Needham & Company LLC Reaffirms “Hold” Rating for Cognyte Software (NASDAQ:CGNT)

Needham & Company LLC reissued their hold rating on shares of Cognyte Software (NASDAQ:CGNT) in a research note released on Wednesday morning,Benzinga reports.

Separately, StockNews.com downgraded shares of Cognyte Software from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th.

Cognyte Software Stock Down 4.4 %

Shares of NASDAQ CGNT opened at $9.20 on Wednesday. The firm has a market cap of $661.42 million, a P/E ratio of -48.42 and a beta of 1.77. Cognyte Software has a twelve month low of $6.21 and a twelve month high of $11.12. The company has a 50 day moving average of $9.14 and a 200 day moving average of $8.25.

Cognyte Software (NASDAQ:CGNT) last posted its quarterly earnings results on Wednesday, April 2nd. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.02. The firm had revenue of $94.51 million during the quarter, compared to analysts’ expectations of $93.15 million. Cognyte Software had a negative return on equity of 13.30% and a negative net margin of 3.95%. During the same quarter in the previous year, the business earned ($0.23) earnings per share. As a group, equities analysts expect that Cognyte Software will post -0.2 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cognyte Software

Hedge funds and other institutional investors have recently modified their holdings of the company. Barclays PLC grew its holdings in shares of Cognyte Software by 70.0% in the fourth quarter. Barclays PLC now owns 2,943 shares of the company’s stock worth $25,000 after acquiring an additional 1,212 shares during the period. R Squared Ltd bought a new stake in shares of Cognyte Software during the 4th quarter valued at about $26,000. Russell Investments Group Ltd. grew its stake in shares of Cognyte Software by 1,695.7% during the 4th 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 period. Quantbot Technologies LP purchased a new stake in shares of Cognyte Software during the 4th quarter valued at about $71,000. Finally, Jane Street Group LLC bought a new position in shares of Cognyte Software in the 4th quarter worth approximately $112,000. 72.92% of the stock is 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.