197,238 Shares in Cognyte Software Ltd. $CGNT Bought by Bastion Asset Management Inc.

Key Points

• Bastion Asset Management opened a new position in Cognyte Software, buying 197,238 shares worth about $1.615 million and ending the quarter with roughly 0.27% ownership.
• Cognyte’s latest quarterly results were mixed: it posted $0.03 EPS, below the $0.10 consensus, while revenue of $105.49 million came in slightly ahead of estimates.
• Wall Street sentiment is cautious, with recent downgrades leaving CGNT at an average “Hold” rating and a consensus price target of $13.50.

Bastion Asset Management Inc. bought a new position in shares of Cognyte Software Ltd. (NASDAQ:CGNT - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 197,238 shares of the company's stock, valued at approximately $1,615,000. Bastion Asset Management Inc. owned about 0.27% of Cognyte Software at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Rockefeller Capital Management L.P. boosted its stake in shares of Cognyte Software by 1,478.7% during the 4th quarter. Rockefeller Capital Management L.P. now owns 3,268 shares of the company's stock worth $31,000 after acquiring an additional 3,061 shares in the last quarter. Quarry LP acquired a new stake in Cognyte Software in the 3rd quarter worth approximately $33,000. Osaic Holdings Inc. boosted its position in Cognyte Software by 79.4% during the second quarter. Osaic Holdings Inc. now owns 3,634 shares of the company's stock worth $34,000 after purchasing an additional 1,608 shares during the period. FourThought Financial Partners LLC bought a new stake in Cognyte Software during the fourth quarter worth approximately $95,000. Finally, Global Retirement Partners LLC acquired a new position in Cognyte Software during the fourth quarter valued at approximately $113,000. 72.92% of the stock is currently owned by institutional investors.

Cognyte Software Price Performance

NASDAQ:CGNT opened at $8.89 on Friday. Cognyte Software Ltd. has a one year low of $6.29 and a one year high of $12.31. The company has a fifty day moving average price of $9.38 and a 200 day moving average price of $8.87. The stock has a market cap of $649.66 million, a P/E ratio of -222.25 and a beta of 1.68.

Cognyte Software (NASDAQ:CGNT - Get Free Report) last posted its quarterly earnings results on Wednesday, June 3rd. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.07). Cognyte Software had a negative return on equity of 0.45% and a negative net margin of 0.66%.The company had revenue of $105.49 million during the quarter, compared to analyst estimates of $105.04 million. Cognyte Software has set its FY 2027 guidance at 0.470-0.470 EPS. As a group, equities research analysts anticipate that Cognyte Software Ltd. will post 0.08 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CGNT. Zacks Research lowered shares of Cognyte Software from a "hold" rating to a "strong sell" rating in a research report on Wednesday, June 24th. Wall Street Zen downgraded shares of Cognyte Software from a "buy" rating to a "hold" rating in a report on Saturday, June 6th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $13.50.

About Cognyte Software

Cognyte Software Ltd. is a global provider of security analytics solutions that was spun off from NICE Ltd. in early 2021. Headquartered in Israel, the company delivers specialized software and services designed to help government agencies, law enforcement organizations and critical infrastructure operators process and analyze large volumes of data for intelligence and investigative purposes.

The company’s core offerings include advanced analytics platforms that aggregate and visualize structured and unstructured data from diverse sources, such as communications metadata, open-source intelligence and sensor feeds.

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