Cognyte Software (NASDAQ:CGNT) Lowered to Buy at StockNews.com

StockNews.com cut shares of Cognyte Software (NASDAQ:CGNT) from a strong-buy rating to a buy rating in a report issued on Tuesday.

Other equities analysts have also recently issued reports about the stock. Needham & Company LLC reissued a hold rating on shares of Cognyte Software in a research note on Tuesday, September 10th. Wedbush lifted their target price on shares of Cognyte Software from $8.00 to $9.00 and gave the company a neutral rating in a report on Thursday, June 20th.

Cognyte Software Stock Performance

Shares of NASDAQ:CGNT opened at $6.55 on Tuesday. Cognyte Software has a one year low of $4.00 and a one year high of $8.70. The stock has a market capitalization of $465.20 million, a price-to-earnings ratio of -38.53 and a beta of 1.74. The company has a 50-day simple moving average of $7.18 and a 200-day simple moving average of $7.42.

Cognyte Software (NASDAQ:CGNT) last posted its quarterly earnings data on Tuesday, September 10th. The medical device company reported $0.05 EPS for the quarter, beating 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 firm had revenue of $84.40 million during the quarter, compared to the consensus estimate of $83.69 million. During the same period in the prior year, the business earned ($0.11) EPS. The firm’s revenue was up 9.5% compared to the same quarter last year. As a group, research analysts forecast that Cognyte Software will post -0.31 EPS for the current fiscal year.

Insider Activity at Cognyte Software

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

Hedge Funds Weigh In On Cognyte Software

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Acadian Asset Management LLC grew its holdings in Cognyte Software by 13.3% in the second quarter. Acadian Asset Management LLC now owns 2,611,449 shares of the medical device company’s stock valued at $19,928,000 after purchasing an additional 306,479 shares during the last quarter. G2 Investment Partners Management LLC grew its stake in Cognyte Software by 241.5% in the 4th quarter. G2 Investment Partners Management LLC now owns 1,366,163 shares of the medical device company’s stock valued at $8,784,000 after acquiring an additional 966,163 shares during the last quarter. Scalar Gauge Management LLC increased its holdings in Cognyte Software by 30.8% during the 2nd quarter. Scalar Gauge Management LLC now owns 425,032 shares of the medical device company’s stock valued at $3,247,000 after acquiring an additional 100,000 shares in the last quarter. Essex Investment Management Co. LLC raised its position in Cognyte Software by 1.6% during the first quarter. Essex Investment Management Co. LLC now owns 339,452 shares of the medical device company’s stock worth $2,807,000 after acquiring an additional 5,244 shares during the last quarter. Finally, Legacy Advisors LLC lifted its holdings in shares of Cognyte Software by 1.4% in the second quarter. Legacy Advisors LLC now owns 143,790 shares of the medical device company’s stock valued at $1,099,000 after purchasing an additional 2,041 shares in the last quarter. 72.92% of the stock is 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.