Cognyte Software (NASDAQ:CGNT) Shares Down 4.1% - Should You Sell?

Cognyte Software Ltd. (NASDAQ:CGNT - Get Free Report) was down 4.1% during mid-day trading on Thursday . The company traded as low as $9.06 and last traded at $8.72. Approximately 100,068 shares traded hands during mid-day trading, a decline of 67% from the average daily volume of 301,150 shares. The stock had previously closed at $9.09.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Needham & Company LLC reissued a "hold" rating on shares of Cognyte Software in a report on Wednesday, June 11th. 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.

Cognyte Software Stock Down 4.1%

The stock has a 50 day simple moving average of $9.98 and a 200 day simple moving average of $9.42. The company has a market cap of $628.44 million, a price-to-earnings ratio of -79.28 and a beta of 1.65.

Cognyte Software (NASDAQ:CGNT - Get Free Report) last issued its earnings results on Wednesday, June 11th. The company reported $0.07 earnings per share (EPS) for the quarter. The business had revenue of $95.55 million for the quarter, compared to analyst estimates of $93.96 million. Cognyte Software had a negative net margin of 2.18% and a negative return on equity of 3.53%. As a group, equities research analysts expect that Cognyte Software Ltd. will post -0.2 EPS for the current fiscal year.

Institutional Investors Weigh In On Cognyte Software

Hedge funds and other institutional investors have recently made changes to their positions in the company. Barclays PLC grew its stake in shares of Cognyte Software by 70.0% in the fourth quarter. Barclays PLC now owns 2,943 shares of the company's stock worth $25,000 after acquiring an additional 1,212 shares during the last quarter. Signaturefd LLC raised its stake in shares of Cognyte Software by 119.2% in the first quarter. Signaturefd LLC now owns 3,968 shares of the company's stock worth $31,000 after acquiring an additional 2,158 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in Cognyte Software by 1,695.7% during the 4th quarter. Russell Investments Group Ltd. now owns 4,130 shares of the company's stock worth $36,000 after buying an additional 3,900 shares in the last quarter. Quantbot Technologies LP bought a new position in Cognyte Software in the fourth quarter valued at about $71,000. Finally, Magnetar Financial LLC acquired a new stake in shares of Cognyte Software during the 1st quarter worth approximately $106,000. 72.92% of the stock is 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.

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