Cognyte Software Ltd. (NASDAQ:CGNT) Short Interest Down 45.3% in April

Cognyte Software Ltd. (NASDAQ:CGNT - Get Free Report) saw a significant decrease in short interest during the month of April. As of April 15th, there was short interest totalling 350,100 shares, a decrease of 45.3% from the March 31st total of 639,800 shares. Based on an average daily volume of 371,600 shares, the short-interest ratio is presently 0.9 days. Approximately 0.6% of the shares of the stock are short sold.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Needham & Company LLC reaffirmed a "hold" rating on shares of Cognyte Software in a research note on Tuesday, April 8th. StockNews.com upgraded shares of Cognyte Software from a "buy" rating to a "strong-buy" rating in a research report on Saturday, April 12th.

Hedge Funds Weigh In On Cognyte Software

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Topline Capital Management LLC bought a new stake in Cognyte Software during the 4th quarter valued at approximately $78,025,000. Value Base Ltd. bought a new stake in shares of Cognyte Software during the fourth quarter valued at approximately $49,471,000. Marshall Wace LLP grew its stake in Cognyte Software by 210.3% in the fourth quarter. Marshall Wace LLP now owns 424,424 shares of the company's stock worth $3,671,000 after purchasing an additional 287,639 shares during the period. Millennium Management LLC raised its holdings in Cognyte Software by 80.8% in the fourth quarter. Millennium Management LLC now owns 456,546 shares of the company's stock worth $3,949,000 after purchasing an additional 204,099 shares in the last quarter. Finally, Westerly Capital Management LLC lifted its position in Cognyte Software by 20.8% during the fourth quarter. Westerly Capital Management LLC now owns 900,000 shares of the company's stock valued at $7,785,000 after buying an additional 155,000 shares during the period. Hedge funds and other institutional investors own 72.92% of the company's stock.

Cognyte Software Stock Performance

CGNT stock traded up $0.05 during trading on Friday, hitting $9.90. 175,072 shares of the company traded hands, compared to its average volume of 283,578. The company has a 50-day moving average of $8.93 and a 200-day moving average of $8.68. Cognyte Software has a 1 year low of $6.21 and a 1 year high of $11.12. The firm has a market capitalization of $713.36 million, a PE ratio of -52.11 and a beta of 1.76.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.01 by $0.02. The business had revenue of $94.51 million for the quarter, compared to analyst estimates of $93.15 million. Cognyte Software had a negative net margin of 3.95% and a negative return on equity of 13.30%. During the same quarter last year, the firm earned ($0.23) EPS. Sell-side analysts expect that Cognyte Software will post -0.2 EPS for the current year.

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.