Connor Clark & Lunn Investment Management Ltd. Boosts Stock Holdings in Cognyte Software Ltd. (NASDAQ:CGNT)

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Cognyte Software Ltd. by 14.1% during the first quarter, owning 908,077 shares worth approximately $7.08 million at the quarter's end.
• Other institutional investors, including SG Americas Securities and Bank of America, also lifted their positions significantly, reflecting strong interest in the company, with 72.92% of the stock held by hedge funds and institutional investors.
• Cognyte Software reported a revenue of $95.55 million for the last quarter, surpassing analyst expectations, and analysts predict a -0.2 EPS for the current year.

Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Cognyte Software Ltd. (NASDAQ:CGNT - Free Report) by 14.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 908,077 shares of the company's stock after purchasing an additional 112,530 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 1.26% of Cognyte Software worth $7,083,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Topline Capital Management LLC acquired a new position in Cognyte Software during the 4th quarter worth approximately $78,025,000. Westerly Capital Management LLC increased its position in Cognyte Software by 20.8% during the 4th quarter. Westerly Capital Management LLC now owns 900,000 shares of the company's stock worth $7,785,000 after purchasing an additional 155,000 shares in the last quarter. D. E. Shaw & Co. Inc. increased its position in Cognyte Software by 8.9% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 818,729 shares of the company's stock worth $7,082,000 after purchasing an additional 66,712 shares in the last quarter. Renaissance Technologies LLC increased its position in Cognyte Software by 7.7% during the 4th quarter. Renaissance Technologies LLC now owns 726,206 shares of the company's stock worth $6,282,000 after purchasing an additional 51,795 shares in the last quarter. Finally, Millennium Management LLC increased its position in Cognyte Software by 80.8% during the 4th 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. 72.92% of the stock is currently owned by institutional investors and hedge funds.

Cognyte Software Price Performance

Shares of CGNT traded up $0.04 during trading hours on Friday, hitting $8.77. 89,090 shares of the stock were exchanged, compared to its average volume of 191,134. The firm has a market capitalization of $631.97 million, a P/E ratio of -79.73 and a beta of 1.65. Cognyte Software Ltd. has a fifty-two week low of $6.21 and a fifty-two week high of $11.65. The business has a 50-day moving average of $9.17 and a 200-day moving average of $9.42.

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, analysts forecast that Cognyte Software Ltd. will post -0.2 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Needham & Company LLC reiterated a "hold" rating on shares of Cognyte Software in a research report on Monday, July 28th.

Cognyte Software Profile

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.