StockNews.com Downgrades Cognyte Software (NASDAQ:CGNT) to Buy

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

CGNT has been the subject of several other reports. Wedbush increased their price objective on shares of Cognyte Software from $8.00 to $9.00 and gave the company a “neutral” rating in a research report on Thursday, June 20th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cognyte Software in a report on Tuesday, September 10th.

Cognyte Software Stock Down 0.5 %

NASDAQ CGNT opened at $6.52 on Wednesday. Cognyte Software has a 52 week low of $4.00 and a 52 week high of $8.70. The company has a 50 day moving average price of $7.04 and a 200 day moving average price of $7.37. The firm has a market cap of $463.07 million, a PE ratio of -38.35 and a beta of 1.73.

Cognyte Software (NASDAQ:CGNT) last issued 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 return on equity of 2.56% and a negative net margin of 1.35%. The firm had revenue of $84.40 million during the quarter, compared to analyst estimates of $83.69 million. During the same quarter in the prior year, the business posted ($0.11) EPS. The business’s revenue for the quarter was up 9.5% compared to the same quarter last year. On average, equities research analysts anticipate that Cognyte Software will post -0.31 earnings per share for the current fiscal year.

Insider Buying and Selling at Cognyte Software

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

Institutional Trading of Cognyte Software

Several institutional investors have recently bought and sold shares of CGNT. Signaturefd LLC increased its stake in shares of Cognyte Software by 91.4% during the second 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 in the last quarter. nVerses Capital LLC purchased a new stake in Cognyte Software during the 2nd quarter worth approximately $28,000. DT Investment Partners LLC acquired a new position in shares of Cognyte Software during the second quarter valued at approximately $62,000. Covestor Ltd purchased a new position in shares of Cognyte Software in the first quarter valued at approximately $73,000. Finally, Magnetar Financial LLC acquired a new stake in shares of Cognyte Software in the second quarter worth approximately $117,000. 72.92% of the stock is owned by institutional investors and hedge funds.

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.