Cognyte Software Ltd. (NASDAQ:CGNT) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. reduced its position in shares of Cognyte Software Ltd. (NASDAQ:CGNT) by 14.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 386,961 shares of the company’s stock after selling 63,655 shares during the period. JPMorgan Chase & Co. owned approximately 0.54% of Cognyte Software worth $2,627,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Magnetar Financial LLC acquired a new position in shares of Cognyte Software in the 2nd quarter worth approximately $117,000. State of New Jersey Common Pension Fund D boosted its holdings in Cognyte Software by 34.4% during the third quarter. State of New Jersey Common Pension Fund D now owns 23,186 shares of the company’s stock worth $157,000 after buying an additional 5,940 shares in the last quarter. XTX Topco Ltd acquired a new position in Cognyte Software in the third quarter worth approximately $169,000. Centiva Capital LP bought a new position in shares of Cognyte Software in the third quarter valued at $172,000. Finally, Tidal Investments LLC lifted its position in shares of Cognyte Software by 4.6% during the 3rd quarter. Tidal Investments LLC now owns 59,902 shares of the company’s stock valued at $407,000 after acquiring an additional 2,648 shares during the last quarter. 72.92% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently 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 cut Cognyte Software from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th.

Cognyte Software Stock Performance

Cognyte Software stock opened at $9.66 on Tuesday. The company has a 50 day moving average price of $8.49 and a 200 day moving average price of $7.59. Cognyte Software Ltd. has a 52 week low of $5.68 and a 52 week high of $9.97. The firm has a market capitalization of $694.46 million, a price-to-earnings ratio of -50.84 and a beta of 1.76.

Cognyte Software declared that its board has authorized a stock repurchase plan on Tuesday, November 12th that allows the company to buyback $20.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 3.7% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are 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.