Cognyte Software (NASDAQ:CGNT) Trading Up 6.4% – Here’s Why

Cognyte Software Ltd. (NASDAQ:CGNT) shares were up 6.4% on Monday . The stock traded as high as $10.36 and last traded at $10.54. Approximately 185,709 shares traded hands during trading, a decline of 35% from the average daily volume of 283,643 shares. The stock had previously closed at $9.90.

Analyst Ratings Changes

Several research analysts recently weighed in on CGNT shares. StockNews.com upgraded shares of Cognyte Software from a “buy” rating to a “strong-buy” rating in a research report on Saturday, April 12th. Needham & Company LLC restated a “hold” rating on shares of Cognyte Software in a research report on Tuesday, April 8th.

Cognyte Software Trading Up 5.8%

The firm’s 50-day moving average is $9.16 and its two-hundred day moving average is $8.90. The stock has a market cap of $754.44 million, a price-to-earnings ratio of -55.11 and a beta of 1.72.

Cognyte Software (NASDAQ:CGNT) last announced its quarterly earnings data on Wednesday, April 2nd. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.02. Cognyte Software had a negative net margin of 3.95% and a negative return on equity of 13.30%. The company had revenue of $94.51 million during the quarter, compared to analysts’ expectations of $93.15 million. During the same quarter in the prior year, the company earned ($0.23) EPS. On average, analysts predict that Cognyte Software Ltd. will post -0.2 earnings per share for the current year.

Institutional Trading of Cognyte Software

Several large investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. grew its stake in Cognyte Software by 52.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 131,140 shares of the company’s stock valued at $1,023,000 after acquiring an additional 45,229 shares in the last quarter. Millennium Management LLC grew its stake in shares of Cognyte Software by 101.9% in the 1st quarter. Millennium Management LLC now owns 921,853 shares of the company’s stock valued at $7,190,000 after buying an additional 465,307 shares during the period. Edenbrook Capital LLC grew its stake in shares of Cognyte Software by 1.3% in the 1st quarter. Edenbrook Capital LLC now owns 6,635,083 shares of the company’s stock valued at $51,754,000 after buying an additional 82,500 shares during the period. PDT Partners LLC purchased a new stake in shares of Cognyte Software in the 1st quarter valued at approximately $355,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Cognyte Software in the 1st quarter valued at approximately $633,000. Hedge funds and other institutional investors own 72.92% of the company’s stock.

Cognyte Software Company Profile

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.