Cognyte Software (NASDAQ:CGNT) Upgraded at StockNews.com

StockNews.com upgraded shares of Cognyte Software (NASDAQ:CGNT) from a buy rating to a strong-buy rating in a report published on Thursday.

A number of other analysts have also recently weighed in on the stock. Needham & Company LLC reiterated a hold rating on shares of Cognyte Software in a research note on Tuesday, September 10th. Wedbush upped 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 CGNT stock opened at $6.71 on Thursday. The stock’s 50-day moving average is $7.30 and its two-hundred day moving average is $7.46. Cognyte Software has a 1 year low of $4.00 and a 1 year high of $8.70. The firm has a market cap of $476.56 million, a price-to-earnings ratio of -39.47 and a beta of 1.74.

Cognyte Software (NASDAQ:CGNT) last released its quarterly earnings results on Tuesday, September 10th. The medical device company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $83.69 million. During the same quarter last year, the business posted ($0.11) EPS. The firm’s quarterly revenue was up 9.5% compared to the same quarter last year. As a group, research analysts predict that Cognyte Software will post -0.31 EPS for the current year.

Insider Buying and Selling

In other news, insider Topline Capital Management, Ll bought 416,040 shares of Cognyte Software stock in a transaction dated Thursday, September 12th. The stock was bought at an average price of $6.30 per share, for a total transaction of $2,621,052.00. Following the purchase, the insider now owns 9,020,184 shares of the company’s stock, valued at $56,827,159.20. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Cognyte Software news, major shareholder Topline Capital Partners, Lp purchased 553,591 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The shares were purchased 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. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Topline Capital Management, Ll acquired 416,040 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were acquired at an average cost of $6.30 per share, for a total transaction of $2,621,052.00. Following the acquisition, the insider now directly owns 9,020,184 shares of the company’s stock, valued at $56,827,159.20. The disclosure for this purchase can be found here. Corporate insiders own 62.70% of the company’s stock.

Institutional Investors Weigh In On Cognyte Software

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. G2 Investment Partners Management LLC increased its holdings 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 in the last quarter. Acadian Asset Management LLC increased its holdings in Cognyte Software by 30.3% in the first quarter. Acadian Asset Management LLC now owns 2,304,970 shares of the medical device company’s stock valued at $19,041,000 after buying an additional 536,393 shares in the last quarter. Scalar Gauge Management LLC acquired a new stake in shares of Cognyte Software during the 4th quarter valued at approximately $2,001,000. Perigon Wealth Management LLC purchased a new stake in shares of Cognyte Software during the 1st quarter worth approximately $811,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new stake in shares of Cognyte Software in the 2nd quarter worth approximately $586,000. Institutional investors and hedge funds own 72.92% of the company’s stock.

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.