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

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

Separately, Needham & Company LLC reissued a “hold” rating on shares of Cognyte Software in a research note on Tuesday, September 10th.

Cognyte Software Stock Performance

Shares of CGNT stock opened at $6.61 on Wednesday. Cognyte Software has a fifty-two week low of $4.00 and a fifty-two week high of $8.70. The company has a market capitalization of $469.46 million, a P/E ratio of -38.88 and a beta of 1.73. The stock has a 50 day moving average price of $6.95 and a two-hundred day moving average price of $7.27.

Cognyte Software (NASDAQ:CGNT) last posted its quarterly earnings results on Tuesday, September 10th. The medical device company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.07. The company had revenue of $84.40 million during the quarter, compared to analyst estimates of $83.69 million. Cognyte Software had a negative net margin of 1.35% and a negative return on equity of 2.56%. The firm’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. As a group, equities analysts predict that Cognyte Software will post -0.28 earnings per share for the current year.

Insider Buying and Selling at Cognyte Software

In related news, insider Topline Capital Management, Ll bought 416,040 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was purchased at an average cost of $6.30 per share, with a total value of $2,621,052.00. Following the transaction, the insider now owns 9,020,184 shares in the company, valued at approximately $56,827,159.20. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Topline Capital Management, Ll bought 416,040 shares of Cognyte Software stock in a transaction on Thursday, September 12th. The shares were purchased at an average price of $6.30 per share, for a total transaction of $2,621,052.00. Following the acquisition, the insider now owns 9,020,184 shares of the company’s stock, valued at approximately $56,827,159.20. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Topline Capital Partners, Lp bought 553,591 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The stock was 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 in the company, valued at approximately $54,292,148.64. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders own 62.70% of the company’s stock.

Institutional Trading of Cognyte Software

A number of hedge funds have recently modified their holdings of CGNT. Acadian Asset Management LLC lifted its position in Cognyte Software by 30.3% during the 1st quarter. Acadian Asset Management LLC now owns 2,304,970 shares of the medical device company’s stock valued at $19,041,000 after acquiring an additional 536,393 shares during the period. Scalar Gauge Management LLC boosted its position 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 worth $3,247,000 after purchasing an additional 100,000 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new stake in shares of Cognyte Software in the 2nd quarter worth approximately $586,000. Sei Investments Co. increased its position in Cognyte Software by 25.6% during the 1st quarter. Sei Investments Co. now owns 129,122 shares of the medical device company’s stock valued at $1,068,000 after buying an additional 26,341 shares in the last quarter. Finally, Tidal Investments LLC purchased a new position in Cognyte Software during the first quarter valued at $515,000. 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.