StockNews.com Upgrades Cognyte Software (NASDAQ:CGNT) to “Strong-Buy”

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

Separately, Needham & Company LLC reissued a “hold” rating on shares of Cognyte Software in a research report on Tuesday, April 8th.

Cognyte Software Trading Up 1.9 %

NASDAQ CGNT opened at $9.64 on Friday. The company has a market capitalization of $694.63 million, a PE ratio of -50.74 and a beta of 1.76. The business’s 50-day moving average price is $9.08 and its 200 day moving average price is $8.40. Cognyte Software has a twelve month low of $6.21 and a twelve month high of $11.12.

Cognyte Software (NASDAQ:CGNT) last released its earnings results on Wednesday, April 2nd. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.02. The firm had revenue of $94.51 million during the quarter, compared to the consensus estimate of $93.15 million. Cognyte Software had a negative net margin of 3.95% and a negative return on equity of 13.30%. During the same period in the previous year, the firm earned ($0.23) earnings per share. Equities analysts predict that Cognyte Software will post -0.2 EPS for the current year.

Institutional Trading of Cognyte Software

Several large investors have recently added to or reduced their stakes in the stock. Silverberg Bernstein Capital Management LLC boosted its position in shares of Cognyte Software by 8.2% in the first quarter. Silverberg Bernstein Capital Management LLC now owns 107,800 shares of the company’s stock worth $841,000 after buying an additional 8,167 shares during the period. Public Employees Retirement System of Ohio lifted its position in Cognyte Software by 3.7% during the 4th quarter. Public Employees Retirement System of Ohio now owns 168,122 shares of the company’s stock worth $1,454,000 after acquiring an additional 6,009 shares in the last quarter. Man Group plc lifted its position in Cognyte Software by 88.3% during the 4th quarter. Man Group plc now owns 79,035 shares of the company’s stock worth $684,000 after acquiring an additional 37,070 shares in the last quarter. Millennium Management LLC boosted its holdings in Cognyte Software by 80.8% in the 4th quarter. Millennium Management LLC now owns 456,546 shares of the company’s stock worth $3,949,000 after acquiring an additional 204,099 shares during the period. Finally, D. E. Shaw & Co. Inc. grew its position in Cognyte Software by 8.9% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 818,729 shares of the company’s stock valued at $7,082,000 after acquiring an additional 66,712 shares in the last quarter. 72.92% of the stock is currently owned by institutional investors and hedge funds.

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.