Cognyte Software (NASDAQ:CGNT) Shares Gap Up – What’s Next?

Cognyte Software Ltd. (NASDAQ:CGNT)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $8.25, but opened at $8.63. Cognyte Software shares last traded at $8.50, with a volume of 34,850 shares.

Wall Street Analysts Forecast Growth

CGNT has been the topic of a number of research reports. Roth Capital initiated coverage on shares of Cognyte Software in a report on Friday. They set a “buy” rating and a $14.00 target price on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Cognyte Software in a report on Saturday, September 27th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Cognyte Software in a report on Monday, July 28th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Cognyte Software presently has a consensus rating of “Hold” and a consensus target price of $14.00.

Cognyte Software Trading Up 2.3%

The firm has a market capitalization of $615.87 million, a price-to-earnings ratio of -140.64 and a beta of 1.63. The stock has a fifty day moving average of $8.71 and a 200-day moving average of $9.24.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Osaic Holdings Inc. increased its position in shares of Cognyte Software by 79.4% in the second quarter. Osaic Holdings Inc. now owns 3,634 shares of the company’s stock worth $34,000 after acquiring an additional 1,608 shares in the last quarter. Signaturefd LLC increased its position in shares of Cognyte Software by 119.2% in the first quarter. Signaturefd LLC now owns 3,968 shares of the company’s stock worth $31,000 after acquiring an additional 2,158 shares in the last quarter. Virtus Advisers LLC purchased a new position in shares of Cognyte Software in the second quarter worth approximately $38,000. Corton Capital Inc. purchased a new position in shares of Cognyte Software in the second quarter worth approximately $95,000. Finally, R Squared Ltd purchased a new position in shares of Cognyte Software in the second quarter worth approximately $110,000. 72.92% of the stock is currently owned by institutional investors and hedge funds.

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.