Cognyte Software Ltd. $CGNT Shares Purchased by Acadian Asset Management LLC

Key Points

• Acadian Asset Management LLC increased its holdings in Cognyte Software Ltd. by 5.6%, owning approximately 3.68% of the company, worth around $20.68 million.
• Cognyte Software reported earnings per share (EPS) of $0.07 for the last quarter, exceeding analysts' expectations, with a revenue of $95.55 million.
• Barclays PLC and other institutional investors significantly raised their stakes in Cognyte Software, contributing to a total institutional ownership of 72.92%.

Acadian Asset Management LLC increased its holdings in Cognyte Software Ltd. (NASDAQ:CGNT - Free Report) by 5.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,654,829 shares of the company's stock after acquiring an additional 140,793 shares during the quarter. Acadian Asset Management LLC owned approximately 3.68% of Cognyte Software worth $20,682,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in CGNT. Barclays PLC lifted its stake in 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 period. Signaturefd LLC lifted its stake in 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 period. Magnetar Financial LLC purchased a new stake in Cognyte Software in the first quarter worth about $106,000. Jane Street Group LLC purchased a new stake in Cognyte Software in the fourth quarter worth about $112,000. Finally, Bank of America Corp DE lifted its position in shares of Cognyte Software by 149.3% during the fourth quarter. Bank of America Corp DE now owns 13,369 shares of the company's stock valued at $116,000 after buying an additional 8,007 shares during the last quarter. 72.92% of the stock is owned by hedge funds and other institutional investors.

Cognyte Software Price Performance

Shares of CGNT stock traded down $0.20 during mid-day trading on Friday, hitting $8.52. 232,189 shares of the stock traded hands, compared to its average volume of 286,563. The stock has a market cap of $621.70 million, a P/E ratio of -141.98 and a beta of 1.65. The stock's fifty day moving average is $8.94 and its two-hundred day moving average is $9.26. Cognyte Software Ltd. has a 52-week low of $6.38 and a 52-week high of $11.65.

Cognyte Software (NASDAQ:CGNT - Get Free Report) last posted its quarterly earnings data on Wednesday, June 11th. The company reported $0.07 earnings per share (EPS) for the quarter. Cognyte Software had a negative net margin of 1.20% and a negative return on equity of 2.05%. The firm had revenue of $95.55 million for the quarter, compared to the consensus estimate of $93.96 million. As a group, equities analysts forecast that Cognyte Software Ltd. will post -0.2 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Needham & Company LLC reissued a "hold" rating on shares of Cognyte Software in a research report on Monday, July 28th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Hold".

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.