Fintel reports that Senvest Management has filed a 13G/A form with the SEC disclosing ownership of 3.08MM shares of Cognyte Software Ltd (CGNT). This represents 4.51% of the company.
In their previous filing dated February 9, 2022 they reported 3.66MM shares and 5.46% of the company, a decrease in shares of 15.79% and a decrease in total ownership of 0.95% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 39.09% Upside
As of February 6, 2023, the average one-year price target for Cognyte Software is $5.36. The forecasts range from a low of $3.03 to a high of $10.50. The average price target represents an increase of 39.09% from its latest reported closing price of $3.85.
The projected annual revenue for Cognyte Software is $338MM, a decrease of 7.16%. The projected annual EPS is -$1.14.
What is the Fund Sentiment?
There are 181 funds or institutions reporting positions in Cognyte Software. This is a decrease of 49 owner(s) or 21.30% in the last quarter. Average portfolio weight of all funds dedicated to CGNT is 0.13%, a decrease of 21.41%. Total shares owned by institutions decreased in the last three months by 12.48% to 62,166K shares. The put/call ratio of CGNT is 0.67, indicating a bullish outlook.
What are large shareholders doing?
Edenbrook Capital holds 5,856K shares representing 8.58% ownership of the company. In it's prior filing, the firm reported owning 3,659K shares, representing an increase of 37.53%. The firm increased its portfolio allocation in CGNT by 19.23% over the last quarter.
Neuberger Berman Group holds 4,047K shares representing 5.93% ownership of the company. In it's prior filing, the firm reported owning 3,829K shares, representing an increase of 5.39%. The firm increased its portfolio allocation in CGNT by 4.29% over the last quarter.
Legal & General Group holds 3,960K shares representing 5.80% ownership of the company. In it's prior filing, the firm reported owning 4,232K shares, representing a decrease of 6.85%. The firm decreased its portfolio allocation in CGNT by 0.70% over the last quarter.
William Blair Investment Management holds 2,957K shares representing 4.33% ownership of the company. In it's prior filing, the firm reported owning 3,085K shares, representing a decrease of 4.33%. The firm decreased its portfolio allocation in CGNT by 28.59% over the last quarter.
American Capital Management holds 2,450K shares representing 3.59% ownership of the company. In it's prior filing, the firm reported owning 2,478K shares, representing a decrease of 1.14%. The firm decreased its portfolio allocation in CGNT by 1.01% over the last quarter.
Cognyte Software Background Information
(This description is provided by the company.)
Cognyte (formerly a Verint company) is a global leader in security analytics software that empowers governments and enterprises with Actionable Intelligence for a Safer World™. Its open software fuses, analyzes, and visualizes disparate data sets at scale to help security organizations find the needles in the haystacks. Over 1,000 government and enterprise customers in more than 100 countries rely on Cognyte’s solutions to accelerate security investigations and connect the dots to successfully identify, neutralize, and prevent threats to national security, business continuity, and cyber security.
This story originally appeared on Fintel.
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