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

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

Other equities analysts also recently issued reports about the stock. Wedbush boosted their target price on shares of Cognyte Software from $8.00 to $9.00 and gave the stock a neutral rating in a report on Thursday, June 20th. Needham & Company LLC reiterated a hold rating on shares of Cognyte Software in a research note on Tuesday, September 10th.

Cognyte Software Stock Performance

Shares of CGNT opened at $6.67 on Tuesday. The company has a 50 day moving average price of $7.14 and a 200-day moving average price of $7.41. Cognyte Software has a fifty-two week low of $4.00 and a fifty-two week high of $8.70. The stock has a market capitalization of $473.72 million, a PE ratio of -39.24 and a beta of 1.73.

Cognyte Software (NASDAQ:CGNT) last posted its earnings results on Tuesday, September 10th. The medical device company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates 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 company 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 earned ($0.11) earnings per share. Cognyte Software’s revenue was up 9.5% on a year-over-year basis. Equities research analysts forecast that Cognyte Software will post -0.31 EPS for the current year.

Insider Activity at Cognyte Software

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

Institutional Trading of Cognyte Software

Several large investors have recently made changes to their positions in the business. Signaturefd LLC boosted its holdings in Cognyte Software by 91.4% in the second quarter. Signaturefd LLC now owns 3,311 shares of the medical device company’s stock valued at $25,000 after purchasing an additional 1,581 shares during the last quarter. nVerses Capital LLC acquired a new stake in Cognyte Software during the second quarter worth about $28,000. DT Investment Partners LLC purchased a new position in Cognyte Software during the second quarter valued at approximately $62,000. Covestor Ltd purchased a new position in Cognyte Software during the first quarter valued at approximately $73,000. Finally, Magnetar Financial LLC acquired a new position in Cognyte Software in the second quarter valued at approximately $117,000. 72.92% of the stock is owned by hedge funds and other 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.