Cognyte Software (NASDAQ:CGNT) Receives “Hold” Rating from Needham & Company LLC

Cognyte Software (NASDAQ:CGNT)‘s stock had its “hold” rating reissued by stock analysts at Needham & Company LLC in a research note issued to investors on Wednesday,Benzinga reports.

Separately, StockNews.com downgraded Cognyte Software from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th.

Cognyte Software Stock Up 17.6 %

Shares of Cognyte Software stock traded up $1.45 during trading on Wednesday, reaching $9.67. The company’s stock had a trading volume of 1,371,437 shares, compared to its average volume of 324,734. Cognyte Software has a 1-year low of $6.21 and a 1-year high of $11.12. The company has a 50-day simple moving average of $9.13 and a two-hundred day simple moving average of $8.21. The company has a market cap of $695.21 million, a price-to-earnings ratio of -50.89 and a beta of 1.77.

Institutional Trading of Cognyte Software

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Barclays PLC increased its holdings in shares of Cognyte Software by 70.0% in the fourth quarter. Barclays PLC now owns 2,943 shares of the company’s stock valued at $25,000 after purchasing an additional 1,212 shares during the period. R Squared Ltd acquired a new position in Cognyte Software in the 4th quarter worth approximately $26,000. Russell Investments Group Ltd. increased its holdings in Cognyte Software by 1,695.7% in the 4th quarter. Russell Investments Group Ltd. now owns 4,130 shares of the company’s stock worth $36,000 after buying an additional 3,900 shares during the period. Quantbot Technologies LP acquired a new stake in Cognyte Software during the 4th quarter valued at approximately $71,000. Finally, Jane Street Group LLC acquired a new stake in Cognyte Software during the 4th quarter valued at approximately $112,000. Institutional investors and hedge funds own 72.92% of the company’s stock.

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.