Sterling Capital Management LLC Acquires 281 Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Sterling Capital Management LLC raised its stake in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 4.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,610 shares of the technology company’s stock after purchasing an additional 281 shares during the period. Sterling Capital Management LLC’s holdings in Check Point Software Technologies were worth $1,234,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CHKP. Nemes Rush Group LLC bought a new position in shares of Check Point Software Technologies during the fourth quarter worth about $25,000. GAMMA Investing LLC raised its holdings in Check Point Software Technologies by 53.1% during the 4th quarter. GAMMA Investing LLC now owns 173 shares of the technology company’s stock worth $32,000 after purchasing an additional 60 shares during the last quarter. Golden State Wealth Management LLC acquired a new position in shares of Check Point Software Technologies in the 4th quarter worth approximately $35,000. Exchange Traded Concepts LLC boosted its stake in shares of 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 valued at $44,000 after purchasing an additional 137 shares during the last quarter. Finally, Iron Horse Wealth Management LLC increased its position in shares of Check Point Software Technologies by 370.6% during the fourth quarter. Iron Horse Wealth Management LLC now owns 240 shares of the technology company’s stock worth $45,000 after buying an additional 189 shares during the period. 98.51% of the stock is owned by institutional investors and hedge funds.

Check Point Software Technologies Stock Performance

Shares of NASDAQ:CHKP opened at $224.47 on Wednesday. Check Point Software Technologies Ltd. has a fifty-two week low of $145.75 and a fifty-two week high of $234.36. The company’s 50-day moving average is $221.73 and its 200 day moving average is $201.07. The company has a market capitalization of $24.69 billion, a P/E ratio of 30.05, a price-to-earnings-growth ratio of 3.41 and a beta of 0.62.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Piper Sandler raised shares of Check Point Software Technologies from a “neutral” rating to an “overweight” rating and upped their price target for the company from $220.00 to $260.00 in a research report on Monday, March 3rd. Morgan Stanley initiated coverage on Check Point Software Technologies in a research note on Tuesday, March 18th. They set an “equal weight” rating and a $235.00 target price for the company. Compass Point set a $260.00 price target on Check Point Software Technologies in a report on Thursday, March 27th. Needham & Company LLC reiterated a “hold” rating on shares of Check Point Software Technologies in a research report on Thursday, February 27th. Finally, BMO Capital Markets upgraded shares of Check Point Software Technologies from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $245.00 to $275.00 in a report on Friday, March 28th. Fifteen analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $236.13.

About Check Point Software Technologies

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.