Essex Investment Management Co. LLC Has $2.99 Million Stock Holdings in Cognyte Software Ltd. (NASDAQ:CGNT)

Essex Investment Management Co. LLC trimmed its position in Cognyte Software Ltd. (NASDAQ:CGNT) by 11.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 345,520 shares of the company’s stock after selling 43,883 shares during the period. Essex Investment Management Co. LLC owned approximately 0.48% of Cognyte Software worth $2,989,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. American Capital Management Inc. raised its position in shares of Cognyte Software by 8.5% in the 3rd quarter. American Capital Management Inc. now owns 6,402,813 shares of the company’s stock valued at $43,475,000 after acquiring an additional 502,781 shares during the period. Edenbrook Capital LLC raised its position in shares of Cognyte Software by 3.4% in the 3rd quarter. Edenbrook Capital LLC now owns 6,283,226 shares of the company’s stock valued at $42,663,000 after acquiring an additional 207,675 shares during the period. State of New Jersey Common Pension Fund D raised its position in shares of Cognyte Software by 34.4% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 23,186 shares of the company’s stock valued at $157,000 after acquiring an additional 5,940 shares during the period. Public Employees Retirement System of Ohio bought a new stake in Cognyte Software during the 3rd quarter worth approximately $1,101,000. Finally, XTX Topco Ltd bought a new stake in Cognyte Software during the 3rd quarter worth approximately $169,000. 72.92% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports 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 cut Cognyte Software from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th.

Cognyte Software Stock Performance

NASDAQ CGNT opened at $8.47 on Friday. The stock has a market cap of $608.94 million, a price-to-earnings ratio of -44.58 and a beta of 1.77. Cognyte Software Ltd. has a 52-week low of $6.21 and a 52-week high of $11.12. The business has a 50 day simple moving average of $9.41 and a 200 day simple moving average of $8.10.

Cognyte Software declared that its Board of Directors 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 purchase up to 3.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its shares are undervalued.

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.