Cognyte Software (NASDAQ:CGNT) Sets New 52-Week High - What's Next?

Cognyte Software Ltd. (NASDAQ:CGNT - Get Free Report) hit a new 52-week high on Monday . The stock traded as high as $11.20 and last traded at $11.01, with a volume of 148633 shares. The stock had previously closed at $10.91.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. 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 reaffirmed a "hold" rating on shares of Cognyte Software in a report on Thursday, May 22nd.

Cognyte Software Stock Performance

The firm has a market capitalization of $806.32 million, a price-to-earnings ratio of -58.89 and a beta of 1.72. The firm has a fifty day moving average price of $9.83 and a 200 day moving average price of $9.22.

Cognyte Software (NASDAQ:CGNT - Get Free Report) last released its quarterly earnings data on Wednesday, April 2nd. The company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.02. Cognyte Software had a negative return on equity of 13.30% and a negative net margin of 3.95%. The firm 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 business posted ($0.23) earnings per share. Research analysts predict that Cognyte Software Ltd. will post -0.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cognyte Software

Several institutional investors and hedge funds have recently made changes to their positions in the business. Topline Capital Management LLC purchased a new position in shares of Cognyte Software during the fourth quarter valued at approximately $78,025,000. Edenbrook Capital LLC increased its stake in Cognyte Software by 1.3% in the first quarter. Edenbrook Capital LLC now owns 6,635,083 shares of the company's stock valued at $51,754,000 after purchasing an additional 82,500 shares during the last quarter. Value Base Ltd. purchased a new stake in Cognyte Software in the 4th quarter valued at about $49,471,000. William Blair Investment Management LLC increased its position in 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 worth $23,726,000 after purchasing an additional 67,024 shares during the last quarter. Finally, Acadian Asset Management LLC raised its position in shares of Cognyte Software by 5.6% in the 1st quarter. Acadian Asset Management LLC now owns 2,654,829 shares of the company's stock worth $20,682,000 after buying an additional 140,793 shares during the period. 72.92% of the stock is currently owned by hedge funds and other institutional investors.

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.