Cognyte Software (NASDAQ:CGNT) Share Price Crosses Above 200-Day Moving Average – Should You Sell?

Cognyte Software Ltd. (NASDAQ:CGNT) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $7.86 and traded as high as $10.91. Cognyte Software shares last traded at $10.80, with a volume of 237,858 shares traded.

Analyst Ratings Changes

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

Cognyte Software Trading Up 0.4 %

The firm’s 50-day moving average is $9.22 and its two-hundred day moving average is $7.86. The stock has a market cap of $776.41 million, a price-to-earnings ratio of -56.84 and a beta of 1.77.

Cognyte Software announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, November 12th that allows the company to buyback $20.00 million in shares. This buyback authorization allows the company to buy up to 3.7% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Institutional Trading of Cognyte Software

Several large investors have recently bought and sold shares of the business. Trexquant Investment LP grew its stake in Cognyte Software by 72.6% during the 4th quarter. Trexquant Investment LP now owns 135,907 shares of the company’s stock valued at $1,176,000 after acquiring an additional 57,168 shares in the last quarter. Geode Capital Management LLC grew its stake in Cognyte Software by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 99,980 shares of the company’s stock valued at $865,000 after acquiring an additional 1,440 shares in the last quarter. Scalar Gauge Management LLC grew its stake in Cognyte Software by 2.3% during the 4th quarter. Scalar Gauge Management LLC now owns 450,032 shares of the company’s stock valued at $3,893,000 after acquiring an additional 10,000 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Cognyte Software by 6.8% during the 4th quarter. JPMorgan Chase & Co. now owns 413,448 shares of the company’s stock valued at $3,576,000 after acquiring an additional 26,487 shares in the last quarter. Finally, Fox Run Management L.L.C. purchased a new stake in Cognyte Software during the 4th quarter valued at about $310,000. Hedge funds and other institutional investors own 72.92% of the company’s stock.

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.