Cognyte Software (NASDAQ:CGNT) Downgraded to “Buy” at StockNews.com

Cognyte Software (NASDAQ:CGNT) was downgraded by research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued on Tuesday.

Other analysts also recently issued reports about the stock. Needham & Company LLC restated a “hold” rating on shares of Cognyte Software in a report on Tuesday, September 10th. Wedbush boosted their price objective on Cognyte Software from $8.00 to $9.00 and gave the stock a “neutral” rating in a research note on Thursday, June 20th.

Cognyte Software Price Performance

NASDAQ CGNT opened at $6.79 on Tuesday. Cognyte Software has a 1-year low of $4.00 and a 1-year high of $8.70. The business has a 50 day simple moving average of $7.20 and a two-hundred day simple moving average of $7.43. The stock has a market capitalization of $482.25 million, a PE ratio of -39.94 and a beta of 1.74.

Cognyte Software (NASDAQ:CGNT) last posted its earnings results on Tuesday, September 10th. The medical device company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.07. The firm 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%. Cognyte Software’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period last year, the firm posted ($0.11) earnings per share. On average, analysts anticipate that Cognyte Software will post -0.31 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Topline Capital Partners, Lp bought 553,591 shares of Cognyte Software stock in a transaction dated Wednesday, September 11th. The shares were acquired at an average price of $6.31 per share, with a total value of $3,493,159.21. Following the completion of the purchase, the insider now owns 8,604,144 shares in the company, valued at approximately $54,292,148.64. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 stock was purchased at an average cost of $6.31 per share, with a total value of $3,493,159.21. Following the purchase, the insider now owns 8,604,144 shares of the company’s stock, valued at $54,292,148.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 price of $6.30 per share, with a total value of $2,621,052.00. Following the acquisition, the insider now owns 9,020,184 shares in the company, valued at $56,827,159.20. The disclosure for this purchase can be found here. 62.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Cognyte Software

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CGNT. Signaturefd LLC lifted its position in shares of Cognyte Software by 91.4% in the 2nd quarter. Signaturefd LLC now owns 3,311 shares of the medical device company’s stock worth $25,000 after purchasing an additional 1,581 shares during the period. nVerses Capital LLC purchased a new stake in Cognyte Software during the second quarter worth $28,000. DT Investment Partners LLC bought a new stake in Cognyte Software during the 2nd quarter valued at $62,000. Covestor Ltd bought a new stake in Cognyte Software during the 1st quarter valued at $73,000. Finally, Magnetar Financial LLC purchased a new position in shares of Cognyte Software in the 2nd quarter valued at $117,000. 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.