Cognyte Software (NASDAQ:CGNT) Rating Reiterated by Needham & Company LLC

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

Other analysts also recently issued research reports about the company. Wedbush upped their price target on Cognyte Software from $5.00 to $8.00 and gave the stock a “neutral” rating in a research note on Thursday, April 11th. Evercore ISI raised their target price on Cognyte Software from $5.00 to $7.50 and gave the stock an “in-line” rating in a report on Wednesday, April 10th. Finally, StockNews.com lowered Cognyte Software from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 13th.

Cognyte Software Price Performance

Shares of CGNT stock traded down $0.59 during trading hours on Tuesday, reaching $7.42. The company had a trading volume of 556,577 shares, compared to its average volume of 363,832. The business has a fifty day simple moving average of $7.37 and a 200-day simple moving average of $7.08. The company has a market cap of $526.97 million, a price-to-earnings ratio of -32.48 and a beta of 1.74. Cognyte Software has a 12 month low of $4.00 and a 12 month high of $8.64.

Cognyte Software (NASDAQ:CGNT) last posted its earnings results on Tuesday, April 9th. The medical device company reported ($0.28) EPS for the quarter. Cognyte Software had a negative return on equity of 12.06% and a negative net margin of 4.97%. The business had revenue of $83.69 million for the quarter. On average, equities research analysts expect that Cognyte Software will post -0.3 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. New York State Common Retirement Fund lifted its holdings in Cognyte Software by 662.4% during the 3rd quarter. New York State Common Retirement Fund now owns 45,065 shares of the medical device company’s stock worth $217,000 after buying an additional 39,154 shares in the last quarter. Citigroup Inc. raised its position in Cognyte Software by 3.0% in the third quarter. Citigroup Inc. now owns 138,749 shares of the medical device company’s stock worth $667,000 after acquiring an additional 3,993 shares in the last quarter. Acadian Asset Management LLC raised its position in Cognyte Software by 203.6% in the third quarter. Acadian Asset Management LLC now owns 1,578,537 shares of the medical device company’s stock worth $7,577,000 after acquiring an additional 1,058,675 shares in the last quarter. Trexquant Investment LP acquired a new stake in Cognyte Software in the third quarter valued at $515,000. Finally, Legacy Advisors LLC grew its holdings in Cognyte Software by 10.7% in the third quarter. Legacy Advisors LLC now owns 114,200 shares of the medical device company’s stock valued at $549,000 after purchasing an additional 11,038 shares during the last quarter. Institutional investors and hedge funds 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.