Cognyte Software (NASDAQ:CGNT) Shares Gap Up – Still a Buy?

Cognyte Software Ltd. (NASDAQ:CGNT) shares gapped up prior to trading 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 changing hands.

Wall Street Analyst Weigh In

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

Cognyte Software Stock Down 1.9 %

The company has a market capitalization of $571.56 million, a P/E ratio of -41.84 and a beta of 1.77. The firm has a 50-day moving average price of $9.20 and a two-hundred day moving average price of $8.17.

Institutional Investors Weigh In On Cognyte Software

A number of institutional investors have recently added to or reduced their stakes in CGNT. Barclays PLC lifted its position in shares of Cognyte Software by 70.0% in the 4th quarter. Barclays PLC now owns 2,943 shares of the company’s stock worth $25,000 after acquiring an additional 1,212 shares during the period. Geode Capital Management LLC increased its holdings in Cognyte Software by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 99,980 shares of the company’s stock valued at $865,000 after buying an additional 1,440 shares during the period. Tidal Investments LLC boosted its position in shares of Cognyte Software by 4.6% during the 3rd quarter. Tidal Investments LLC now owns 59,902 shares of the company’s stock valued at $407,000 after acquiring an additional 2,648 shares in the last quarter. R Squared Ltd acquired a new position in Cognyte Software in the fourth quarter worth about $26,000. Finally, Russell Investments Group Ltd. boosted its holdings in Cognyte Software by 1,695.7% during the fourth quarter. Russell Investments Group Ltd. now owns 4,130 shares of the company’s stock valued at $36,000 after purchasing an additional 3,900 shares in the last quarter. 72.92% of the stock is owned by institutional investors and hedge funds.

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.