Cognyte Software (NASDAQ:CGNT) Stock Rating Lowered by StockNews.com

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

CGNT has been the topic of several other research reports. Needham & Company LLC reissued a “hold” rating on shares of Cognyte Software in a research report on Tuesday. Wedbush boosted their price target on shares of Cognyte Software from $8.00 to $9.00 and gave the stock a “neutral” rating in a report on Thursday, June 20th.

Cognyte Software Price Performance

Shares of CGNT stock opened at $6.31 on Wednesday. The firm has a 50-day moving average of $7.40 and a 200-day moving average of $7.49. Cognyte Software has a one year low of $4.00 and a one year high of $8.70. The company has a market cap of $448.16 million, a P/E ratio of -37.12 and a beta of 1.74.

Cognyte Software (NASDAQ:CGNT) last posted its quarterly earnings data on Tuesday, September 10th. The medical device company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.07. Cognyte Software had a negative net margin of 3.70% and a negative return on equity of 5.94%. The firm had revenue of $84.40 million during the quarter, compared to analyst estimates of $83.69 million. During the same quarter last year, the business posted ($0.11) EPS. The company’s revenue for the quarter was up 9.5% on a year-over-year basis. As a group, research analysts expect that Cognyte Software will post -0.31 earnings per share for the current fiscal year.

Insider Activity at Cognyte Software

In other news, major shareholder Topline Capital Partners, Lp purchased 553,591 shares of the business’s stock in a transaction dated Wednesday, September 11th. The stock was bought at an average price of $6.31 per share, for a total transaction 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Cognyte Software news, insider Topline Capital Management, Ll acquired 416,040 shares of Cognyte Software stock in a transaction that occurred on Thursday, September 12th. The stock was acquired at an average cost of $6.30 per share, for a total transaction of $2,621,052.00. Following the purchase, the insider now owns 9,020,184 shares of the company’s stock, valued at $56,827,159.20. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Topline Capital Partners, Lp bought 553,591 shares of the company’s stock in a transaction on Wednesday, September 11th. The shares were bought at an average price of $6.31 per share, for a total transaction of $3,493,159.21. Following the transaction, the insider now owns 8,604,144 shares of the company’s stock, valued at $54,292,148.64. The disclosure for this purchase can be found here. 62.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Cognyte Software

Several hedge funds have recently made changes to their positions in CGNT. Signaturefd LLC boosted its stake in 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 shares of Cognyte Software in the second quarter worth about $28,000. DT Investment Partners LLC bought a new position in shares of Cognyte Software in the second quarter valued at approximately $62,000. Covestor Ltd purchased a new position in Cognyte Software during the first quarter valued at approximately $73,000. Finally, Magnetar Financial LLC purchased a new position in Cognyte Software during the second quarter valued at approximately $117,000. 72.92% of the stock is currently owned by hedge funds and other institutional investors.

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.