Connor Clark & Lunn Investment Management Ltd. Acquires 175,569 Shares of Cognyte Software Ltd. $CGNT

Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Cognyte Software Ltd. (NASDAQ:CGNT) by 19.3% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 1,083,646 shares of the company’s stock after purchasing an additional 175,569 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Cognyte Software were worth $10,013,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Algert Global LLC lifted its stake in Cognyte Software by 5.0% in the first quarter. Algert Global LLC now owns 32,388 shares of the company’s stock valued at $253,000 after buying an additional 1,530 shares during the period. Signaturefd LLC increased its stake in shares of Cognyte Software by 119.2% in the 1st quarter. Signaturefd LLC now owns 3,968 shares of the company’s stock valued at $31,000 after acquiring an additional 2,158 shares during the last quarter. Jump Financial LLC raised its position in shares of Cognyte Software by 5.7% in the 1st quarter. Jump Financial LLC now owns 43,141 shares of the company’s stock valued at $336,000 after acquiring an additional 2,341 shares during the period. Quantbot Technologies LP boosted its stake in Cognyte Software by 106.5% during the 1st quarter. Quantbot Technologies LP now owns 16,924 shares of the company’s stock worth $132,000 after acquiring an additional 8,727 shares during the last quarter. Finally, Corton Capital Inc. acquired a new position in Cognyte Software during the second quarter valued at approximately $95,000. 72.92% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Cognyte Software Price Performance

CGNT stock opened at $8.54 on Wednesday. The stock has a market capitalization of $623.16 million, a P/E ratio of -142.31 and a beta of 1.63. Cognyte Software Ltd. has a fifty-two week low of $6.80 and a fifty-two week high of $11.65. The business has a 50-day moving average of $8.42 and a 200-day moving average of $9.12.

About Cognyte Software

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.