Cognyte Software (NASDAQ:CGNT) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Cognyte Software (NASDAQ:CGNT) from a buy rating to a strong-buy rating in a research report sent to investors on Friday morning.

Several other brokerages have also issued reports on CGNT. Needham & Company LLC reaffirmed a hold rating on shares of Cognyte Software in a research note on Tuesday, June 18th. Wedbush raised their price objective on shares of Cognyte Software from $8.00 to $9.00 and gave the company a neutral rating in a research note on Thursday, June 20th. Finally, Evercore ISI upped their target price on shares of Cognyte Software from $5.00 to $7.50 and gave the company an in-line rating in a research report on Wednesday, April 10th.

Cognyte Software Price Performance

Shares of Cognyte Software stock opened at $7.42 on Friday. The firm has a 50 day simple moving average of $7.43 and a 200 day simple moving average of $7.16. Cognyte Software has a fifty-two week low of $4.00 and a fifty-two week high of $8.70. The firm has a market cap of $526.97 million, a P/E ratio of -43.65 and a beta of 1.74.

Cognyte Software (NASDAQ:CGNT) last released its earnings results on Tuesday, June 18th. The medical device company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.03. Cognyte Software had a negative return on equity of 5.94% and a negative net margin of 3.70%. The company had revenue of $82.70 million during the quarter, compared to analysts’ expectations of $82.05 million. During the same period last year, the firm earned ($0.25) EPS. The business’s revenue for the quarter was up 12.7% on a year-over-year basis. On average, sell-side analysts expect that Cognyte Software will post -0.3 EPS for the current year.

Institutional Trading of Cognyte Software

A number of hedge funds have recently modified their holdings of CGNT. Citigroup Inc. increased its position in shares of Cognyte Software by 3.0% in the 3rd quarter. Citigroup Inc. now owns 138,749 shares of the medical device company’s stock valued at $667,000 after buying an additional 3,993 shares in the last quarter. Acadian Asset Management LLC grew its stake in Cognyte Software by 203.6% in the third quarter. Acadian Asset Management LLC now owns 1,578,537 shares of the medical device company’s stock valued at $7,577,000 after acquiring an additional 1,058,675 shares during the period. Trexquant Investment LP bought a new stake in shares of Cognyte Software in the third quarter worth about $515,000. Legacy Advisors LLC raised its position in shares of Cognyte Software by 10.7% during the third quarter. Legacy Advisors LLC now owns 114,200 shares of the medical device company’s stock worth $549,000 after purchasing an additional 11,038 shares during the period. Finally, GSA Capital Partners LLP lifted its holdings in shares of Cognyte Software by 92.9% during the 3rd quarter. GSA Capital Partners LLP now owns 230,614 shares of the medical device company’s stock valued at $1,109,000 after purchasing an additional 111,039 shares in the last quarter. 72.92% of the stock is currently owned by institutional investors and hedge funds.

Cognyte Software Company Profile

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.