Cognyte Software (NASDAQ:CGNT) Share Price Passes Above 200-Day Moving Average – What’s Next?

Cognyte Software Ltd. (NASDAQ:CGNT)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $9.42 and traded as high as $9.45. Cognyte Software shares last traded at $9.09, with a volume of 296,557 shares trading hands.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on CGNT shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Cognyte Software in a report on Wednesday, June 11th. Wall Street Zen upgraded Cognyte Software from a “buy” rating to a “strong-buy” rating in a research report on Saturday, April 12th.

Cognyte Software Trading Down 3.7%

The stock has a market cap of $655.03 million, a price-to-earnings ratio of -82.64 and a beta of 1.65. The firm’s 50 day moving average is $9.98 and its two-hundred day moving average is $9.42.

Cognyte Software (NASDAQ:CGNT) last posted its quarterly earnings data on Wednesday, June 11th. The company reported $0.07 earnings per share for the quarter. Cognyte Software had a negative net margin of 2.18% and a negative return on equity of 3.53%. The business had revenue of $95.55 million during the quarter, compared to analyst estimates of $93.96 million. As a group, equities analysts expect that Cognyte Software Ltd. will post -0.2 EPS for the current fiscal year.

Institutional Investors Weigh In On Cognyte Software

Several hedge funds have recently modified their holdings of CGNT. SG Americas Securities LLC purchased a new stake in shares of Cognyte Software during the 1st quarter worth about $663,000. Bank of America Corp DE increased its position in shares of Cognyte Software by 149.3% in the fourth quarter. Bank of America Corp DE now owns 13,369 shares of the company’s stock worth $116,000 after acquiring an additional 8,007 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of Cognyte Software in the fourth quarter worth $71,000. JPMorgan Chase & Co. raised its stake in shares of Cognyte Software by 6.8% in 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 during the period. Finally, Millennium Management LLC lifted its holdings in shares of Cognyte Software by 80.8% during the 4th quarter. Millennium Management LLC now owns 456,546 shares of the company’s stock valued at $3,949,000 after acquiring an additional 204,099 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.