Shares of Cognyte Software Ltd. (NASDAQ:CGNT - Get Free Report) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $9.69 and last traded at $9.49, with a volume of 216940 shares trading hands. The stock had previously closed at $8.79.
Wall Street Analysts Forecast Growth
Several research firms have recently commented on CGNT. StockNews.com lowered shares of Cognyte Software from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, December 18th. Needham & Company LLC reissued a "hold" rating on shares of Cognyte Software in a research note on Thursday, December 12th.
Get Our Latest Stock Report on Cognyte Software
Cognyte Software Trading Up 9.1 %
The company has a market cap of $689.46 million, a price-to-earnings ratio of -50.47 and a beta of 1.76. The stock has a 50-day simple moving average of $8.27 and a 200-day simple moving average of $7.53.
Cognyte Software announced that its board has approved a share repurchase program on Tuesday, November 12th that authorizes the company to buyback $20.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 3.7% of its stock through open market purchases. Stock buyback programs are often a sign that the company's management believes its shares are undervalued.
Institutional Trading of Cognyte Software
A number of institutional investors have recently made changes to their positions in the stock. Silverberg Bernstein Capital Management LLC raised its holdings in Cognyte Software by 2.0% during the third quarter. Silverberg Bernstein Capital Management LLC now owns 100,300 shares of the company's stock worth $681,000 after purchasing an additional 2,000 shares in the last quarter. Tidal Investments LLC raised its stake in shares of Cognyte Software by 4.6% in the 3rd quarter. Tidal Investments LLC now owns 59,902 shares of the company's stock worth $407,000 after buying an additional 2,648 shares in the last quarter. State of New Jersey Common Pension Fund D lifted its holdings in shares of Cognyte Software by 34.4% in the third quarter. State of New Jersey Common Pension Fund D now owns 23,186 shares of the company's stock valued at $157,000 after buying an additional 5,940 shares during the period. Scalar Gauge Management LLC boosted its stake in Cognyte Software by 3.5% during the third quarter. Scalar Gauge Management LLC now owns 440,032 shares of the company's stock valued at $2,988,000 after buying an additional 15,000 shares in the last quarter. Finally, Magnetar Financial LLC bought a new position in Cognyte Software during the second quarter valued at about $117,000. 72.92% of the stock is owned by institutional investors and hedge funds.
About Cognyte Software
(
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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.
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