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

Cognyte Software Ltd. (NASDAQ:CGNT)’s share price 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.

Analyst Upgrades and Downgrades

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

Cognyte Software Trading Up 0.7 %

The business’s fifty day moving average price is $9.26 and its two-hundred day moving average price is $8.17. The firm has a market cap of $586.44 million, a P/E ratio of -42.97 and a beta of 1.77.

Institutional Trading of Cognyte Software

Several large investors have recently made changes to their positions in the stock. American Capital Management Inc. boosted its position in Cognyte Software by 8.5% during the third quarter. American Capital Management Inc. now owns 6,402,813 shares of the company’s stock worth $43,475,000 after purchasing an additional 502,781 shares during the period. Edenbrook Capital LLC lifted its stake in shares of Cognyte Software by 3.4% in the third quarter. Edenbrook Capital LLC now owns 6,283,226 shares of the company’s stock worth $42,663,000 after buying an additional 207,675 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of Cognyte Software during the 3rd quarter worth $1,101,000. Value Base Ltd. acquired a new position in Cognyte Software in the 4th quarter valued at $49,471,000. Finally, William Blair Investment Management LLC raised its holdings in 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 worth $23,726,000 after acquiring an additional 67,024 shares during the period. Institutional investors own 72.92% of the company’s stock.

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.