Cognyte Software (NASDAQ:CGNT) Raised to “Strong-Buy” at StockNews.com

Cognyte Software (NASDAQ:CGNT) was upgraded by equities researchers at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued on Saturday.

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

Cognyte Software Price Performance

CGNT stock opened at $9.46 on Friday. Cognyte Software has a 1-year low of $6.21 and a 1-year high of $11.12. The stock has a market capitalization of $681.66 million, a P/E ratio of -49.79 and a beta of 1.76. The business has a fifty day moving average price of $9.11 and a 200-day moving average price of $8.37.

Cognyte Software (NASDAQ:CGNT) last posted its earnings results on Wednesday, April 2nd. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.02. Cognyte Software had a negative net margin of 3.95% and a negative return on equity of 13.30%. The business had revenue of $94.51 million for the quarter, compared to analysts’ expectations of $93.15 million. During the same quarter in the prior year, the business earned ($0.23) EPS. As a group, analysts anticipate that Cognyte Software will post -0.2 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of CGNT. XTX Topco Ltd purchased a new stake in shares of Cognyte Software during the 3rd quarter valued at about $169,000. Public Employees Retirement System of Ohio purchased a new stake in Cognyte Software during the third quarter valued at approximately $1,101,000. Tidal Investments LLC raised its position in Cognyte Software by 4.6% in the third quarter. Tidal Investments LLC now owns 59,902 shares of the company’s stock worth $407,000 after acquiring an additional 2,648 shares during the period. R Squared Ltd bought a new position in Cognyte Software in the fourth quarter worth approximately $26,000. Finally, William Blair Investment Management LLC grew its position in shares of Cognyte Software by 2.5% during the 4th quarter. William Blair Investment Management LLC now owns 2,742,843 shares of the company’s stock valued at $23,726,000 after acquiring an additional 67,024 shares during the period. 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.