Cognyte Software (NASDAQ:CGNT) Shares Gap Up – What’s Next?

Cognyte Software Ltd. (NASDAQ:CGNT) gapped up before the market opened on Thursday . The stock had previously closed at $8.10, but opened at $8.36. Cognyte Software shares last traded at $8.15, with a volume of 51,140 shares.

Wall Street Analyst Weigh In

CGNT has been the topic of a number of recent analyst reports. StockNews.com lowered Cognyte Software from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Needham & Company LLC restated a “hold” rating on shares of Cognyte Software in a research report on Thursday, December 12th.

Cognyte Software Stock Down 1.9 %

The firm has a market capitalization of $571.56 million, a price-to-earnings ratio of -41.84 and a beta of 1.77. The company’s fifty day moving average is $9.20 and its two-hundred day moving average is $8.17.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. American Capital Management Inc. increased its position in shares of Cognyte Software by 8.5% in the 3rd quarter. American Capital Management Inc. now owns 6,402,813 shares of the company’s stock valued at $43,475,000 after buying an additional 502,781 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in Cognyte Software during the third quarter worth $1,101,000. Value Base Ltd. acquired a new stake in Cognyte Software in the 4th quarter valued at $49,471,000. William Blair Investment Management LLC grew its holdings in shares of Cognyte Software by 2.5% in the 4th quarter. William Blair Investment Management LLC now owns 2,742,843 shares of the company’s stock valued at $23,726,000 after acquiring an additional 67,024 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in Cognyte Software by 41.3% during the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 51,448 shares of the company’s stock valued at $445,000 after purchasing an additional 15,036 shares during the last quarter. Institutional investors own 72.92% of the company’s stock.

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.