Corton Capital Inc. Invests $95,000 in Cognyte Software Ltd. $CGNT

Corton Capital Inc. purchased a new position in Cognyte Software Ltd. (NASDAQ:CGNT) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,304 shares of the company’s stock, valued at approximately $95,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Algert Global LLC grew its holdings in shares of Cognyte Software by 5.0% in the first quarter. Algert Global LLC now owns 32,388 shares of the company’s stock worth $253,000 after purchasing an additional 1,530 shares during the last quarter. Signaturefd LLC grew its holdings in shares of Cognyte Software by 119.2% in the first quarter. Signaturefd LLC now owns 3,968 shares of the company’s stock worth $31,000 after purchasing an additional 2,158 shares during the last quarter. Jump Financial LLC grew its holdings in shares of Cognyte Software by 5.7% in the first quarter. Jump Financial LLC now owns 43,141 shares of the company’s stock worth $336,000 after purchasing an additional 2,341 shares during the last quarter. Quantbot Technologies LP grew its holdings in shares of Cognyte Software by 106.5% in the first quarter. Quantbot Technologies LP now owns 16,924 shares of the company’s stock worth $132,000 after purchasing an additional 8,727 shares during the last quarter. Finally, R Squared Ltd bought a new position in shares of Cognyte Software in the second quarter worth about $110,000. 72.92% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CGNT. Zacks Research upgraded shares of Cognyte Software to a “hold” rating in a report on Monday, October 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cognyte Software in a report on Wednesday, October 8th. Needham & Company LLC reiterated a “hold” rating on shares of Cognyte Software in a report on Monday, July 28th. Wall Street Zen cut shares of Cognyte Software from a “buy” rating to a “hold” rating in a report on Saturday, October 11th. Finally, Roth Capital began coverage on shares of Cognyte Software in a report on Friday, October 3rd. They set a “buy” rating and a $14.00 target price on the stock. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Cognyte Software currently has a consensus rating of “Hold” and an average price target of $14.00.

Cognyte Software Stock Performance

NASDAQ:CGNT opened at $8.55 on Thursday. Cognyte Software Ltd. has a fifty-two week low of $6.80 and a fifty-two week high of $11.65. The stock has a market capitalization of $623.89 million, a P/E ratio of -142.48 and a beta of 1.63. The company’s 50-day simple moving average is $8.45 and its 200-day simple moving average is $9.15.

Cognyte Software Profile

Cognyte Software Ltd. provides an investigative analytics software to governments and enterprises worldwide. Its Actionable Intelligence for a Safer World, an open software designed to help governments and enterprises accelerate and enhance the effectiveness of investigations. The company offers network intelligence analytics, threat intelligence analytics, decision intelligence analytics, and operational intelligence analytics solutions.