Cognyte Software (NASDAQ:CGNT) Raised to Buy at StockNews.com

StockNews.com upgraded shares of Cognyte Software (NASDAQ:CGNT) from a hold rating to a buy rating in a research report sent to investors on Friday.

Separately, Needham & Company LLC reaffirmed a “hold” rating on shares of Cognyte Software in a research report on Wednesday.

Cognyte Software Stock Performance

Cognyte Software stock opened at $9.20 on Friday. The company’s 50 day simple moving average is $9.14 and its 200-day simple moving average is $8.25. Cognyte Software has a 1 year low of $6.21 and a 1 year high of $11.12. The company has a market capitalization of $661.42 million, a price-to-earnings ratio of -48.42 and a beta of 1.77.

Cognyte Software (NASDAQ:CGNT) last posted its quarterly earnings data on Wednesday, April 2nd. The company reported $0.03 EPS for the quarter, beating the consensus estimate of $0.01 by $0.02. The business had revenue of $94.51 million during the quarter, compared to analyst estimates 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 quarter last year, the firm posted ($0.23) earnings per share. Equities analysts expect that Cognyte Software will post -0.2 earnings per share for the current year.

Hedge Funds Weigh In On Cognyte Software

Several large investors have recently bought and sold shares of CGNT. Barclays PLC lifted its holdings in Cognyte Software by 70.0% during the 4th quarter. Barclays PLC now owns 2,943 shares of the company’s stock worth $25,000 after buying an additional 1,212 shares during the last quarter. R Squared Ltd acquired a new stake in shares of Cognyte Software during the 4th quarter worth about $26,000. Russell Investments Group Ltd. lifted its stake in Cognyte Software by 1,695.7% during the fourth quarter. Russell Investments Group Ltd. now owns 4,130 shares of the company’s stock worth $36,000 after purchasing an additional 3,900 shares during the last quarter. Quantbot Technologies LP acquired a new position in Cognyte Software in the fourth quarter valued at approximately $71,000. Finally, Jane Street Group LLC purchased a new position in Cognyte Software in the fourth quarter valued at approximately $112,000. Hedge funds and other institutional investors own 72.92% of the company’s stock.

Cognyte Software Company Profile

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.