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

StockNews.com lowered shares of Cognyte Software (NASDAQ:CGNT) from a strong-buy rating to a buy rating in a research report released on Tuesday.

A number of other research analysts have also commented on CGNT. Needham & Company LLC reissued a hold rating on shares of Cognyte Software in a report on Tuesday, September 10th. Wedbush raised their target price on Cognyte Software from $8.00 to $9.00 and gave the company a neutral rating in a report on Thursday, June 20th.

Cognyte Software Stock Performance

Shares of NASDAQ CGNT opened at $6.47 on Tuesday. The firm has a market cap of $459.52 million, a price-to-earnings ratio of -38.06 and a beta of 1.74. The business’s 50-day simple moving average is $7.16 and its 200-day simple moving average is $7.42. Cognyte Software has a 52 week low of $4.00 and a 52 week high of $8.70.

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 analysts’ consensus estimates of ($0.02) by $0.07. The business had revenue of $84.40 million for the quarter, compared to analyst estimates of $83.69 million. Cognyte Software had a negative return on equity of 2.56% and a negative net margin of 1.35%. The firm’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.11) EPS. As a group, equities research analysts forecast that Cognyte Software will post -0.31 earnings per share for the current year.

Insider Buying and Selling at Cognyte Software

In other news, insider Topline Capital Management, Ll acquired 416,040 shares of Cognyte Software 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 owns 9,020,184 shares of the company’s stock, valued at $56,827,159.20. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Topline Capital Management, Ll acquired 416,040 shares of Cognyte Software 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 owns 9,020,184 shares of the company’s stock, valued at $56,827,159.20. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Topline Capital Partners, Lp acquired 553,591 shares of Cognyte Software stock in a transaction on Wednesday, September 11th. The stock was purchased at an average price of $6.31 per share, with a total value of $3,493,159.21. Following the transaction, the insider now directly owns 8,604,144 shares in the company, valued at approximately $54,292,148.64. The disclosure for this purchase can be found here. Insiders own 62.70% of the company’s stock.

Institutional Trading of Cognyte Software

Hedge funds have recently modified their holdings of the company. Signaturefd LLC lifted its position in shares of Cognyte Software by 91.4% during the 2nd quarter. Signaturefd LLC now owns 3,311 shares of the medical device company’s stock worth $25,000 after buying an additional 1,581 shares during the period. Legacy Advisors LLC lifted its position in shares of Cognyte Software by 1.4% during the 2nd quarter. Legacy Advisors LLC now owns 143,790 shares of the medical device company’s stock worth $1,099,000 after buying an additional 2,041 shares during the period. nVerses Capital LLC bought a new position in shares of Cognyte Software during the 2nd quarter worth approximately $28,000. Essex Investment Management Co. LLC lifted its position in shares of Cognyte Software by 1.6% during the 1st quarter. Essex Investment Management Co. LLC now owns 339,452 shares of the medical device company’s stock worth $2,807,000 after buying an additional 5,244 shares during the period. Finally, Silverberg Bernstein Capital Management LLC lifted its position in shares of Cognyte Software by 7.7% during the 2nd quarter. Silverberg Bernstein Capital Management LLC now owns 98,300 shares of the medical device company’s stock worth $751,000 after buying an additional 7,000 shares during the period. 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 offers network intelligence analytics, threat intelligence analytics, decision intelligence analytics, and operational intelligence analytics solutions.