Abacus FCF Advisors LLC Invests $1.34 Million in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Abacus FCF Advisors LLC acquired a new position in Check Point Software Technologies Ltd. (NASDAQ:CHKP) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 7,182 shares of the technology company’s stock, valued at approximately $1,341,000.

Several other large investors have also added to or reduced their stakes in the business. Truist Financial Corp boosted its holdings 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 valued at $22,311,000 after buying an additional 3,080 shares during the last quarter. Vestmark Advisory Solutions Inc. raised its position in Check Point Software Technologies by 99.3% during the fourth quarter. Vestmark Advisory Solutions Inc. now owns 4,973 shares of the technology company’s stock worth $928,000 after acquiring an additional 2,478 shares in the last quarter. MML Investors Services LLC lifted its stake in Check Point Software Technologies by 3.7% in the third quarter. MML Investors Services LLC now owns 103,507 shares of the technology company’s stock valued at $19,957,000 after acquiring an additional 3,655 shares during the last quarter. Hickory Asset Management Inc. bought a new position in shares of Check Point Software Technologies in the 4th quarter valued at about $476,000. Finally, Assetmark Inc. increased its stake in shares of Check Point Software Technologies by 44.1% during the 4th quarter. Assetmark Inc. now owns 140,943 shares of the technology company’s stock worth $26,314,000 after purchasing an additional 43,165 shares during the last quarter. Institutional investors and hedge funds own 98.51% of the company’s stock.

Check Point Software Technologies Stock Performance

CHKP stock opened at $208.20 on Wednesday. The company has a market capitalization of $22.90 billion, a P/E ratio of 27.87, a price-to-earnings-growth ratio of 3.41 and a beta of 0.62. Check Point Software Technologies Ltd. has a 52-week low of $145.75 and a 52-week high of $234.36. The business has a 50-day simple moving average of $221.29 and a two-hundred day simple moving average of $200.09.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Guggenheim reiterated a “neutral” rating on shares of Check Point Software Technologies in a report on Friday, January 31st. The Goldman Sachs Group lowered Check Point Software Technologies from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $204.00 to $207.00 in a report on Thursday, January 2nd. Compass Point set a $260.00 price target on Check Point Software Technologies in a report on Thursday, March 27th. Stephens started coverage on shares of Check Point Software Technologies in a report on Tuesday, April 1st. They issued an “equal weight” rating and a $255.00 price objective on the stock. Finally, Bank of America upgraded shares of Check Point Software Technologies from a “neutral” rating to a “buy” rating and raised their target price for the stock from $230.00 to $260.00 in a research note on Thursday, March 27th. Sixteen investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Check Point Software Technologies presently has an average rating of “Moderate Buy” and an average target price of $236.13.

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.