Covestor Ltd Makes New $73,000 Investment in Cognyte Software Ltd. (NASDAQ:CGNT)

Covestor Ltd acquired a new position in shares of Cognyte Software Ltd. (NASDAQ:CGNT) in the first quarter, HoldingsChannel.com reports. The fund acquired 8,862 shares of the medical device company’s stock, valued at approximately $73,000.

A number of other large investors also recently bought and sold shares of the company. Tower Research Capital LLC TRC purchased a new position in shares of Cognyte Software in the 4th quarter valued at about $37,000. Russell Investments Group Ltd. increased its holdings 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. Mackenzie Financial Corp increased its holdings in shares of Cognyte Software by 56.1% in the 4th quarter. Mackenzie Financial Corp now owns 21,986 shares of the medical device company’s stock valued at $141,000 after purchasing an additional 7,899 shares in the last quarter. Quadrature Capital Ltd purchased a new position in shares of Cognyte Software in the 4th quarter valued at about $144,000. Finally, Hillsdale Investment Management Inc. increased its holdings in shares of Cognyte Software by 32.8% in the 4th quarter. Hillsdale Investment Management Inc. now owns 28,339 shares of the medical device company’s stock valued at $182,000 after purchasing an additional 7,000 shares in the last quarter. Hedge funds and other institutional investors own 72.92% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on CGNT shares. Needham & Company LLC reiterated a “hold” rating on shares of Cognyte Software in a report on Tuesday, June 18th. Wedbush increased their price target 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. StockNews.com upgraded shares of Cognyte Software from a “buy” rating to a “strong-buy” rating in a report on Friday, June 21st. Finally, Evercore ISI raised their target price on shares of Cognyte Software from $5.00 to $7.50 and gave the company an “in-line” rating in a report on Wednesday, April 10th.

Cognyte Software Stock Performance

NASDAQ:CGNT opened at $7.35 on Thursday. The firm has a 50-day moving average price of $7.66 and a two-hundred day moving average price of $7.36. Cognyte Software Ltd. has a twelve month low of $4.00 and a twelve month high of $8.70.

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

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.