Cognyte Software (NASDAQ:CGNT) Shares Gap Up – Time to Buy?

Cognyte Software Ltd. (NASDAQ:CGNT)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $8.22, but opened at $9.20. Cognyte Software shares last traded at $10.07, with a volume of 449,975 shares traded.

Analysts Set New Price Targets

Several research firms have recently issued reports on CGNT. Needham & Company LLC reissued a “hold” rating on shares of Cognyte Software in a research report on Thursday, December 12th. StockNews.com lowered shares of Cognyte Software from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th.

Cognyte Software Trading Up 20.5 %

The stock’s fifty day moving average price is $9.13 and its 200 day moving average price is $8.21. The stock has a market cap of $711.97 million, a P/E ratio of -52.41 and a beta of 1.77.

Hedge Funds Weigh In On Cognyte Software

Several large investors have recently made changes to their positions in CGNT. Barclays PLC raised its stake in Cognyte Software by 70.0% during the fourth quarter. Barclays PLC now owns 2,943 shares of the company’s stock valued at $25,000 after buying an additional 1,212 shares during the last quarter. R Squared Ltd bought a new stake in shares of Cognyte Software in the 4th quarter worth $26,000. Russell Investments Group Ltd. raised its stake in shares of Cognyte Software by 1,695.7% in the fourth quarter. Russell Investments Group Ltd. now owns 4,130 shares of the company’s stock worth $36,000 after purchasing an additional 3,900 shares during the last quarter. Quantbot Technologies LP bought a new position in shares of Cognyte Software during the fourth quarter valued at $71,000. Finally, Jane Street Group LLC bought a new stake in Cognyte Software in the 4th quarter worth about $112,000. 72.92% of the stock is currently owned by hedge funds and other institutional investors.

Cognyte Software Company 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.