Shares of Cognyte Software Ltd. (NASDAQ:CGNT - Get Free Report) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $7.86 and traded as high as $10.91. Cognyte Software shares last traded at $10.80, with a volume of 237,858 shares traded.
Wall Street Analysts Forecast Growth
A number of equities analysts have commented on CGNT shares. Needham & Company LLC restated a "hold" rating on shares of Cognyte Software in a research note on Thursday, December 12th. StockNews.com cut shares of Cognyte Software from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, December 18th.
View Our Latest Stock Analysis on CGNT
Cognyte Software Trading Down 3.7 %
The firm's 50-day moving average price is $9.29 and its two-hundred day moving average price is $7.90. The stock has a market cap of $743.34 million, a PE ratio of -54.42 and a beta of 1.77.
Cognyte Software announced that its Board of Directors has authorized a stock repurchase program on Tuesday, November 12th that allows the company to repurchase $20.00 million in shares. This repurchase authorization allows the company to buy up to 3.7% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board believes its shares are undervalued.
Institutional Investors Weigh In On Cognyte Software
Several hedge funds have recently modified their holdings of CGNT. Barclays PLC lifted its position in Cognyte Software by 70.0% during the fourth quarter. Barclays PLC now owns 2,943 shares of the company's stock valued at $25,000 after acquiring an additional 1,212 shares during the last quarter. R Squared Ltd purchased a new stake in Cognyte Software during the fourth quarter valued at approximately $26,000. Russell Investments Group Ltd. lifted its position in Cognyte Software by 1,695.7% during the fourth quarter. Russell Investments Group Ltd. now owns 4,130 shares of the company's stock valued at $36,000 after acquiring an additional 3,900 shares during the last quarter. Quantbot Technologies LP purchased a new stake in Cognyte Software during the fourth quarter valued at approximately $71,000. Finally, Jane Street Group LLC purchased a new stake in Cognyte Software during the fourth quarter valued at approximately $112,000. Hedge funds and other institutional investors own 72.92% of the company's stock.
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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