Needham & Company LLC Reiterates Hold Rating for Cognyte Software (NASDAQ:CGNT)

Cognyte Software (NASDAQ:CGNT)‘s stock had its “hold” rating restated by stock analysts at Needham & Company LLC in a note issued to investors on Wednesday,Benzinga reports.

Separately, Wall Street Zen upgraded Cognyte Software from a “buy” rating to a “strong-buy” rating in a research report on Saturday, April 12th.

Cognyte Software Stock Down 1.7%

NASDAQ CGNT opened at $9.42 on Wednesday. The company has a 50-day moving average price of $10.03 and a 200-day moving average price of $9.35. Cognyte Software has a 52 week low of $6.21 and a 52 week high of $11.66. The firm has a market capitalization of $678.78 million, a P/E ratio of -49.58 and a beta of 1.73.

Cognyte Software (NASDAQ:CGNT) last announced its earnings results on Wednesday, June 11th. The company reported $0.07 EPS for the quarter. Cognyte Software had a negative net margin of 3.95% and a negative return on equity of 13.30%. The business had revenue of $95.55 million during the quarter, compared to analysts’ expectations of $93.96 million. As a group, equities research analysts anticipate that Cognyte Software will post -0.2 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Barclays PLC lifted its holdings in Cognyte Software by 70.0% during the fourth quarter. Barclays PLC now owns 2,943 shares of the company’s stock valued at $25,000 after purchasing an additional 1,212 shares in the last quarter. Signaturefd LLC raised its position in shares of Cognyte Software by 119.2% during the 1st quarter. Signaturefd LLC now owns 3,968 shares of the company’s stock valued at $31,000 after purchasing an additional 2,158 shares during the period. Russell Investments Group Ltd. lifted its stake in shares of Cognyte Software by 1,695.7% during the 4th quarter. Russell Investments Group Ltd. now owns 4,130 shares of the company’s stock valued at $36,000 after buying an additional 3,900 shares in the last quarter. Quantbot Technologies LP purchased a new position in shares of Cognyte Software during the 4th quarter valued at $71,000. Finally, Magnetar Financial LLC bought a new position in Cognyte Software in the 1st quarter worth $106,000. 72.92% of the stock is currently owned by 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.