SG Americas Securities LLC Buys 196,427 Shares of Cognyte Software Ltd. $CGNT

SG Americas Securities LLC boosted its stake in Cognyte Software Ltd. (NASDAQ:CGNT) by 97.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 398,246 shares of the company’s stock after purchasing an additional 196,427 shares during the quarter. SG Americas Securities LLC owned about 0.54% of Cognyte Software worth $3,226,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Millennium Management LLC boosted its position in shares of Cognyte Software by 101.9% during the 1st quarter. Millennium Management LLC now owns 921,853 shares of the company’s stock worth $7,190,000 after purchasing an additional 465,307 shares in the last quarter. Samjo Management LLC raised its stake in Cognyte Software by 64.4% during the 4th quarter. Samjo Management LLC now owns 896,325 shares of the company’s stock worth $8,425,000 after buying an additional 351,150 shares during the period. Marshall Wace LLP raised its stake in Cognyte Software by 77.5% during the 2nd quarter. Marshall Wace LLP now owns 756,876 shares of the company’s stock worth $6,994,000 after buying an additional 330,569 shares during the period. Westerly Capital Management LLC boosted its holdings in Cognyte Software by 29.4% in the third quarter. Westerly Capital Management LLC now owns 1,100,000 shares of the company’s stock worth $9,240,000 after acquiring an additional 250,000 shares in the last quarter. Finally, Archon Capital Management LLC bought a new position in Cognyte Software in the fourth quarter worth approximately $1,958,000. 72.92% of the stock is owned by institutional investors.

Cognyte Software Stock Up 5.0%

Shares of Cognyte Software stock opened at $8.78 on Wednesday. Cognyte Software Ltd. has a 52 week low of $6.29 and a 52 week high of $12.31. The business has a 50 day moving average price of $9.59 and a 200-day moving average price of $8.92. The company has a market cap of $641.64 million, a PE ratio of -219.50 and a beta of 1.64.

Cognyte Software (NASDAQ:CGNT) last announced its earnings results on Wednesday, June 3rd. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.07). Cognyte Software had a negative net margin of 0.66% and a negative return on equity of 0.45%. The company had revenue of $105.49 million for the quarter, compared to analysts’ expectations of $105.04 million. Cognyte Software has set its FY 2027 guidance at 0.470-0.470 EPS. As a group, research analysts anticipate that Cognyte Software Ltd. will post 0.08 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on CGNT shares. Wall Street Zen downgraded Cognyte Software from a “buy” rating to a “hold” rating in a report on Saturday, June 6th. Zacks Research cut Cognyte Software from a “hold” rating to a “strong sell” rating in a report on Wednesday, June 24th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Cognyte Software currently has an average rating of “Hold” and a consensus price target of $13.50.

Cognyte Software Company Profile

Cognyte Software Ltd. is a global provider of security analytics solutions that was spun off from NICE Ltd. in early 2021. Headquartered in Israel, the company delivers specialized software and services designed to help government agencies, law enforcement organizations and critical infrastructure operators process and analyze large volumes of data for intelligence and investigative purposes.

The company’s core offerings include advanced analytics platforms that aggregate and visualize structured and unstructured data from diverse sources, such as communications metadata, open-source intelligence and sensor feeds.