Man Group plc raised its position in Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 33.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 107,759 shares of the technology company's stock after purchasing an additional 27,168 shares during the quarter. Man Group plc owned 0.10% of Check Point Software Technologies worth $20,119,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. World Investment Advisors grew its holdings in Check Point Software Technologies by 4.4% in the fourth quarter. World Investment Advisors now owns 30,041 shares of the technology company's stock worth $5,609,000 after purchasing an additional 1,278 shares during the last quarter. Crux Wealth Advisors acquired a new stake in Check Point Software Technologies in the 4th quarter valued at about $542,000. Truist Financial Corp raised its holdings in 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 valued at $22,311,000 after acquiring an additional 3,080 shares during the last quarter. Vestmark Advisory Solutions Inc. raised its holdings in Check Point Software Technologies by 99.3% in the 4th quarter. Vestmark Advisory Solutions Inc. now owns 4,973 shares of the technology company's stock valued at $928,000 after acquiring an additional 2,478 shares during the last quarter. Finally, Hickory Asset Management Inc. acquired a new stake in Check Point Software Technologies in the 4th quarter valued at about $476,000. 98.51% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several analysts have recently weighed in on the stock. Barclays increased their price target 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. Roth Capital started coverage on shares of Check Point Software Technologies in a research note on Wednesday, April 23rd. They issued a "neutral" rating and a $215.00 price target on the stock. Piper Sandler upgraded shares of Check Point Software Technologies from a "neutral" rating to an "overweight" rating and lifted their price target for the stock from $220.00 to $260.00 in a research note on Monday, March 3rd. Stephens lowered their target price on shares of Check Point Software Technologies from $255.00 to $229.00 and set an "equal weight" rating on the stock in a report on Thursday, April 24th. Finally, Morgan Stanley lowered their target price on shares of Check Point Software Technologies from $235.00 to $220.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. Sixteen investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $232.04.
Check Out Our Latest Analysis on Check Point Software Technologies
Check Point Software Technologies Price Performance
NASDAQ:CHKP traded up $2.01 during trading hours on Tuesday, reaching $220.92. 904,373 shares of the company were exchanged, compared to its average volume of 780,236. Check Point Software Technologies Ltd. has a 52-week low of $145.75 and a 52-week high of $234.36. The stock has a 50 day simple moving average of $219.43 and a 200 day simple moving average of $204.08. The firm has a market cap of $24.30 billion, a price-to-earnings ratio of 29.57, a PEG ratio of 3.41 and a beta of 0.66.
Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The technology company reported $2.21 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.19 by $0.02. The company had revenue of $637.80 million for the quarter, compared to the consensus estimate of $635.80 million. Check Point Software Technologies had a net margin of 32.97% and a return on equity of 32.40%. The company's revenue for the quarter was up 6.5% on a year-over-year basis. During the same period last year, the firm posted $2.04 EPS. On average, analysts predict that Check Point Software Technologies Ltd. will post 8.61 EPS for the current fiscal year.
Check Point Software Technologies Profile
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Free Report)
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.
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