Cognyte Software Ltd. $CGNT Holdings Lifted by Trexquant Investment LP

Key Points

• Trexquant Investment LP increased its holdings in Cognyte Software Ltd. (NASDAQ:CGNT) by 50.1%, now owning 203,985 shares worth approximately $1.59 million.
• Other institutional investors have also increased their stakes, with 72.92% of the stock currently owned by such investors, highlighting growing confidence in the company.
• Cognyte Software reported a revenue of $95.55 million for the last quarter, exceeding analysts' expectations, despite a negative net margin of 2.18%.

Trexquant Investment LP boosted its holdings in Cognyte Software Ltd. (NASDAQ:CGNT - Free Report) by 50.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 203,985 shares of the company's stock after acquiring an additional 68,078 shares during the quarter. Trexquant Investment LP owned 0.28% of Cognyte Software worth $1,591,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Millennium Management LLC raised its stake in shares of Cognyte Software by 80.8% in the 4th quarter. Millennium Management LLC now owns 456,546 shares of the company's stock worth $3,949,000 after buying an additional 204,099 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Cognyte Software by 14.1% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 908,077 shares of the company's stock worth $7,083,000 after buying an additional 112,530 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Cognyte Software in the 1st quarter worth $663,000. Y Intercept Hong Kong Ltd bought a new stake in shares of Cognyte Software in the 1st quarter worth $610,000. Finally, D. E. Shaw & Co. Inc. raised its stake in shares of Cognyte Software by 8.9% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 818,729 shares of the company's stock worth $7,082,000 after buying an additional 66,712 shares in the last quarter. 72.92% of the stock is currently owned by institutional investors and hedge funds.

Cognyte Software Trading Up 5.6%

Shares of NASDAQ CGNT traded up $0.46 during mid-day trading on Thursday, reaching $8.72. The company had a trading volume of 444,542 shares, compared to its average volume of 266,969. The stock has a market cap of $636.30 million, a PE ratio of -145.31 and a beta of 1.65. The company has a 50-day moving average price of $8.94 and a two-hundred day moving average price of $9.26. Cognyte Software Ltd. has a 1-year low of $6.24 and a 1-year high of $11.65.

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 analysts' expectations of $93.96 million. Cognyte Software had a negative return on equity of 2.05% and a negative net margin of 1.20%. On average, research analysts expect that Cognyte Software Ltd. will post -0.2 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Needham & Company LLC reissued a "hold" rating on shares of Cognyte Software in a research note on Monday, July 28th. One research analyst has rated the stock with a Hold rating, According to 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.