Walleye Capital LLC Buys New Position in Cognyte Software Ltd. (NASDAQ:CGNT)

Walleye Capital LLC bought a new stake in shares of Cognyte Software Ltd. (NASDAQ:CGNTGet Rating) during the 1st quarter, Holdings Channel reports. The institutional investor bought 66,282 shares of the medical device company’s stock, valued at approximately $750,000.

Other hedge funds also recently added to or reduced their stakes in the company. Davy Global Fund Management Ltd increased its position in Cognyte Software by 25.1% during the 1st quarter. Davy Global Fund Management Ltd now owns 97,635 shares of the medical device company’s stock valued at $1,104,000 after buying an additional 19,581 shares in the last quarter. Legal & General Group Plc increased its position in Cognyte Software by 12,647.2% during the 4th quarter. Legal & General Group Plc now owns 3,962,838 shares of the medical device company’s stock valued at $62,097,000 after buying an additional 3,931,750 shares in the last quarter. Cowen Prime Advisors LLC increased its position in Cognyte Software by 73.1% during the 1st quarter. Cowen Prime Advisors LLC now owns 23,200 shares of the medical device company’s stock valued at $262,000 after buying an additional 9,800 shares in the last quarter. King Luther Capital Management Corp increased its position in Cognyte Software by 11.3% during the 1st quarter. King Luther Capital Management Corp now owns 465,280 shares of the medical device company’s stock valued at $5,262,000 after buying an additional 47,165 shares in the last quarter. Finally, Boulder Hill Capital Management LP acquired a new position in Cognyte Software during the 1st quarter valued at about $248,000. 88.90% of the stock is owned by institutional investors and hedge funds.

Cognyte Software Stock Performance

Shares of CGNT stock opened at $5.21 on Wednesday. The stock’s 50-day simple moving average is $4.84 and its 200-day simple moving average is $6.71. The firm has a market capitalization of $351.58 million, a PE ratio of -8.54 and a beta of 1.88. Cognyte Software Ltd. has a fifty-two week low of $3.91 and a fifty-two week high of $24.81.

Cognyte Software (NASDAQ:CGNTGet Rating) last issued its earnings results on Tuesday, June 28th. The medical device company reported ($0.85) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.81). Cognyte Software had a negative return on equity of 23.12% and a negative net margin of 9.17%. The company had revenue of $86.40 million during the quarter, compared to analysts’ expectations of $112.60 million. During the same quarter in the previous year, the company earned $0.07 EPS. The firm’s quarterly revenue was down 24.7% compared to the same quarter last year. Sell-side analysts forecast that Cognyte Software Ltd. will post -1.08 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. StockNews.com lowered Cognyte Software from a “hold” rating to a “sell” rating in a report on Friday, September 16th. William Blair lowered Cognyte Software from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 28th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $13.25.

Cognyte Software Profile

(Get Rating)

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 also offers network intelligence analytics, open source and threat intelligence analytics, and operational intelligence analytics solutions.

See Also

Want to see what other hedge funds are holding CGNT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cognyte Software Ltd. (NASDAQ:CGNTGet Rating).

Institutional Ownership by Quarter for Cognyte Software (NASDAQ:CGNT)

Receive News & Ratings for Cognyte Software Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cognyte Software and related companies with MarketBeat.com's FREE daily email newsletter.