Bastion Asset Management Inc. Acquires Shares of 197,238 Cognyte Software Ltd. $CGNT

Bastion Asset Management Inc. acquired a new stake in Cognyte Software Ltd. (NASDAQ:CGNT) during the 1st quarter, HoldingsChannel.com reports. The institutional investor acquired 197,238 shares of the company’s stock, valued at approximately $1,615,000.

A number of other hedge funds have also modified their holdings of the stock. Y Intercept Hong Kong Ltd acquired a new stake in Cognyte Software in the 1st quarter valued at $657,000. Yelin Lapidot Holdings Management Ltd. raised its stake in Cognyte Software by 278.3% during the first quarter. Yelin Lapidot Holdings Management Ltd. now owns 100,979 shares of the company’s stock worth $818,000 after acquiring an additional 74,289 shares in the last quarter. SG Americas Securities LLC raised its stake in Cognyte Software by 97.3% during the first quarter. SG Americas Securities LLC now owns 398,246 shares of the company’s stock worth $3,226,000 after acquiring an additional 196,427 shares in the last quarter. Silverberg Bernstein Capital Management LLC raised its stake in Cognyte Software by 0.9% during the first quarter. Silverberg Bernstein Capital Management LLC now owns 163,997 shares of the company’s stock worth $1,328,000 after acquiring an additional 1,497 shares in the last quarter. Finally, Rockefeller Capital Management L.P. lifted its holdings in shares of Cognyte Software by 1,478.7% during the fourth quarter. Rockefeller Capital Management L.P. now owns 3,268 shares of the company’s stock valued at $31,000 after acquiring an additional 3,061 shares during the period. 72.92% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Cognyte Software Price Performance

Shares of CGNT opened at $8.89 on Friday. The company has a market capitalization of $649.66 million, a P/E ratio of -222.25 and a beta of 1.68. Cognyte Software Ltd. has a one year low of $6.29 and a one year high of $12.31. The business’s 50 day simple moving average is $9.38 and its 200-day simple moving average is $8.87.

Cognyte Software (NASDAQ:CGNT) last released its quarterly earnings results on Wednesday, June 3rd. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $105.49 million for the quarter, compared to analyst estimates of $105.04 million. Cognyte Software has set its FY 2027 guidance at 0.470-0.470 EPS. On average, sell-side analysts anticipate that Cognyte Software Ltd. will post 0.08 EPS for the current fiscal year.

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.