abrdn plc Increases Position in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

abrdn plc raised its position in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 93.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 33,747 shares of the technology company’s stock after purchasing an additional 16,313 shares during the period. abrdn plc’s holdings in Check Point Software Technologies were worth $5,156,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. BSW Wealth Partners grew its position in shares of Check Point Software Technologies by 3.7% in the 4th quarter. BSW Wealth Partners now owns 2,162 shares of the technology company’s stock valued at $330,000 after buying an additional 78 shares during the last quarter. Pacer Advisors Inc. grew its position in shares of Check Point Software Technologies by 6.9% in the 4th quarter. Pacer Advisors Inc. now owns 1,383 shares of the technology company’s stock valued at $211,000 after buying an additional 89 shares during the last quarter. Dark Forest Capital Management LP grew its position in shares of Check Point Software Technologies by 2.1% in the 3rd quarter. Dark Forest Capital Management LP now owns 5,126 shares of the technology company’s stock valued at $683,000 after buying an additional 103 shares during the last quarter. Brookstone Capital Management boosted its stake in Check Point Software Technologies by 1.7% during the 4th quarter. Brookstone Capital Management now owns 6,175 shares of the technology company’s stock worth $943,000 after purchasing an additional 103 shares during the period. Finally, Industrial Alliance Investment Management Inc. boosted its stake in Check Point Software Technologies by 8.4% during the 3rd quarter. Industrial Alliance Investment Management Inc. now owns 1,386 shares of the technology company’s stock worth $185,000 after purchasing an additional 107 shares during the period. 87.62% of the stock is owned by hedge funds and other institutional investors.

Check Point Software Technologies Trading Down 1.1 %

NASDAQ:CHKP opened at $151.20 on Friday. The firm has a 50-day moving average price of $161.41 and a two-hundred day moving average price of $153.01. Check Point Software Technologies Ltd. has a twelve month low of $117.18 and a twelve month high of $168.82. The company has a market capitalization of $18.26 billion, a P/E ratio of 21.00, a price-to-earnings-growth ratio of 2.48 and a beta of 0.61.

Check Point Software Technologies (NASDAQ:CHKP) last posted its earnings results on Thursday, April 25th. The technology company reported $1.72 earnings per share for the quarter, meeting the consensus estimate of $1.72. Check Point Software Technologies had a net margin of 34.33% and a return on equity of 31.30%. The firm had revenue of $598.80 million during the quarter, compared to the consensus estimate of $595.28 million. On average, equities research analysts predict that Check Point Software Technologies Ltd. will post 7.85 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Check Point Software Technologies in a research note on Friday. Royal Bank of Canada increased their price target on shares of Check Point Software Technologies from $159.00 to $165.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 7th. UBS Group increased their price target on shares of Check Point Software Technologies from $140.00 to $170.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 10th. Truist Financial increased their price target on shares of Check Point Software Technologies from $170.00 to $175.00 and gave the stock a “buy” rating in a research note on Wednesday, February 7th. Finally, BMO Capital Markets raised their target price on shares of Check Point Software Technologies from $175.00 to $185.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 7th. Thirteen investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $164.00.

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.