Cognyte Software Ltd. (NASDAQ:CGNT - Get Free Report)'s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $7.66 and traded as high as $9.24. Cognyte Software shares last traded at $9.19, with a volume of 135,557 shares changing hands.
Analyst Upgrades and Downgrades
Several research analysts have commented on CGNT shares. StockNews.com cut shares of Cognyte Software from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, December 18th. Needham & Company LLC reiterated a "hold" rating on shares of Cognyte Software in a research report on Thursday, December 12th.
View Our Latest Research Report on CGNT
Cognyte Software Stock Down 0.4 %
The firm has a market capitalization of $669.30 million, a P/E ratio of -49.00 and a beta of 1.76. The business's 50 day moving average is $8.84 and its two-hundred day moving average is $7.69.
Cognyte Software announced that its Board of Directors has authorized a share repurchase program on Tuesday, November 12th that authorizes the company to repurchase $20.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 3.7% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's management believes its stock is undervalued.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in the stock. R Squared Ltd bought a new stake in Cognyte Software during the fourth quarter worth approximately $26,000. State of New Jersey Common Pension Fund D raised its stake in shares of Cognyte Software by 34.4% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 23,186 shares of the company's stock worth $157,000 after buying an additional 5,940 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of Cognyte Software in the third quarter valued at $169,000. Centiva Capital LP acquired a new stake in shares of Cognyte Software in the third quarter valued at $172,000. Finally, Tidal Investments LLC boosted its stake in Cognyte Software by 4.6% during the third quarter. Tidal Investments LLC now owns 59,902 shares of the company's stock valued at $407,000 after buying an additional 2,648 shares in the last quarter. 72.92% of the stock is currently owned by institutional investors.
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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