Cognyte Software Ltd. (NASDAQ:CGNT) marked $3.92 per share on Monday, up from a previous closing price of $3.74. While Cognyte Software Ltd. has overperformed by 4.81%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, CGNT fell by -67.33%, with highs and lows ranging from $12.82 to $2.31, whereas the simple moving average fell by -17.20% in the last 200 days.
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On September 29, 2022, Stifel Downgraded Cognyte Software Ltd. (NASDAQ: CGNT) to Hold. A report published by Evercore ISI on June 29, 2022, Downgraded its rating to ‘In-line’ for CGNT. Wedbush December 22, 2021d its ‘Outperform’ rating to ‘Neutral’ for CGNT, as published in its report on December 22, 2021. Evercore ISI also rated the stock as ‘Outperform’.
Analysis of Cognyte Software Ltd. (CGNT)
Further, the quarter-over-quarter decrease in sales is -39.80%, showing a negative trend in the upcoming months.
In order to gain a clear picture of Cognyte Software Ltd.’s future performance, a variety of well-rounded analysis and research techniques can be applied, with equity being the most critical. The goal here is to ensure that your current return on equity of -39.90% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 1.20, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
An average volume of 1.05M can be a very valuable indicator of volatility for CGNT stock. On a monthly basis, the volatility of the stock is set at 7.64%, whereas on a weekly basis, it is put at 8.36%, with a gain of 3.70% over the past seven days. Furthermore, long-term investors anticipate a median target price of $5.25, showing growth from the present price of $3.92, which can serve as yet another indication of whether CGNT is worth investing in or should be passed over.
How Do You Analyze Cognyte Software Ltd. Shares?
In addition to the fundamentals, you should also consider how many employees own shares in the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 1.71%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 87.80% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in CGNT shares?
The recent increase in stakes in CGNT appears to be a result of several institutional investors and hedge funds increasing their positions. Edenbrook Capital LLC’s position in CGNT has increased by 11.65% in the first quarter. The company now owns 6,538,998 shares of the stock, with a value of $20.34 million, following the purchase of 682,528 additional shares during the last quarter. Global Alpha Capital Management L made another increased to its shares in CGNT during the first quarter, upping its stake by 6.25%. During the last quarter, the company picked up 383,260 additional shares for a total stake of worth $20.27 million, bringing number of shares owned by the company to 6,518,026.
During the first quarter, Senvest Management LLC added a 159,669 position in CGNT. Neuberger Berman Investment Advis purchased an additional 0.22 million shares in the last quarter, increasing its holdings by 5.70%, now holding 4.05 million shares worth $12.59 million. At the end of the first quarter, Legal & General Investment Manage decreased its CGNT holdings by -6.42% and now holds 3.96 million CGNT shares valued at $12.32 million with the lessened -0.27 million shares during the period. CGNT shares are owned by institutional investors to the tune of 87.80% at present.
