Cognyte Software (NASDAQ:CGNT) Upgraded to Strong-Buy at StockNews.com

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

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

Cognyte Software Stock Performance

Shares of Cognyte Software stock opened at $6.67 on Wednesday. The firm has a fifty day moving average of $6.99 and a two-hundred day moving average of $7.29. The stock has a market capitalization of $473.72 million, a price-to-earnings ratio of -39.24 and a beta of 1.73. Cognyte Software has a 52 week low of $4.00 and a 52 week high of $8.70.

Cognyte Software (NASDAQ:CGNT) last released its quarterly earnings data 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. Cognyte Software had a negative net margin of 1.35% and a negative return on equity of 2.56%. The business had revenue of $84.40 million during the quarter, compared to analysts’ expectations of $83.69 million. During the same quarter in the prior year, the company earned ($0.11) EPS. The firm’s quarterly revenue was up 9.5% on a year-over-year basis. As a group, research analysts forecast that Cognyte Software will post -0.28 EPS for the current fiscal year.

Insider Activity at Cognyte Software

In related news, major shareholder Topline Capital Partners, Lp purchased 553,591 shares of the stock in a transaction on Wednesday, September 11th. The shares were purchased at an average cost of $6.31 per share, with a total value of $3,493,159.21. Following the acquisition, the insider now directly owns 8,604,144 shares in the company, valued at $54,292,148.64. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. In other news, major shareholder Topline Capital Partners, Lp acquired 553,591 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The shares were acquired at an average cost of $6.31 per share, with a total value of $3,493,159.21. Following the completion of the purchase, the insider now directly owns 8,604,144 shares of the company’s stock, valued at $54,292,148.64. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Topline Capital Management, Ll bought 416,040 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was bought at an average price of $6.30 per share, for a total transaction of $2,621,052.00. Following the transaction, the insider now directly owns 9,020,184 shares of the company’s stock, valued at approximately $56,827,159.20. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 62.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Cognyte Software

Hedge funds have recently modified their holdings of the business. Quadrature Capital Ltd bought a new stake in Cognyte Software during the fourth quarter valued at $144,000. Perigon Wealth Management LLC bought a new stake in Cognyte Software during the first quarter valued at $811,000. Essex Investment Management Co. LLC boosted its position in Cognyte Software by 1.6% during the first quarter. Essex Investment Management Co. LLC now owns 339,452 shares of the medical device company’s stock valued at $2,807,000 after acquiring an additional 5,244 shares during the last quarter. Sei Investments Co. boosted its position in Cognyte Software by 25.6% during the first quarter. Sei Investments Co. now owns 129,122 shares of the medical device company’s stock valued at $1,068,000 after acquiring an additional 26,341 shares during the last quarter. Finally, Edmond DE Rothschild Holding S.A. boosted its position in Cognyte Software by 446.6% during the first quarter. Edmond DE Rothschild Holding S.A. now owns 34,870 shares of the medical device company’s stock valued at $288,000 after acquiring an additional 28,490 shares during the last quarter. Institutional investors and hedge funds 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.