New South Capital Management Inc. Takes Position in Cognyte Software Ltd. (NASDAQ:CGNT)

New South Capital Management Inc. purchased a new stake in Cognyte Software Ltd. (NASDAQ:CGNT) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,043,286 shares of the medical device company’s stock, valued at approximately $25,561,000. New South Capital Management Inc. owned approximately 1.58% of Cognyte Software at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp acquired a new stake in shares of Cognyte Software in the second quarter valued at approximately $575,000. Edmond DE Rothschild Holding S.A. acquired a new stake in shares of Cognyte Software in the second quarter valued at approximately $818,000. Mackenzie Financial Corp acquired a new stake in shares of Cognyte Software in the second quarter valued at approximately $980,000. BlackRock Inc. acquired a new stake in shares of Cognyte Software in the second quarter valued at approximately $37,534,000. Finally, Deutsche Bank AG bought a new position in Cognyte Software in the second quarter valued at approximately $770,000. Institutional investors own 87.78% of the company’s stock.

Shares of NASDAQ CGNT traded down $0.71 during trading on Tuesday, hitting $23.60. 15,754 shares of the company traded hands, compared to its average volume of 723,969. The business’s fifty day moving average is $26.54 and its 200 day moving average is $25.92. Cognyte Software Ltd. has a fifty-two week low of $22.22 and a fifty-two week high of $38.00. The firm has a market capitalization of $1.56 billion and a price-to-earnings ratio of 23.60.

Cognyte Software (NASDAQ:CGNT) last posted its earnings results on Sunday, September 19th. The medical device company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.16 by $0.01. The business had revenue of $116.00 million for the quarter, compared to the consensus estimate of $115.55 million. Cognyte Software’s revenue was down .3% compared to the same quarter last year. Analysts expect that Cognyte Software Ltd. will post 0.03 EPS for the current fiscal year.

A number of brokerages recently issued reports on CGNT. Needham & Company LLC began coverage on shares of Cognyte Software in a research note on Thursday, July 15th. They issued a “buy” rating and a $36.00 price objective on the stock. Wedbush decreased their target price on shares of Cognyte Software from $40.00 to $32.00 and set an “in-line” rating on the stock in a research note on Tuesday. Zacks Investment Research raised shares of Cognyte Software from a “sell” rating to a “hold” rating in a research note on Tuesday, August 24th. Finally, William Blair began coverage on shares of Cognyte Software in a research note on Monday, July 26th. They issued an “outperform” rating and a $24.33 price objective on the stock. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $33.89.

Cognyte Software Company Profile

Cognyte Software Ltd. provides security analytics software to governments and enterprises worldwide. The company's open software fuses, analyzes, and visualizes disparate data sets for security organizations. It offers investigative analytics, operational intelligence analytics, and threat intelligence analytics solutions.

Featured Article: Debt-To-Equity Ratio

Want to see what other hedge funds are holding CGNT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cognyte Software Ltd. (NASDAQ:CGNT).

Institutional Ownership by Quarter for Cognyte Software (NASDAQ:CGNT)

Receive News & Ratings for Cognyte Software Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cognyte Software and related companies with MarketBeat.com's FREE daily email newsletter.