Millennium Management LLC Purchases 204,099 Shares of Cognyte Software Ltd. (NASDAQ:CGNT)

Millennium Management LLC increased its stake in shares of Cognyte Software Ltd. (NASDAQ:CGNT - Free Report) by 80.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 456,546 shares of the company's stock after acquiring an additional 204,099 shares during the quarter. Millennium Management LLC owned about 0.64% of Cognyte Software worth $3,949,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of CGNT. D. E. Shaw & Co. Inc. raised its position in shares of Cognyte Software by 8.9% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 818,729 shares of the company's stock valued at $7,082,000 after buying an additional 66,712 shares during the last quarter. Bank of America Corp DE increased its stake in 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 acquiring an additional 8,007 shares during the period. BNP Paribas Financial Markets acquired a new position in Cognyte Software in the 4th quarter valued at approximately $312,000. Algert Global LLC raised its holdings in Cognyte Software by 16.4% in the 4th quarter. Algert Global LLC now owns 30,858 shares of the company's stock valued at $267,000 after acquiring an additional 4,340 shares in the last quarter. Finally, Jane Street Group LLC bought a new stake in shares of Cognyte Software in the 4th quarter worth approximately $112,000. 72.92% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CGNT. Wall Street Zen upgraded Cognyte Software from a "buy" rating to a "strong-buy" rating in a research report on Saturday, April 12th. Needham & Company LLC reiterated a "hold" rating on shares of Cognyte Software in a research note on Thursday, May 22nd.

Cognyte Software Stock Performance

NASDAQ CGNT traded down $0.04 during trading on Tuesday, reaching $11.06. 255,539 shares of the company traded hands, compared to its average volume of 289,786. Cognyte Software Ltd. has a 1-year low of $6.21 and a 1-year high of $11.20. The company has a market cap of $796.95 million, a price-to-earnings ratio of -58.21 and a beta of 1.72. The stock's 50 day moving average price is $9.76 and its two-hundred day moving average price is $9.21.

Cognyte Software (NASDAQ:CGNT - Get Free Report) last posted its earnings results on Wednesday, April 2nd. The company reported $0.03 EPS for the quarter, topping the consensus estimate of $0.01 by $0.02. Cognyte Software had a negative return on equity of 13.30% and a negative net margin of 3.95%. The business had revenue of $94.51 million during the quarter, compared to the consensus estimate of $93.15 million. During the same quarter last year, the company earned ($0.23) EPS. Equities research analysts expect that Cognyte Software Ltd. will post -0.2 EPS for the current fiscal year.

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.