Centiva Capital LP Purchases Shares of 25,338 Cognyte Software Ltd. (NASDAQ:CGNT)

Centiva Capital LP acquired a new stake in Cognyte Software Ltd. (NASDAQ:CGNT) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 25,338 shares of the company’s stock, valued at approximately $172,000.

A number of other hedge funds also recently made changes to their positions in the business. Signaturefd LLC lifted its position in shares of Cognyte Software by 91.4% during the 2nd quarter. Signaturefd LLC now owns 3,311 shares of the company’s stock valued at $25,000 after acquiring an additional 1,581 shares during the period. nVerses Capital LLC bought a new stake in shares of Cognyte Software during the 2nd quarter valued at about $28,000. DT Investment Partners LLC bought a new stake in shares of Cognyte Software during the 2nd quarter valued at about $62,000. Magnetar Financial LLC bought a new stake in shares of Cognyte Software during the 2nd quarter valued at about $117,000. Finally, State of New Jersey Common Pension Fund D boosted its holdings 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 worth $157,000 after acquiring an additional 5,940 shares in the last quarter. 72.92% of the stock is owned by institutional investors and hedge funds.

Cognyte Software Price Performance

Shares of NASDAQ:CGNT opened at $8.97 on Friday. Cognyte Software Ltd. has a 1 year low of $5.12 and a 1 year high of $9.12. The company has a market cap of $644.89 million, a PE ratio of -47.21 and a beta of 1.81. The stock’s 50-day moving average is $7.31 and its 200 day moving average is $7.36.

Cognyte Software (NASDAQ:CGNT) last issued its quarterly earnings results on Tuesday, September 10th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.07. Cognyte Software had a negative return on equity of 2.56% and a negative net margin of 1.35%. The firm had revenue of $84.40 million for the quarter, compared to analysts’ expectations of $83.69 million. During the same period in the previous year, the firm posted ($0.11) EPS. The business’s revenue for the quarter was up 9.5% compared to the same quarter last year. Analysts expect that Cognyte Software Ltd. will post -0.28 EPS for the current fiscal year.

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. StockNews.com upgraded Cognyte Software from a “buy” rating to a “strong-buy” rating in a report on Tuesday. Needham & Company LLC reissued a “hold” rating on shares of Cognyte Software in a research report on Thursday.

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.