abrdn plc Buys 16,313 Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP)

abrdn plc increased its stake in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 93.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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 SEC filing.

Other institutional investors have also made changes to their positions in the company. Concord Wealth Partners acquired a new stake in shares of Check Point Software Technologies during the third quarter worth $25,000. CNB Bank bought a new position in Check Point Software Technologies during the third quarter worth about $27,000. Bruce G. Allen Investments LLC bought a new position in Check Point Software Technologies during the fourth quarter worth about $30,000. Salem Investment Counselors Inc. lifted its holdings in Check Point Software Technologies by 483.7% during the fourth quarter. Salem Investment Counselors Inc. now owns 286 shares of the technology company's stock worth $44,000 after acquiring an additional 237 shares in the last quarter. Finally, Y.D. More Investments Ltd bought a new position in Check Point Software Technologies during the third quarter worth about $49,000. 87.62% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CHKP has been the topic of several recent analyst reports. Royal Bank of Canada lifted their target price on Check Point Software Technologies from $159.00 to $165.00 and gave the stock a "sector perform" rating in a report on Wednesday, February 7th. BMO Capital Markets lifted their target price on Check Point Software Technologies from $175.00 to $185.00 and gave the stock a "market perform" rating in a report on Wednesday, February 7th. Barclays boosted their price target on Check Point Software Technologies from $170.00 to $175.00 and gave the company an "equal weight" rating in a report on Friday. Susquehanna boosted their price target on Check Point Software Technologies from $190.00 to $200.00 and gave the company a "positive" rating in a report on Wednesday, February 7th. Finally, Truist Financial boosted their price target on Check Point Software Technologies from $170.00 to $175.00 and gave the company a "buy" rating in a report 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 MarketBeat, the stock has an average rating of "Hold" and an average price target of $164.00.

Check Point Software Technologies Price Performance

NASDAQ CHKP traded down $1.75 during trading on Friday, reaching $151.20. 1,275,556 shares of the company's stock were exchanged, compared to its average volume of 616,404. The business has a 50 day moving average price of $161.41 and a 200-day moving average price of $153.14. The stock has a market capitalization of $18.26 billion, a P/E ratio of 21.00, a PEG ratio of 2.45 and a beta of 0.61. Check Point Software Technologies Ltd. has a fifty-two week low of $117.18 and a fifty-two week high of $168.82.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last announced its quarterly earnings results on Thursday, April 25th. The technology company reported $1.72 earnings per share for the quarter, hitting analysts' consensus estimates of $1.72. The firm had revenue of $598.80 million for the quarter, compared to the consensus estimate of $595.28 million. Check Point Software Technologies had a return on equity of 31.30% and a net margin of 34.33%. On average, analysts forecast that Check Point Software Technologies Ltd. will post 7.85 earnings per share for the current year.

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.