Cognyte Software (NASDAQ:CGNT) Stock 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 Monday . The stock has a 200-day moving average of $8.01 and traded as high as $9.18. Cognyte Software shares last traded at $9.00, with a volume of 253,849 shares trading hands.

Analyst Upgrades and Downgrades

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

Cognyte Software Stock Down 1.5 %

The stock has a market capitalization of $647.05 million, a price-to-earnings ratio of -47.37 and a beta of 1.77. The firm has a 50-day moving average of $9.39 and a two-hundred day moving average of $8.01.

Cognyte Software announced that its board has initiated a stock repurchase program on Tuesday, November 12th that authorizes the company to buyback $20.00 million in shares. This buyback authorization authorizes the company to buy up to 3.7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its stock is undervalued.

Institutional Trading of Cognyte Software

Large investors have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio raised its holdings in Cognyte Software by 3.7% in the 4th quarter. Public Employees Retirement System of Ohio now owns 168,122 shares of the company’s stock valued at $1,454,000 after acquiring an additional 6,009 shares in the last quarter. Man Group plc boosted its position in shares of Cognyte Software by 88.3% in the 4th quarter. Man Group plc now owns 79,035 shares of the company’s stock worth $684,000 after purchasing an additional 37,070 shares during the last quarter. Millennium Management LLC boosted its position in shares of Cognyte Software by 80.8% in the 4th quarter. Millennium Management LLC now owns 456,546 shares of the company’s stock worth $3,949,000 after purchasing an additional 204,099 shares during the last quarter. D. E. Shaw & Co. Inc. raised its stake in Cognyte Software by 8.9% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 818,729 shares of the company’s stock worth $7,082,000 after buying an additional 66,712 shares during the period. Finally, Bank of America Corp DE raised its stake in Cognyte Software by 149.3% during the 4th quarter. Bank of America Corp DE now owns 13,369 shares of the company’s stock worth $116,000 after buying an additional 8,007 shares during the period. Institutional investors own 72.92% of the company’s stock.

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.