StockNews.com Downgrades 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 Thursday.

CGNT has been the subject of a number of other research reports. Wedbush lifted their target price on shares of Cognyte Software from $5.00 to $8.00 and gave the stock a neutral rating in a research report on Thursday, April 11th. Needham & Company LLC reaffirmed a hold rating on shares of Cognyte Software in a research report on Friday, May 17th. Finally, Evercore ISI lifted their target price on shares of Cognyte Software from $5.00 to $7.50 and gave the stock an in-line rating in a research report on Wednesday, April 10th.

Cognyte Software Stock Down 3.0 %

Shares of NASDAQ CGNT opened at $7.84 on Thursday. Cognyte Software has a twelve month low of $4.00 and a twelve month high of $8.53. The firm has a market cap of $556.82 million, a P/E ratio of -34.09 and a beta of 1.74. The company has a 50 day moving average of $7.38 and a 200 day moving average of $7.05.

Cognyte Software (NASDAQ:CGNT) last announced its quarterly earnings data on Tuesday, April 9th. The medical device company reported ($0.28) earnings per share for the quarter. Cognyte Software had a negative return on equity of 12.06% and a negative net margin of 4.97%. The firm had revenue of $83.69 million during the quarter. As a group, equities analysts expect 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 hedge funds have recently modified their holdings of CGNT. Acadian Asset Management LLC grew its position in shares of Cognyte Software by 203.6% during the 3rd quarter. Acadian Asset Management LLC now owns 1,578,537 shares of the medical device company’s stock valued at $7,577,000 after acquiring an additional 1,058,675 shares during the period. G2 Investment Partners Management LLC grew its position in shares of Cognyte Software by 241.5% during the 4th quarter. G2 Investment Partners Management LLC now owns 1,366,163 shares of the medical device company’s stock valued at $8,784,000 after acquiring an additional 966,163 shares during the period. Essex Investment Management Co. LLC bought a new stake in shares of Cognyte Software during the 4th quarter valued at $2,149,000. Scalar Gauge Management LLC bought a new stake in shares of Cognyte Software during the 4th quarter valued at $2,001,000. Finally, Legato Capital Management LLC bought a new stake in shares of Cognyte Software during the 4th quarter valued at $864,000. 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.