Scalar Gauge Management LLC Increases Position in Cognyte Software Ltd. $CGNT

Scalar Gauge Management LLC raised its position in shares of Cognyte Software Ltd. (NASDAQ:CGNT) by 44.8% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 789,099 shares of the company’s stock after buying an additional 244,067 shares during the period. Cognyte Software makes up about 3.4% of Scalar Gauge Management LLC’s portfolio, making the stock its 13th biggest holding. Scalar Gauge Management LLC’s holdings in Cognyte Software were worth $6,628,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. State of Alaska Department of Revenue acquired a new position in Cognyte Software during the 3rd quarter worth about $27,000. Osaic Holdings Inc. increased its stake in Cognyte Software by 79.4% during the second quarter. Osaic Holdings Inc. now owns 3,634 shares of the company’s stock worth $34,000 after purchasing an additional 1,608 shares during the period. Virtus Advisers LLC acquired a new stake in shares of Cognyte Software during the second quarter worth about $38,000. Corton Capital Inc. purchased a new position in shares of Cognyte Software in the second quarter valued at approximately $95,000. Finally, R Squared Ltd acquired a new position in shares of Cognyte Software in the second quarter valued at approximately $110,000. Hedge funds and other institutional investors own 72.92% of the company’s stock.

Cognyte Software Trading Up 3.8%

Cognyte Software stock opened at $9.24 on Tuesday. The company has a fifty day simple moving average of $9.07 and a 200-day simple moving average of $8.80. The stock has a market cap of $674.24 million, a P/E ratio of -115.50 and a beta of 1.61. Cognyte Software Ltd. has a 12-month low of $7.64 and a 12-month high of $11.65.

Cognyte Software (NASDAQ:CGNT) last announced its quarterly earnings results on Tuesday, December 9th. The company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.05. The company had revenue of $100.74 million during the quarter, compared to the consensus estimate of $99.58 million. Cognyte Software had a negative return on equity of 2.24% and a negative net margin of 1.45%.Cognyte Software has set its FY 2026 guidance at 0.240-0.240 EPS. As a group, sell-side analysts forecast that Cognyte Software Ltd. will post -0.2 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have issued reports on CGNT. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cognyte Software in a report on Wednesday, January 21st. Zacks Research raised Cognyte Software to a “hold” rating in a research report on Monday, October 6th. Roth Mkm started coverage on Cognyte Software in a report on Friday, October 3rd. They issued a “buy” rating and a $14.00 target price for the company. Finally, Wall Street Zen raised Cognyte Software from a “hold” rating to a “buy” rating in a research note on Saturday, December 13th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $14.00.

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.