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

Needham & Company LLC restated their hold rating on shares of Cognyte Software (NASDAQ:CGNT) in a report issued on Tuesday, Benzinga reports.

A number of other brokerages have also issued reports on CGNT. StockNews.com lowered Cognyte Software from a strong-buy rating to a buy rating in a research report on Thursday, June 13th. Evercore ISI upped their target price on Cognyte Software from $5.00 to $7.50 and gave the company an in-line rating in a research report on Wednesday, April 10th. Finally, Wedbush upped their target price on Cognyte Software from $5.00 to $8.00 and gave the company a neutral rating in a research report on Thursday, April 11th.

Cognyte Software Stock Performance

Cognyte Software stock opened at $7.50 on Tuesday. The stock’s 50 day moving average price is $7.40 and its 200 day moving average price is $7.10. The firm has a market capitalization of $532.65 million, a PE ratio of -44.12 and a beta of 1.74. Cognyte Software has a one year low of $4.00 and a one year high of $8.70.

Cognyte Software (NASDAQ:CGNT) last released its quarterly earnings results on Tuesday, June 18th. The medical device company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.03. The firm had revenue of $82.70 million for the quarter, compared to analyst estimates of $82.05 million. Cognyte Software had a negative return on equity of 5.98% and a negative net margin of 3.70%. Cognyte Software’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same period in the previous year, the company posted ($0.25) EPS. On average, analysts forecast that Cognyte Software will post -0.3 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cognyte Software

A number of institutional investors have recently made changes to their positions in CGNT. Tower Research Capital LLC TRC bought a new position in Cognyte Software during the 4th quarter worth $37,000. Covestor Ltd bought a new position in Cognyte Software during the 1st quarter worth $73,000. Russell Investments Group Ltd. grew its stake in Cognyte Software by 8,624.3% during the 4th quarter. Russell Investments Group Ltd. now owns 20,066 shares of the medical device company’s stock worth $129,000 after buying an additional 19,836 shares during the last quarter. Mackenzie Financial Corp grew its stake in Cognyte Software by 56.1% during the 4th quarter. Mackenzie Financial Corp now owns 21,986 shares of the medical device company’s stock worth $141,000 after buying an additional 7,899 shares during the last quarter. Finally, Quadrature Capital Ltd bought a new position in Cognyte Software during the 4th quarter worth $144,000. 72.92% of the stock is currently owned by institutional investors.

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.