Cognyte Software Ltd. (NASDAQ:CGNT - Get Free Report) reached a new 52-week high during trading on Tuesday . The company traded as high as $10.06 and last traded at $10.05, with a volume of 605304 shares traded. The stock had previously closed at $9.44.
Analysts Set New Price Targets
Several equities analysts have recently weighed in on the company. StockNews.com cut Cognyte Software from a "strong-buy" rating to a "hold" rating in a report on Wednesday, December 18th. Needham & Company LLC reaffirmed a "hold" rating on shares of Cognyte Software in a research note on Thursday, December 12th.
Read Our Latest Stock Report on CGNT
Cognyte Software Stock Down 1.8 %
The company has a market capitalization of $769.94 million, a P/E ratio of -56.37 and a beta of 1.77. The business has a fifty day moving average price of $9.08 and a 200 day moving average price of $7.79.
Cognyte Software declared that its Board of Directors has approved a stock buyback program on Tuesday, November 12th that allows the company to buyback $20.00 million in shares. This buyback authorization allows the company to reacquire up to 3.7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's management believes its stock is undervalued.
Institutional Investors Weigh In On Cognyte Software
Several hedge funds and other institutional investors have recently added to or reduced their stakes in CGNT. R Squared Ltd bought a new position in shares of Cognyte Software in the 4th quarter valued at about $26,000. State of New Jersey Common Pension Fund D boosted its position in Cognyte Software by 34.4% during 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 purchasing an additional 5,940 shares during the last quarter. XTX Topco Ltd bought a new position in Cognyte Software in the third quarter valued at approximately $169,000. Centiva Capital LP acquired a new position in shares of Cognyte Software during the 3rd quarter worth approximately $172,000. Finally, Tidal Investments LLC raised its stake in shares of Cognyte Software by 4.6% during the 3rd quarter. Tidal Investments LLC now owns 59,902 shares of the company's stock worth $407,000 after purchasing an additional 2,648 shares in the last quarter. 72.92% of the stock is currently owned by institutional investors and hedge funds.
Cognyte Software Company Profile
(
Get Free Report)
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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