Cognyte Software (NASDAQ:CGNT) Stock Crosses Above Two Hundred Day Moving Average – What’s Next?

Cognyte Software Ltd. (NASDAQ:CGNT)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $7.66 and traded as high as $9.24. Cognyte Software shares last traded at $9.19, with a volume of 135,557 shares.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Needham & Company LLC restated a “hold” rating on shares of Cognyte Software in a report on Thursday, December 12th. StockNews.com cut Cognyte Software from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th.

Cognyte Software Price Performance

The firm has a 50 day moving average of $8.75 and a two-hundred day moving average of $7.66. The stock has a market cap of $660.71 million, a PE ratio of -48.37 and a beta of 1.76.

Cognyte Software announced that its board has authorized a stock repurchase program on Tuesday, November 12th that allows the company to buyback $20.00 million in shares. This buyback authorization allows the company to reacquire up to 3.7% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Institutional Investors Weigh In On Cognyte Software

Several institutional investors have recently added to or reduced their stakes in the business. R Squared Ltd acquired a new position in Cognyte Software during the fourth quarter worth approximately $26,000. State of New Jersey Common Pension Fund D increased its holdings in shares of 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 valued at $157,000 after purchasing an additional 5,940 shares during the period. XTX Topco Ltd acquired a new position in shares of Cognyte Software in the third quarter valued at approximately $169,000. Centiva Capital LP acquired a new position in shares of Cognyte Software in the third quarter valued at approximately $172,000. Finally, Tidal Investments LLC increased its holdings in shares of Cognyte Software by 4.6% in the third quarter. Tidal Investments LLC now owns 59,902 shares of the company’s stock valued at $407,000 after purchasing an additional 2,648 shares during the period. Hedge funds and other institutional investors own 72.92% of the company’s stock.

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.