StockNews.com Upgrades Cognyte Software (NASDAQ:CGNT) to “Strong-Buy”

Cognyte Software (NASDAQ:CGNT) was upgraded by investment analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued on Saturday.

Separately, Needham & Company LLC reaffirmed a “hold” rating on shares of Cognyte Software in a research note on Tuesday, April 8th.

Cognyte Software Trading Up 1.8 %

Shares of CGNT opened at $9.46 on Friday. Cognyte Software has a 12-month low of $6.21 and a 12-month high of $11.12. The firm has a market capitalization of $681.66 million, a P/E ratio of -49.79 and a beta of 1.76. The firm has a 50-day moving average price of $9.11 and a 200 day moving average price of $8.38.

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, beating the consensus estimate of $0.01 by $0.02. The business had revenue of $94.51 million during the quarter, compared to analysts’ expectations of $93.15 million. Cognyte Software had a negative net margin of 3.95% and a negative return on equity of 13.30%. During the same quarter in the prior year, the company posted ($0.23) EPS. Equities research analysts predict that Cognyte Software will post -0.2 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cognyte Software

Several large investors have recently made changes to their positions in the stock. Barclays PLC boosted its position in shares of Cognyte Software by 70.0% during the fourth quarter. Barclays PLC now owns 2,943 shares of the company’s stock worth $25,000 after buying an additional 1,212 shares during the period. R Squared Ltd acquired a new stake in shares of Cognyte Software during the fourth quarter worth about $26,000. Russell Investments Group Ltd. boosted its stake in shares of 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 period. Quantbot Technologies LP purchased a new position in Cognyte Software in the 4th quarter valued at approximately $71,000. Finally, Jane Street Group LLC purchased a new stake in shares of Cognyte Software during the fourth quarter worth $112,000. 72.92% of the stock is currently 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.