Hillsdale Investment Management Inc. Sells 14,000 Shares of Cognyte Software Ltd. (NASDAQ:CGNT)

Hillsdale Investment Management Inc. decreased its position in shares of Cognyte Software Ltd. (NASDAQ:CGNT) by 49.4% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 14,339 shares of the medical device company’s stock after selling 14,000 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in Cognyte Software were worth $119,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in CGNT. Tower Research Capital LLC TRC bought a new stake in Cognyte Software during the 4th quarter valued at $37,000. Russell Investments Group Ltd. raised its stake in shares of Cognyte Software by 8,624.3% during 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 during the period. Mackenzie Financial Corp lifted its holdings in Cognyte Software by 56.1% during the 4th quarter. Mackenzie Financial Corp now owns 21,986 shares of the medical device company’s stock worth $141,000 after purchasing an additional 7,899 shares in the last quarter. Quadrature Capital Ltd bought a new position in Cognyte Software in the 4th quarter worth about $144,000. Finally, Edmond DE Rothschild Holding S.A. grew its holdings in Cognyte Software by 446.6% during the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 34,870 shares of the medical device company’s stock valued at $288,000 after buying an additional 28,490 shares in the last quarter. Hedge funds and other institutional investors own 72.92% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. StockNews.com upgraded shares of Cognyte Software from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 21st. Wedbush boosted their price target on shares of Cognyte Software from $8.00 to $9.00 and gave the company a “neutral” rating in a research report on Thursday, June 20th. Evercore ISI increased their price objective on Cognyte Software from $5.00 to $7.50 and gave the stock an “in-line” rating in a research report on Wednesday, April 10th. Finally, Needham & Company LLC restated a “hold” rating on shares of Cognyte Software in a research report on Tuesday, June 18th.

Cognyte Software Stock Performance

CGNT traded up $0.23 during trading on Monday, reaching $7.58. The stock had a trading volume of 157,727 shares, compared to its average volume of 349,676. The business has a 50-day moving average of $7.67 and a 200-day moving average of $7.35. Cognyte Software Ltd. has a one year low of $4.00 and a one year high of $8.70. The stock has a market cap of $538.33 million, a PE ratio of -44.59 and a beta of 1.74.

Cognyte Software (NASDAQ:CGNT) last announced its quarterly earnings data on Tuesday, June 18th. The medical device company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.03. The firm had revenue of $82.70 million for the quarter, compared to analyst estimates 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 in the prior year, the company earned ($0.25) EPS. Equities research analysts forecast that Cognyte Software Ltd. will post -0.31 EPS for the current fiscal 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.