Cognyte Software (NASDAQ:CGNT) Lifted to Strong-Buy at StockNews.com

Cognyte Software (NASDAQ:CGNT) was upgraded by stock analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued on Wednesday.

Separately, Needham & Company LLC reiterated a “hold” rating on shares of Cognyte Software in a research report on Tuesday, September 10th.

Cognyte Software Stock Down 2.6 %

CGNT stock traded down $0.18 during midday trading on Wednesday, hitting $6.67. The company’s stock had a trading volume of 248,166 shares, compared to its average volume of 316,649. The firm has a market capitalization of $473.72 million, a P/E ratio of -39.24 and a beta of 1.73. The firm has a 50-day simple moving average of $6.99 and a 200-day simple moving average of $7.29. Cognyte Software has a 52-week low of $4.00 and a 52-week high of $8.70.

Cognyte Software (NASDAQ:CGNT) last issued its quarterly earnings data on Tuesday, September 10th. The medical device company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.07. Cognyte Software had a negative return on equity of 2.56% and a negative net margin of 1.35%. The company had revenue of $84.40 million for the quarter, compared to analyst estimates of $83.69 million. During the same quarter last year, the company posted ($0.11) earnings per share. The business’s quarterly revenue was up 9.5% compared to the same quarter last year. On average, sell-side analysts expect that Cognyte Software will post -0.28 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder Topline Capital Partners, Lp acquired 553,591 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The shares were acquired at an average cost of $6.31 per share, for a total transaction of $3,493,159.21. Following the completion of the purchase, the insider now directly owns 8,604,144 shares in the company, valued at $54,292,148.64. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, major shareholder Topline Capital Partners, Lp acquired 553,591 shares of the business’s stock in a transaction dated Wednesday, September 11th. The stock was bought at an average price of $6.31 per share, for a total transaction of $3,493,159.21. Following the transaction, the insider now owns 8,604,144 shares of the company’s stock, valued at approximately $54,292,148.64. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Topline Capital Management, Ll bought 416,040 shares of Cognyte Software stock in a transaction dated Thursday, September 12th. The shares were bought at an average cost of $6.30 per share, with a total value of $2,621,052.00. Following the completion of the acquisition, the insider now owns 9,020,184 shares of the company’s stock, valued at $56,827,159.20. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 62.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Signaturefd LLC boosted its stake in Cognyte Software by 91.4% in the second quarter. Signaturefd LLC now owns 3,311 shares of the medical device company’s stock worth $25,000 after purchasing an additional 1,581 shares in the last quarter. nVerses Capital LLC acquired a new position in Cognyte Software during the second quarter valued at approximately $28,000. DT Investment Partners LLC acquired a new stake in Cognyte Software in the second quarter worth $62,000. Covestor Ltd bought a new position in shares of Cognyte Software during the first quarter worth $73,000. Finally, Magnetar Financial LLC bought a new stake in shares of Cognyte Software in the second quarter worth about $117,000. 72.92% of the stock is owned by institutional investors.

About Cognyte Software

Cognyte Software Ltd. provides an investigative analytics software to governments and enterprises worldwide. Its Actionable Intelligence for a Safer World, an open software designed to help governments and enterprises accelerate and enhance the effectiveness of investigations. The company offers network intelligence analytics, threat intelligence analytics, decision intelligence analytics, and operational intelligence analytics solutions.