Phoenix Financial Ltd. Decreases Stock Position in Cognyte Software Ltd. $CGNT

Phoenix Financial Ltd. lessened its stake in Cognyte Software Ltd. (NASDAQ:CGNT) by 61.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 84,181 shares of the company’s stock after selling 134,800 shares during the quarter. Phoenix Financial Ltd. owned about 0.12% of Cognyte Software worth $791,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. State of Alaska Department of Revenue purchased a new position in Cognyte Software in the 3rd quarter worth approximately $27,000. Osaic Holdings Inc. boosted its holdings in Cognyte Software by 79.4% in the 2nd quarter. Osaic Holdings Inc. now owns 3,634 shares of the company’s stock worth $34,000 after acquiring an additional 1,608 shares during the period. Quarry LP purchased a new position in Cognyte Software in the 3rd quarter worth approximately $33,000. Vanguard Personalized Indexing Management LLC boosted its holdings in Cognyte Software by 16.0% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 13,398 shares of the company’s stock worth $113,000 after acquiring an additional 1,849 shares during the period. Finally, Cornerstone Investment Partners LLC purchased a new position in Cognyte Software in the 3rd quarter worth approximately $159,000. Hedge funds and other institutional investors own 72.92% of the company’s stock.

Cognyte Software Stock Up 1.3%

Shares of CGNT opened at $9.79 on Friday. The business’s 50 day moving average is $9.07 and its two-hundred day moving average is $8.73. Cognyte Software Ltd. has a 52-week low of $6.29 and a 52-week high of $11.65. The firm has a market cap of $715.45 million, a price-to-earnings ratio of -979.00 and a beta of 1.58.

Cognyte Software (NASDAQ:CGNT) last announced its earnings results on Wednesday, March 25th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.09. Cognyte Software had a positive return on equity of 0.74% and a negative net margin of 0.16%.The company had revenue of $106.24 million for the quarter, compared to analyst estimates of $106.20 million. On average, equities analysts expect that Cognyte Software Ltd. will post 0.17 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Wall Street Zen cut Cognyte Software from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 9th. Zacks Research upgraded Cognyte Software from a “hold” rating to a “strong-buy” rating in a report on Wednesday, April 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Cognyte Software in a report on Wednesday, January 21st. Finally, Lake Street Capital assumed coverage on Cognyte Software in a report on Monday, March 2nd. They issued a “buy” rating and a $13.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $13.50.

Cognyte Software Company Profile

Cognyte Software Ltd. is a global provider of security analytics solutions that was spun off from NICE Ltd. in early 2021. Headquartered in Israel, the company delivers specialized software and services designed to help government agencies, law enforcement organizations and critical infrastructure operators process and analyze large volumes of data for intelligence and investigative purposes.

The company’s core offerings include advanced analytics platforms that aggregate and visualize structured and unstructured data from diverse sources, such as communications metadata, open-source intelligence and sensor feeds.