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

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

A number of other equities analysts have also recently issued reports on CGNT. Wedbush boosted their price objective on shares of Cognyte Software from $8.00 to $9.00 and gave the company a neutral rating in a research report on Thursday, June 20th. Needham & Company LLC reaffirmed a hold rating on shares of Cognyte Software in a research report on Tuesday, September 10th.

Cognyte Software Trading Down 1.2 %

CGNT opened at $6.71 on Thursday. Cognyte Software has a 12 month low of $4.00 and a 12 month high of $8.70. The business’s 50-day moving average price is $7.30 and its 200-day moving average price is $7.46. The company has a market cap of $476.56 million, a P/E ratio of -39.47 and a beta of 1.74.

Cognyte Software (NASDAQ:CGNT) last announced its quarterly earnings data on Tuesday, September 10th. The medical device company reported $0.05 earnings per share 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 quarter in the previous year, the company posted ($0.11) earnings per share. The business’s revenue was up 9.5% on a year-over-year basis. Equities research analysts forecast that Cognyte Software will post -0.31 earnings per share for the current fiscal year.

Insider Transactions at Cognyte Software

In related news, insider Topline Capital Management, Ll purchased 416,040 shares of the firm’s stock in a transaction that occurred 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 purchase, the insider now directly owns 9,020,184 shares in the company, valued at $56,827,159.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Topline Capital Management, Ll purchased 416,040 shares of Cognyte Software stock in a transaction that occurred on Thursday, September 12th. The shares were bought at an average cost of $6.30 per share, with a total value of $2,621,052.00. Following the completion of the purchase, the insider now directly owns 9,020,184 shares in the company, valued at $56,827,159.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Topline Capital Partners, Lp acquired 553,591 shares of the stock in a transaction on Wednesday, September 11th. The shares were purchased at an average cost of $6.31 per share, with a total value of $3,493,159.21. Following the transaction, the insider now directly 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. Corporate insiders own 62.70% of the company’s stock.

Hedge Funds Weigh In On Cognyte Software

Institutional investors and hedge funds have recently made changes to their positions in the business. Acadian Asset Management LLC increased its position in Cognyte Software by 13.3% during the 2nd quarter. Acadian Asset Management LLC now owns 2,611,449 shares of the medical device company’s stock valued at $19,928,000 after buying an additional 306,479 shares in the last quarter. G2 Investment Partners Management LLC grew its stake in shares of Cognyte Software by 241.5% in the fourth quarter. G2 Investment Partners Management LLC now owns 1,366,163 shares of the medical device company’s stock worth $8,784,000 after acquiring an additional 966,163 shares during the last quarter. Scalar Gauge Management LLC increased its holdings in shares of Cognyte Software by 30.8% during the second 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 shares of Cognyte Software by 1.6% in 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 boosted its stake in Cognyte Software by 43.0% in the 4th 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. Institutional investors 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.