Needham & Company LLC Reaffirms Hold Rating for Cognyte Software (NASDAQ:CGNT)

Needham & Company LLC restated their hold rating on shares of Cognyte Software (NASDAQ:CGNT) in a report published on Tuesday morning, Benzinga reports.

A number of other research firms also recently issued reports on CGNT. Wedbush boosted their price target 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. StockNews.com raised Cognyte Software from a buy rating to a strong-buy rating in a research report on Friday, June 21st.

Cognyte Software Stock Performance

Shares of Cognyte Software stock opened at $6.31 on Tuesday. The stock has a 50 day moving average of $7.40 and a 200 day moving average of $7.49. The firm has a market capitalization of $448.16 million, a price-to-earnings ratio of -37.12 and a beta of 1.74. Cognyte Software has a fifty-two week low of $4.00 and a fifty-two week high of $8.70.

Cognyte Software (NASDAQ:CGNT) last released its quarterly earnings results on Tuesday, September 10th. The medical device company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.07. The business had revenue of $84.40 million during the quarter, compared to analysts’ expectations of $83.69 million. Cognyte Software had a negative return on equity of 5.94% and a negative net margin of 3.70%. The company’s revenue was up 9.5% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.11) EPS. Analysts forecast that Cognyte Software will post -0.31 EPS for the current year.

Insiders Place Their Bets

In other Cognyte Software news, insider Topline Capital Management, Ll acquired 416,040 shares of the stock in a transaction dated Thursday, September 12th. The stock was acquired at an average price of $6.30 per share, with a total value of $2,621,052.00. Following the completion of the purchase, the insider now owns 9,020,184 shares in the company, valued at approximately $56,827,159.20. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Topline Capital Management, Ll acquired 416,040 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were acquired at an average price of $6.30 per share, with a total value of $2,621,052.00. Following the completion of the transaction, the insider now owns 9,020,184 shares of the company’s stock, valued at $56,827,159.20. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Topline Capital Partners, Lp acquired 553,591 shares of Cognyte Software 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 completion of the purchase, the insider now owns 8,604,144 shares of the company’s stock, valued at approximately $54,292,148.64. The disclosure for this purchase can be found here. Insiders own 62.70% of the company’s stock.

Hedge Funds Weigh In On Cognyte Software

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Acadian Asset Management LLC raised 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 acquiring an additional 306,479 shares in the last quarter. G2 Investment Partners Management LLC increased its position in shares of 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 purchasing an additional 966,163 shares during the last quarter. Scalar Gauge Management LLC raised its holdings in shares of Cognyte Software by 30.8% in 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 purchasing an additional 100,000 shares in the last quarter. Essex Investment Management Co. LLC lifted its position in shares of Cognyte Software by 1.6% during the 1st quarter. Essex Investment Management Co. LLC now owns 339,452 shares of the medical device company’s stock worth $2,807,000 after purchasing an additional 5,244 shares during the last quarter. Finally, Trexquant Investment LP grew its stake in shares of Cognyte Software by 43.0% during the fourth quarter. Trexquant Investment LP now owns 153,184 shares of the medical device company’s stock worth $985,000 after purchasing an additional 46,073 shares in the last quarter. 72.92% of the stock is 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.