Stephens Inc. AR Decreases Stake in Cognyte Software Ltd. (NASDAQ:CGNT)

Stephens Inc. AR lessened its position in shares of Cognyte Software Ltd. (NASDAQ:CGNT) by 25.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,250 shares of the company’s stock after selling 6,425 shares during the period. Stephens Inc. AR’s holdings in Cognyte Software were worth $167,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Angeles Wealth Management LLC purchased a new stake in shares of Cognyte Software during the 3rd quarter worth $437,000. State of New Jersey Common Pension Fund D raised its stake in Cognyte Software by 34.4% in the third quarter. State of New Jersey Common Pension Fund D now owns 23,186 shares of the company’s stock valued at $157,000 after buying an additional 5,940 shares in the last quarter. Edenbrook Capital LLC lifted its holdings in Cognyte Software by 3.4% during the 3rd quarter. Edenbrook Capital LLC now owns 6,283,226 shares of the company’s stock worth $42,663,000 after buying an additional 207,675 shares during the last quarter. Scalar Gauge Management LLC boosted its position in shares of Cognyte Software by 3.5% during the 3rd quarter. Scalar Gauge Management LLC now owns 440,032 shares of the company’s stock worth $2,988,000 after acquiring an additional 15,000 shares in the last quarter. Finally, American Capital Management Inc. increased its holdings in shares of Cognyte Software by 8.5% in the 3rd quarter. American Capital Management Inc. now owns 6,402,813 shares of the company’s stock valued at $43,475,000 after acquiring an additional 502,781 shares during the last quarter. 72.92% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CGNT has been the subject of several recent analyst reports. StockNews.com cut Cognyte Software from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Needham & Company LLC reissued a “hold” rating on shares of Cognyte Software in a report on Thursday, December 12th.

Cognyte Software Stock Performance

Shares of CGNT stock opened at $10.34 on Monday. The stock’s 50-day moving average is $9.29 and its two-hundred day moving average is $7.90. Cognyte Software Ltd. has a 1 year low of $6.21 and a 1 year high of $11.12. The firm has a market cap of $743.34 million, a price-to-earnings ratio of -54.42 and a beta of 1.77.

Cognyte Software declared that its board has initiated a share repurchase program on Tuesday, November 12th that permits the company to buyback $20.00 million in outstanding shares. This buyback authorization permits the company to buy up to 3.7% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

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.