Cognyte Software (NASDAQ:CGNT) Stock Rating Upgraded by StockNews.com

Cognyte Software (NASDAQ:CGNT) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Friday.

Separately, Needham & Company LLC restated a “hold” rating on shares of Cognyte Software in a report on Wednesday.

Cognyte Software Stock Down 4.4 %

Shares of CGNT opened at $9.20 on Friday. Cognyte Software has a 52-week low of $6.21 and a 52-week high of $11.12. The firm has a market capitalization of $661.42 million, a PE ratio of -48.42 and a beta of 1.77. The firm has a 50-day moving average price of $9.14 and a 200 day moving average price of $8.26.

Cognyte Software (NASDAQ:CGNT) last posted its quarterly earnings data on Wednesday, April 2nd. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $93.15 million. During the same period last year, the firm posted ($0.23) earnings per share. On average, equities analysts expect that Cognyte Software will post -0.2 EPS for the current year.

Institutional Trading of Cognyte Software

Hedge funds and other institutional investors have recently made changes to their positions in the business. Topline Capital Management LLC acquired a new position in Cognyte Software in the fourth quarter worth approximately $78,025,000. Value Base Ltd. bought a new stake in shares of Cognyte Software during the 4th quarter worth $49,471,000. William Blair Investment Management LLC grew its holdings in shares of Cognyte Software by 2.5% in the 4th quarter. William Blair Investment Management LLC now owns 2,742,843 shares of the company’s stock worth $23,726,000 after acquiring an additional 67,024 shares during the last quarter. Westerly Capital Management LLC grew its holdings in shares of Cognyte Software by 20.8% in the 4th quarter. Westerly Capital Management LLC now owns 900,000 shares of the company’s stock worth $7,785,000 after acquiring an additional 155,000 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. raised its position in shares of Cognyte Software by 8.9% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 818,729 shares of the company’s stock worth $7,082,000 after purchasing an additional 66,712 shares during the period. 72.92% of the stock is currently owned by 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.