Suncoast Equity Management Boosts Holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Suncoast Equity Management increased its stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 6.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,770 shares of the technology company’s stock after acquiring an additional 365 shares during the period. Suncoast Equity Management’s holdings in Check Point Software Technologies were worth $1,077,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of CHKP. FSA Wealth Management LLC acquired a new position in Check Point Software Technologies in the third quarter valued at $27,000. GAMMA Investing LLC raised its stake in shares of Check Point Software Technologies by 53.1% in the 4th quarter. GAMMA Investing LLC now owns 173 shares of the technology company’s stock valued at $32,000 after acquiring an additional 60 shares during the period. Golden State Wealth Management LLC purchased a new stake in Check Point Software Technologies during the 4th quarter worth $35,000. Strategic Financial Concepts LLC purchased a new stake in shares of Check Point Software Technologies in the fourth quarter worth about $35,000. Finally, Concord Wealth Partners acquired a new stake in shares of Check Point Software Technologies in the third quarter valued at about $37,000. 98.51% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CHKP has been the subject of a number of analyst reports. Scotiabank increased their price objective on shares of Check Point Software Technologies from $215.00 to $250.00 and gave the company a “sector outperform” rating in a research report on Friday, January 31st. Stifel Nicolaus boosted their price objective on shares of Check Point Software Technologies from $190.00 to $220.00 and gave the stock a “hold” rating in a report on Friday, January 31st. Barclays raised their target price on Check Point Software Technologies from $200.00 to $230.00 and gave the company an “equal weight” rating in a research note on Thursday, January 30th. BMO Capital Markets upped their target price on Check Point Software Technologies from $215.00 to $245.00 and gave the company a “market perform” rating in a research report on Monday, February 3rd. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $200.00 price target on shares of Check Point Software Technologies in a research report on Monday, January 27th. Nineteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $215.59.

Check Point Software Technologies Trading Down 1.9 %

NASDAQ:CHKP opened at $218.75 on Friday. The firm has a market capitalization of $24.06 billion, a PE ratio of 29.28, a price-to-earnings-growth ratio of 3.43 and a beta of 0.65. The stock has a 50 day moving average of $197.07 and a 200-day moving average of $191.46. Check Point Software Technologies Ltd. has a 52 week low of $145.75 and a 52 week high of $226.02.

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.