target price on shares of Check Point Software Technologies from $175.00 to $180.00 and gave the company a “neutral” rating in a research note on Thursday, July 25th. Finally, Evercore ISI raised shares of Check Point Software Technologies to a “hold” rating in a research note on Monday, September 16th. Sixteen equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $184.47.

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.