Cognyte Software’s (CGNT) “Hold” Rating Reaffirmed at Needham & Company LLC

Cognyte Software (NASDAQ:CGNT)‘s stock had its “hold” rating reiterated by equities research analysts at Needham & Company LLC in a report released on Wednesday,Benzinga reports.

Separately, StockNews.com lowered Cognyte Software from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th.

Cognyte Software Stock Up 17.6 %

CGNT traded up $1.45 on Wednesday, reaching $9.67. 1,371,437 shares of the company traded hands, compared to its average volume of 324,734. The company has a market cap of $695.21 million, a P/E ratio of -50.89 and a beta of 1.77. The firm has a fifty day simple moving average of $9.13 and a two-hundred day simple moving average of $8.21. Cognyte Software has a one year low of $6.21 and a one year high of $11.12.

Hedge Funds Weigh In On Cognyte Software

Institutional investors have recently bought and sold shares of the business. Public Employees Retirement System of Ohio boosted its position in Cognyte Software by 3.7% during the 4th quarter. Public Employees Retirement System of Ohio now owns 168,122 shares of the company’s stock valued at $1,454,000 after acquiring an additional 6,009 shares in the last quarter. Man Group plc boosted its position in Cognyte Software by 88.3% during the fourth quarter. Man Group plc now owns 79,035 shares of the company’s stock valued at $684,000 after purchasing an additional 37,070 shares in the last quarter. Millennium Management LLC grew its stake in Cognyte Software by 80.8% in the fourth quarter. Millennium Management LLC now owns 456,546 shares of the company’s stock valued at $3,949,000 after purchasing an additional 204,099 shares during the last quarter. D. E. Shaw & Co. Inc. raised its holdings in Cognyte Software by 8.9% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 818,729 shares of the company’s stock worth $7,082,000 after purchasing an additional 66,712 shares in the last quarter. Finally, Bank of America Corp DE lifted its position in shares of Cognyte Software by 149.3% during the fourth quarter. Bank of America Corp DE now owns 13,369 shares of the company’s stock valued at $116,000 after buying an additional 8,007 shares during the last quarter. 72.92% of the stock is owned by hedge funds and other institutional investors.

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.