Vident Advisory LLC Increases Stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Vident Advisory LLC lifted its holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 32.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 109,417 shares of the technology company's stock after buying an additional 27,036 shares during the quarter. Vident Advisory LLC owned approximately 0.10% of Check Point Software Technologies worth $20,428,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CHKP. Nemes Rush Group LLC bought a new position in Check Point Software Technologies in the 4th quarter worth about $25,000. Golden State Wealth Management LLC bought a new position in Check Point Software Technologies in the 4th quarter worth about $35,000. Strategic Financial Concepts LLC bought a new position in Check Point Software Technologies in the 4th quarter worth about $35,000. Quarry LP boosted its stake in Check Point Software Technologies by 100.0% in the 4th quarter. Quarry LP now owns 206 shares of the technology company's stock worth $38,000 after purchasing an additional 103 shares in the last quarter. Finally, Exchange Traded Concepts LLC boosted its stake in Check Point Software Technologies by 142.7% in the 4th quarter. Exchange Traded Concepts LLC now owns 233 shares of the technology company's stock worth $44,000 after purchasing an additional 137 shares in the last quarter. 98.51% of the stock is owned by hedge funds and other institutional investors.

Check Point Software Technologies Trading Up 1.8%

NASDAQ CHKP traded up $3.91 on Thursday, reaching $224.86. 730,820 shares of the stock were exchanged, compared to its average volume of 780,977. Check Point Software Technologies Ltd. has a one year low of $145.75 and a one year high of $234.36. The firm has a market capitalization of $24.73 billion, a PE ratio of 30.10, a PEG ratio of 3.41 and a beta of 0.66. The company's 50-day simple moving average is $219.47 and its two-hundred day simple moving average is $204.32.

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

Analyst Upgrades and Downgrades

Several research firms have issued reports on CHKP. Piper Sandler upgraded shares of Check Point Software Technologies from a "neutral" rating to an "overweight" rating and upped their target price for the company from $220.00 to $260.00 in a research note on Monday, March 3rd. Stifel Nicolaus upped their target price on shares of Check Point Software Technologies from $190.00 to $220.00 and gave the company a "hold" rating in a research note on Friday, January 31st. UBS Group upped their target price on shares of Check Point Software Technologies from $200.00 to $230.00 and gave the company a "neutral" rating in a research note on Friday, January 31st. Wall Street Zen upgraded shares of Check Point Software Technologies from a "hold" rating to a "buy" rating in a research note on Tuesday, May 13th. Finally, Barclays upped their target price on shares of 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. Sixteen research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Check Point Software Technologies presently has an average rating of "Hold" and an average price target of $232.04.

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.