Cognyte Software (NASDAQ:CGNT) Upgraded at StockNews.com

StockNews.com upgraded shares of Cognyte Software (NASDAQ:CGNT) from a hold rating to a buy rating in a research note issued to investors on Friday morning.

Separately, Needham & Company LLC reaffirmed a “hold” rating on shares of Cognyte Software in a research report on Wednesday, April 2nd.

Cognyte Software Stock Down 4.4 %

Shares of CGNT stock opened at $9.20 on Friday. Cognyte Software has a fifty-two week low of $6.21 and a fifty-two week high of $11.12. The firm’s 50 day moving average price is $9.14 and its two-hundred day moving average price is $8.27. The stock has a market cap of $661.42 million, a price-to-earnings ratio of -48.42 and a beta of 1.77.

Cognyte Software (NASDAQ:CGNT) last issued its earnings results on Wednesday, April 2nd. The company reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.02. Cognyte Software had a negative net margin of 3.95% and a negative return on equity of 13.30%. The business had revenue of $94.51 million for the quarter, compared to the consensus estimate of $93.15 million. During the same quarter last year, the firm posted ($0.23) EPS. On average, equities analysts forecast that Cognyte Software will post -0.2 EPS for the current fiscal year.

Institutional Investors Weigh In On Cognyte Software

Large investors have recently added to or reduced their stakes in the company. Barclays PLC boosted its position in Cognyte Software by 70.0% in the 4th quarter. Barclays PLC now owns 2,943 shares of the company’s stock valued at $25,000 after buying an additional 1,212 shares during the last quarter. R Squared Ltd purchased a new position in Cognyte Software in the fourth quarter valued at about $26,000. Russell Investments Group Ltd. boosted its holdings in Cognyte Software by 1,695.7% in the fourth quarter. Russell Investments Group Ltd. now owns 4,130 shares of the company’s stock valued at $36,000 after purchasing an additional 3,900 shares during the last quarter. Quantbot Technologies LP acquired a new stake in Cognyte Software during the 4th quarter valued at approximately $71,000. Finally, Jane Street Group LLC purchased a new stake in Cognyte Software during the 4th quarter worth approximately $112,000. 72.92% of the stock is owned by institutional investors and hedge funds.

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.