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

StockNews.com downgraded shares of Cognyte Software (NASDAQ:CGNT) from a strong-buy rating to a buy rating in a research note issued to investors on Wednesday.

A number of other equities research analysts have also weighed in on CGNT. Needham & Company LLC restated a hold rating on shares of Cognyte Software in a report on Tuesday, September 10th. Wedbush increased their price objective on Cognyte Software from $8.00 to $9.00 and gave the stock a neutral rating in a research note on Thursday, June 20th.

Cognyte Software Stock Performance

Shares of Cognyte Software stock opened at $6.69 on Wednesday. The stock has a market capitalization of $475.14 million, a PE ratio of -39.35 and a beta of 1.73. Cognyte Software has a 52 week low of $4.00 and a 52 week high of $8.70. The stock has a 50 day moving average price of $7.03 and a two-hundred day moving average price of $7.36.

Cognyte Software (NASDAQ:CGNT) last posted its quarterly earnings results on Tuesday, September 10th. The medical device company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.07. Cognyte Software had a negative net margin of 1.35% and a negative return on equity of 2.56%. The business had revenue of $84.40 million during the quarter, compared to the consensus estimate of $83.69 million. During the same quarter last year, the firm posted ($0.11) EPS. Cognyte Software’s revenue was up 9.5% compared to the same quarter last year. Research analysts forecast that Cognyte Software will post -0.28 EPS for the current year.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Signaturefd LLC boosted its position in 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 during the period. Silverberg Bernstein Capital Management LLC lifted its stake in shares of Cognyte Software by 2.0% during the 3rd quarter. Silverberg Bernstein Capital Management LLC now owns 100,300 shares of the medical device company’s stock valued at $681,000 after buying an additional 2,000 shares in the last quarter. Legacy Advisors LLC boosted its holdings in Cognyte Software by 1.4% in 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 purchased a new position in Cognyte Software in the 2nd quarter valued at approximately $28,000. Finally, Essex Investment Management Co. LLC raised its holdings in 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 valued at $2,807,000 after acquiring an additional 5,244 shares during the period. Institutional investors own 72.92% of the company’s stock.

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.