Public Employees Retirement System of Ohio Takes $2.18 Million Position in Cognyte Software Ltd. $CGNT

Key Points

• Public Employees Retirement System of Ohio acquired 248,550 Cognyte Software shares worth approximately $2.18 million, representing about 0.34% of the company.
• Institutional ownership stands at 72.92%, with several major investment firms—including Millennium Management, JPMorgan Chase and Marshall Wace—also increasing their positions.
• Analyst sentiment is mixed, with Cognyte carrying a consensus “Hold” rating and an average price target of $13.50; the stock recently opened at $8.47.

Public Employees Retirement System of Ohio bought a new position in shares of Cognyte Software Ltd. (NASDAQ:CGNT - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 248,550 shares of the company's stock, valued at approximately $2,182,000. Public Employees Retirement System of Ohio owned approximately 0.34% of Cognyte Software as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Millennium Management LLC grew 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 worth $7,190,000 after buying an additional 465,307 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Cognyte Software by 52.6% in the first quarter. Goldman Sachs Group Inc. now owns 131,140 shares of the company's stock valued at $1,023,000 after buying an additional 45,229 shares in the last quarter. JPMorgan Chase & Co. grew its position in Cognyte Software by 36.3% in the second quarter. JPMorgan Chase & Co. now owns 582,139 shares of the company's stock valued at $5,379,000 after acquiring an additional 154,955 shares during the last quarter. Marshall Wace LLP raised its stake in Cognyte Software by 77.5% during the second quarter. Marshall Wace LLP now owns 756,876 shares of the company's stock worth $6,994,000 after acquiring an additional 330,569 shares in the last quarter. Finally, Qube Research & Technologies Ltd raised its stake in Cognyte Software by 25.4% during the second quarter. Qube Research & Technologies Ltd now owns 224,053 shares of the company's stock worth $2,070,000 after acquiring an additional 45,449 shares in the last quarter. Institutional investors and hedge funds own 72.92% of the company's stock.

Analyst Ratings Changes

CGNT has been the topic of a number of research analyst reports. Zacks Research upgraded shares of Cognyte Software from a "strong sell" rating to a "hold" rating in a research note on Monday, August 3rd. Wall Street Zen cut shares of Cognyte Software from a "buy" rating to a "hold" rating in a research report on Saturday, June 6th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $13.50.

Cognyte Software Price Performance

NASDAQ:CGNT opened at $8.47 on Monday. The firm's 50 day simple moving average is $8.85 and its 200 day simple moving average is $8.89. Cognyte Software Ltd. has a one year low of $6.29 and a one year high of $12.31. The company has a market cap of $625.93 million, a PE ratio of -211.75 and a beta of 1.67.

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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