Goldman Sachs Group Inc. Boosts Stake in Cognyte Software Ltd. $CGNT

Key Points

• Goldman Sachs Group Inc. has increased its stake in Cognyte Software Ltd. by 52.6%, now owning approximately 0.18% of the company worth around $1,023,000.
• Other institutional investors have also shown significant interest, with hedge funds owning 72.92% of the stock, indicating strong support for the company.
• The Current average analyst rating for Cognyte Software is a "hold", reflecting cautious optimism among investors.

Goldman Sachs Group Inc. increased its holdings in Cognyte Software Ltd. (NASDAQ:CGNT - Free Report) by 52.6% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 131,140 shares of the company's stock after purchasing an additional 45,229 shares during the period. Goldman Sachs Group Inc. owned approximately 0.18% of Cognyte Software worth $1,023,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Driehaus Capital Management LLC purchased a new stake in Cognyte Software in the first quarter worth $4,495,000. Millennium Management LLC raised its stake in Cognyte Software by 101.9% during the first quarter. Millennium Management LLC now owns 921,853 shares of the company's stock valued at $7,190,000 after buying an additional 465,307 shares during the last quarter. Acadian Asset Management LLC boosted its stake in Cognyte Software by 5.6% during the 1st quarter. Acadian Asset Management LLC now owns 2,654,829 shares of the company's stock valued at $20,682,000 after purchasing an additional 140,793 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Cognyte Software by 14.1% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 908,077 shares of the company's stock valued at $7,083,000 after purchasing an additional 112,530 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in Cognyte Software during the 1st quarter valued at $663,000. 72.92% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Needham & Company LLC reiterated a "hold" rating on shares of Cognyte Software in a research note on Monday, July 28th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Cognyte Software currently has an average rating of "Hold".

Cognyte Software Stock Up 3.0%

CGNT opened at $8.64 on Tuesday. The stock's fifty day moving average is $8.87 and its two-hundred day moving average is $9.24. The company has a market capitalization of $630.46 million, a P/E ratio of -143.98 and a beta of 1.65. Cognyte Software Ltd. has a 52 week low of $6.38 and a 52 week high of $11.65.

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.

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