Cognyte Software (NASDAQ:CGNT) Earns Hold Rating from Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of Cognyte Software (NASDAQ:CGNT) in a research note released on Tuesday, Benzinga reports.

A number of other analysts also recently commented on the company. StockNews.com downgraded Cognyte Software from a strong-buy rating to a buy rating in a report on Thursday, June 13th. Wedbush upped their price objective on Cognyte Software from $5.00 to $8.00 and gave the stock a neutral rating in a report on Thursday, April 11th. Finally, Evercore ISI upped their price objective on Cognyte Software from $5.00 to $7.50 and gave the stock an in-line rating in a report on Wednesday, April 10th.

Cognyte Software Stock Performance

Shares of CGNT opened at $7.60 on Tuesday. The company has a market capitalization of $539.75 million, a PE ratio of -33.04 and a beta of 1.74. The stock has a fifty day moving average of $7.37 and a two-hundred day moving average of $7.08. 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 data on Tuesday, April 9th. The medical device company reported ($0.28) EPS for the quarter. The firm had revenue of $83.69 million for the quarter. Cognyte Software had a negative return on equity of 12.06% and a negative net margin of 4.97%. As a group, equities research analysts forecast that Cognyte Software will post -0.3 earnings per share for the current fiscal year.

Institutional Trading of Cognyte Software

A number of institutional investors have recently added to or reduced their stakes in the business. Tidal Investments LLC purchased a new stake in Cognyte Software during the 1st quarter worth $515,000. Quadrature Capital Ltd boosted its position in Cognyte Software by 111.0% during the 1st quarter. Quadrature Capital Ltd now owns 47,174 shares of the medical device company’s stock worth $391,000 after purchasing an additional 24,820 shares during the period. Covestor Ltd purchased a new stake in Cognyte Software during the 1st quarter worth $73,000. Acadian Asset Management LLC boosted 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 worth $19,041,000 after purchasing an additional 536,393 shares during the period. Finally, Edmond DE Rothschild Holding S.A. boosted its position in Cognyte Software by 446.6% in the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 34,870 shares of the medical device company’s stock valued at $288,000 after buying an additional 28,490 shares during the last quarter. 72.92% of the stock is owned by hedge funds and other institutional investors.

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.