Acadian Asset Management LLC Boosts Holdings in Cognyte Software Ltd. (NASDAQ:CGNT)

Acadian Asset Management LLC lifted its stake in shares of Cognyte Software Ltd. (NASDAQ:CGNT) by 30.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,304,970 shares of the medical device company’s stock after acquiring an additional 536,393 shares during the period. Acadian Asset Management LLC’s holdings in Cognyte Software were worth $19,041,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Legato Capital Management LLC acquired a new position in shares of Cognyte Software in the 4th quarter valued at $864,000. Silverberg Bernstein Capital Management LLC purchased a new stake in Cognyte Software during the fourth quarter valued at about $597,000. Mackenzie Financial Corp increased its stake in Cognyte Software by 56.1% during the fourth quarter. Mackenzie Financial Corp now owns 21,986 shares of the medical device company’s stock worth $141,000 after acquiring an additional 7,899 shares during the last quarter. New York State Common Retirement Fund raised its holdings in shares of Cognyte Software by 108.5% in the 4th quarter. New York State Common Retirement Fund now owns 93,978 shares of the medical device company’s stock worth $604,000 after purchasing an additional 48,913 shares during the period. Finally, Russell Investments Group Ltd. lifted its stake in shares of Cognyte Software by 8,624.3% in the 4th quarter. Russell Investments Group Ltd. now owns 20,066 shares of the medical device company’s stock valued at $129,000 after purchasing an additional 19,836 shares in the last quarter. 72.92% of the stock is currently owned by hedge funds and other institutional investors.

Cognyte Software Price Performance

CGNT traded up $0.22 during trading hours on Monday, reaching $7.57. 99,762 shares of the stock traded hands, compared to its average volume of 349,259. Cognyte Software Ltd. has a fifty-two week low of $4.00 and a fifty-two week high of $8.70. The company has a market cap of $537.62 million, a price-to-earnings ratio of -43.24 and a beta of 1.74. The firm’s fifty day simple moving average is $7.67 and its two-hundred day simple moving average is $7.34.

Cognyte Software (NASDAQ:CGNT) last announced its earnings results on Tuesday, June 18th. The medical device company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.03. The company had revenue of $82.70 million during the quarter, compared to the consensus estimate of $82.05 million. Cognyte Software had a negative return on equity of 5.94% and a negative net margin of 3.70%. The company’s revenue was up 12.7% on a year-over-year basis. During the same period last year, the firm earned ($0.25) earnings per share. On average, research analysts predict that Cognyte Software Ltd. will post -0.31 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CGNT has been the subject of a number of research analyst reports. StockNews.com raised shares of Cognyte Software from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 21st. Evercore ISI increased their price objective on shares of Cognyte Software from $5.00 to $7.50 and gave the stock an “in-line” rating in a research report on Wednesday, April 10th. Wedbush lifted their target price on shares of Cognyte Software from $8.00 to $9.00 and gave the company a “neutral” rating in a report on Thursday, June 20th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Cognyte Software in a report on Tuesday, June 18th.

Cognyte Software 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.