Allred Capital Management LLC Purchases New Position in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Allred Capital Management LLC purchased a new stake in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund purchased 2,898 shares of the technology company’s stock, valued at approximately $541,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. World Investment Advisors grew its holdings in Check Point Software Technologies by 4.4% during the fourth quarter. World Investment Advisors now owns 30,041 shares of the technology company’s stock worth $5,609,000 after buying an additional 1,278 shares in the last quarter. Truist Financial Corp grew its stake in shares of Check Point Software Technologies by 2.6% in the 4th quarter. Truist Financial Corp now owns 119,504 shares of the technology company’s stock worth $22,311,000 after acquiring an additional 3,080 shares in the last quarter. Vestmark Advisory Solutions Inc. raised its holdings in shares of Check Point Software Technologies by 99.3% in the fourth quarter. Vestmark Advisory Solutions Inc. now owns 4,973 shares of the technology company’s stock valued at $928,000 after purchasing an additional 2,478 shares during the last quarter. Hickory Asset Management Inc. purchased a new stake in shares of Check Point Software Technologies in the fourth quarter valued at about $476,000. Finally, Assetmark Inc. lifted its position in shares of Check Point Software Technologies by 44.1% during the fourth quarter. Assetmark Inc. now owns 140,943 shares of the technology company’s stock valued at $26,314,000 after purchasing an additional 43,165 shares in the last quarter. 98.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Royal Bank of Canada reiterated a “sector perform” rating and issued a $215.00 price objective on shares of Check Point Software Technologies in a research note on Thursday, February 27th. Wells Fargo & Company upgraded Check Point Software Technologies from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $200.00 to $280.00 in a report on Friday, March 14th. JPMorgan Chase & Co. raised Check Point Software Technologies from a “neutral” rating to an “overweight” rating and raised their target price for the company from $221.00 to $255.00 in a research report on Wednesday, February 26th. Arete Research raised shares of Check Point Software Technologies to a “hold” rating in a report on Monday, February 24th. Finally, Jefferies Financial Group raised their price objective on shares of Check Point Software Technologies from $250.00 to $255.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Fifteen research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Check Point Software Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $235.50.

Check Point Software Technologies Price Performance

CHKP stock opened at $214.96 on Friday. The firm has a 50 day simple moving average of $221.79 and a two-hundred day simple moving average of $201.32. The stock has a market cap of $23.64 billion, a PE ratio of 28.78, a P/E/G ratio of 3.41 and a beta of 0.62. Check Point Software Technologies Ltd. has a one year low of $145.75 and a one year high of $234.36.

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.