JPMorgan Chase & Co. Has $2.63 Million Position in Cognyte Software Ltd. (NASDAQ:CGNT)

JPMorgan Chase & Co. cut its stake in shares of Cognyte Software Ltd. (NASDAQ:CGNT) by 14.1% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 386,961 shares of the company’s stock after selling 63,655 shares during the period. JPMorgan Chase & Co.’s holdings in Cognyte Software were worth $2,627,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Magnetar Financial LLC purchased a new position in shares of Cognyte Software during the 2nd quarter valued at $117,000. Scalar Gauge Management LLC boosted its position in Cognyte Software by 30.8% during the second quarter. Scalar Gauge Management LLC now owns 425,032 shares of the company’s stock valued at $3,247,000 after purchasing an additional 100,000 shares during the last quarter. Silverberg Bernstein Capital Management LLC grew its stake in Cognyte Software by 2.0% in the third quarter. Silverberg Bernstein Capital Management LLC now owns 100,300 shares of the company’s stock valued at $681,000 after purchasing an additional 2,000 shares in the last quarter. Angeles Wealth Management LLC acquired a new position in Cognyte Software in the 3rd quarter worth about $437,000. Finally, State of New Jersey Common Pension Fund D raised its stake in shares of Cognyte Software by 34.4% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 23,186 shares of the company’s stock worth $157,000 after purchasing an additional 5,940 shares in the last quarter. Institutional investors and hedge funds own 72.92% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on CGNT shares. Needham & Company LLC reissued a “hold” rating on shares of Cognyte Software in a research note on Thursday, December 12th. StockNews.com downgraded shares of Cognyte Software from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th.

Cognyte Software Price Performance

Shares of NASDAQ:CGNT opened at $9.66 on Tuesday. The stock has a market capitalization of $694.46 million, a P/E ratio of -50.84 and a beta of 1.76. The business has a 50-day moving average of $8.49 and a two-hundred day moving average of $7.59. Cognyte Software Ltd. has a fifty-two week low of $5.68 and a fifty-two week high of $9.97.

Cognyte Software declared that its Board of Directors has approved a stock repurchase plan on Tuesday, November 12th that authorizes the company to buyback $20.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 3.7% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

About Cognyte Software

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.