Wedbush Raises Cognyte Software (NASDAQ:CGNT) Price Target to $8.00

Cognyte Software (NASDAQ:CGNT) had its target price upped by Wedbush from $5.00 to $8.00 in a research note issued to investors on Thursday, Benzinga reports. Wedbush currently has a neutral rating on the medical device company’s stock.

A number of other brokerages have also issued reports on CGNT. Needham & Company LLC reaffirmed a hold rating on shares of Cognyte Software in a research note on Tuesday, April 9th. Evercore ISI upped their price objective on Cognyte Software from $5.00 to $7.50 and gave the company an in-line rating in a report on Wednesday. Finally, StockNews.com raised shares of Cognyte Software from a buy rating to a strong-buy rating in a research note on Wednesday.

Cognyte Software Price Performance

Cognyte Software stock opened at $6.73 on Thursday. Cognyte Software has a 12-month low of $4.00 and a 12-month high of $8.53. The stock has a market capitalization of $477.96 million, a PE ratio of -29.26 and a beta of 1.68. The firm has a 50 day simple moving average of $7.60 and a 200-day simple moving average of $6.14.

Institutional Investors Weigh In On Cognyte Software

Several hedge funds have recently made changes to their positions in the company. Quadrature Capital Ltd purchased a new position in Cognyte Software during the 4th quarter worth approximately $144,000. Goldman Sachs Group Inc. boosted its position in shares of Cognyte Software by 18.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 313,731 shares of the medical device company’s stock worth $2,017,000 after buying an additional 48,595 shares during the period. Virtu Financial LLC purchased a new position in shares of Cognyte Software during the fourth quarter valued at $167,000. Legal & General Group Plc raised its position in Cognyte Software by 5.9% during the fourth quarter. Legal & General Group Plc now owns 4,033,757 shares of the medical device company’s stock valued at $25,937,000 after buying an additional 224,801 shares during the period. Finally, G2 Investment Partners Management LLC lifted its stake in Cognyte Software by 241.5% in the 4th quarter. G2 Investment Partners Management LLC now owns 1,366,163 shares of the medical device company’s stock worth $8,784,000 after acquiring an additional 966,163 shares in the last quarter. 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 also offers network intelligence analytics, open source and threat intelligence analytics, and operational intelligence analytics solutions.