Cognyte Software Ltd. (NASDAQ:CGNT) Short Interest Down 13.4% in May

Cognyte Software Ltd. (NASDAQ:CGNT - Get Free Report) saw a large drop in short interest in the month of May. As of May 15th, there was short interest totalling 255,100 shares, a drop of 13.4% from the April 30th total of 294,600 shares. Based on an average daily volume of 362,000 shares, the days-to-cover ratio is presently 0.7 days. Currently, 0.4% of the company's shares are sold short.

Cognyte Software Stock Up 1.2%

Shares of Cognyte Software stock traded up $0.13 on Wednesday, hitting $11.19. The stock had a trading volume of 353,269 shares, compared to its average volume of 290,554. Cognyte Software has a one year low of $6.21 and a one year high of $11.49. The stock has a market cap of $806.32 million, a price-to-earnings ratio of -58.89 and a beta of 1.72. The stock's 50-day simple moving average is $9.83 and its two-hundred day simple moving average is $9.22.

Cognyte Software (NASDAQ:CGNT - Get Free Report) last announced its quarterly earnings results on Wednesday, April 2nd. The company reported $0.03 earnings per share 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 business 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 posted ($0.23) EPS. As a group, equities analysts predict that Cognyte Software will post -0.2 EPS for the current fiscal year.

Institutional Trading of Cognyte Software

Several large investors have recently modified their holdings of the business. R Squared Ltd purchased a new stake in Cognyte Software in the 4th quarter worth approximately $26,000. William Blair Investment Management LLC raised its holdings in shares of Cognyte Software by 2.5% during the fourth quarter. William Blair Investment Management LLC now owns 2,742,843 shares of the company's stock valued at $23,726,000 after acquiring an additional 67,024 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in Cognyte Software by 41.3% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 51,448 shares of the company's stock worth $445,000 after acquiring an additional 15,036 shares during the period. Value Base Ltd. purchased a new stake in Cognyte Software in the fourth quarter worth $49,471,000. Finally, Quantbot Technologies LP bought a new stake in Cognyte Software in the fourth quarter valued at $71,000. 72.92% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on CGNT shares. Wall Street Zen 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 reissued a "hold" rating on shares of Cognyte Software in a research note on Thursday, May 22nd.

About Cognyte Software

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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