Cognyte Software Ltd. (NASDAQ:CGNT) Shares Sold by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. trimmed its stake in shares of Cognyte Software Ltd. (NASDAQ:CGNTGet Rating) by 61.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 25,312 shares of the medical device company’s stock after selling 40,486 shares during the period. Oppenheimer & Co. Inc.’s holdings in Cognyte Software were worth $108,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of CGNT. Global Alpha Capital Management Ltd. lifted its position in shares of Cognyte Software by 293.1% during the 1st quarter. Global Alpha Capital Management Ltd. now owns 3,921,957 shares of the medical device company’s stock valued at $44,357,000 after acquiring an additional 2,924,147 shares during the period. Victory Capital Management Inc. increased its stake in shares of Cognyte Software by 40.6% during the 1st quarter. Victory Capital Management Inc. now owns 5,959,699 shares of the medical device company’s stock worth $67,404,000 after purchasing an additional 1,720,670 shares in the last quarter. Cardinal Capital Management LLC CT increased its stake in shares of Cognyte Software by 93.0% during the 1st quarter. Cardinal Capital Management LLC CT now owns 3,141,032 shares of the medical device company’s stock worth $35,525,000 after purchasing an additional 1,513,831 shares in the last quarter. William Blair Investment Management LLC increased its stake in shares of Cognyte Software by 65.9% during the 1st quarter. William Blair Investment Management LLC now owns 3,220,053 shares of the medical device company’s stock worth $36,419,000 after purchasing an additional 1,278,641 shares in the last quarter. Finally, Edenbrook Capital LLC increased its stake in shares of Cognyte Software by 144.0% during the 1st quarter. Edenbrook Capital LLC now owns 1,967,866 shares of the medical device company’s stock worth $22,256,000 after purchasing an additional 1,161,200 shares in the last quarter. 88.90% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Stifel Nicolaus cut shares of Cognyte Software from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $8.00 to $6.00 in a research note on Wednesday, September 28th. StockNews.com raised shares of Cognyte Software from a “sell” rating to a “hold” rating in a research note on Tuesday, October 25th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $11.50.

Cognyte Software Stock Performance

CGNT stock opened at $3.13 on Monday. The stock has a market capitalization of $211.22 million, a P/E ratio of -3.01 and a beta of 1.33. Cognyte Software Ltd. has a one year low of $2.55 and a one year high of $24.24. The company has a 50 day moving average price of $3.59 and a two-hundred day moving average price of $4.86.

Cognyte Software (NASDAQ:CGNTGet Rating) last released its earnings results on Wednesday, September 28th. The medical device company reported ($0.43) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.18). The firm had revenue of $81.10 million during the quarter, compared to analysts’ expectations of $92.47 million. Cognyte Software had a negative return on equity of 34.07% and a negative net margin of 16.91%. The firm’s revenue was down 30.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.17 earnings per share. Research analysts forecast that Cognyte Software Ltd. will post -1.35 earnings per share for the current fiscal year.

About Cognyte Software

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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.

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

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