Cognyte Software (NASDAQ:CGNT - Get Free Report) was downgraded by research analysts at StockNews.com from a "strong-buy" rating to a "hold" rating in a research report issued on Wednesday.
Separately, Needham & Company LLC restated a "hold" rating on shares of Cognyte Software in a research note on Thursday, December 12th.
View Our Latest Stock Analysis on Cognyte Software
Cognyte Software Price Performance
CGNT stock traded down $0.12 during mid-day trading on Wednesday, reaching $9.14. The company had a trading volume of 42,411 shares, compared to its average volume of 309,715. Cognyte Software has a 52 week low of $5.44 and a 52 week high of $9.59. The company has a market capitalization of $657.11 million, a price-to-earnings ratio of -48.74 and a beta of 1.81. The stock has a 50 day simple moving average of $7.47 and a two-hundred day simple moving average of $7.39.
Cognyte Software declared that its Board of Directors has authorized a stock buyback plan on Tuesday, November 12th that authorizes the company to repurchase $20.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 3.7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board of directors believes its shares are undervalued.
Institutional Investors Weigh In On Cognyte Software
A number of institutional investors have recently made changes to their positions in the company. Signaturefd LLC raised its position in shares of Cognyte Software by 91.4% in the second quarter. Signaturefd LLC now owns 3,311 shares of the company's stock valued at $25,000 after buying an additional 1,581 shares in the last quarter. nVerses Capital LLC acquired a new position in Cognyte Software during the second quarter valued at approximately $28,000. Magnetar Financial LLC bought a new stake in Cognyte Software during the second quarter worth $117,000. State of New Jersey Common Pension Fund D boosted its holdings 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 valued at $157,000 after purchasing an additional 5,940 shares in the last quarter. Finally, XTX Topco Ltd bought a new position in shares of Cognyte Software in the 3rd quarter valued at $169,000. Institutional investors own 72.92% of the company's stock.
Cognyte Software Company Profile
(
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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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