Cognyte Software (NASDAQ:CGNT) Shares Up 5.4% – Here’s Why

Cognyte Software Ltd. (NASDAQ:CGNT) shares were up 5.4% during trading on Tuesday . The stock traded as high as $8.12 and last traded at $8.22. Approximately 396,881 shares were traded during mid-day trading, an increase of 44% from the average daily volume of 276,212 shares. The stock had previously closed at $7.80.

Wall Street Analysts Forecast Growth

CGNT has been the subject of a number of recent analyst reports. Needham & Company LLC restated a “hold” rating on shares of Cognyte Software in a report on Thursday, December 12th. StockNews.com lowered Cognyte Software from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th.

Cognyte Software Trading Up 5.4 %

The firm’s fifty day moving average price is $9.16 and its 200-day moving average price is $8.20. The company has a market cap of $590.97 million, a P/E ratio of -43.26 and a beta of 1.77.

Institutional Trading of Cognyte Software

Several institutional investors have recently modified their holdings of CGNT. Public Employees Retirement System of Ohio boosted its stake in Cognyte Software by 3.7% during the fourth quarter. Public Employees Retirement System of Ohio now owns 168,122 shares of the company’s stock worth $1,454,000 after buying an additional 6,009 shares in the last quarter. Man Group plc lifted its holdings in shares of Cognyte Software by 88.3% during the 4th quarter. Man Group plc now owns 79,035 shares of the company’s stock worth $684,000 after acquiring an additional 37,070 shares during the period. Millennium Management LLC boosted its position in shares of Cognyte Software by 80.8% during the 4th quarter. Millennium Management LLC now owns 456,546 shares of the company’s stock valued at $3,949,000 after acquiring an additional 204,099 shares in the last quarter. D. E. Shaw & Co. Inc. increased its stake in Cognyte Software by 8.9% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 818,729 shares of the company’s stock valued at $7,082,000 after acquiring an additional 66,712 shares during the period. Finally, Bank of America Corp DE raised its position in Cognyte Software by 149.3% in the fourth quarter. Bank of America Corp DE now owns 13,369 shares of the company’s stock worth $116,000 after purchasing an additional 8,007 shares in the last quarter. Institutional investors and hedge funds own 72.92% of the company’s stock.

Cognyte Software Company 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.