StockNews.com Upgrades Cognyte Software (NASDAQ:CGNT) to Buy

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

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

Cognyte Software Stock Performance

Cognyte Software stock traded down $0.42 during midday trading on Friday, hitting $9.20. 885,203 shares of the company were exchanged, compared to its average volume of 291,132. The firm has a market capitalization of $661.42 million, a PE ratio of -48.42 and a beta of 1.77. Cognyte Software has a fifty-two week low of $6.21 and a fifty-two week high of $11.12. The business has a fifty day simple moving average of $9.14 and a two-hundred day simple moving average of $8.25.

Cognyte Software (NASDAQ:CGNT) last released its quarterly earnings results on Wednesday, April 2nd. The company reported $0.03 EPS for the quarter, beating the consensus estimate of $0.01 by $0.02. The company had revenue of $94.51 million for the quarter, compared to analyst estimates 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 last 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 year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CGNT. Quantbot Technologies LP purchased a new position in shares of Cognyte Software in the fourth quarter worth about $71,000. Public Employees Retirement System of Ohio acquired a new stake in Cognyte Software in the 3rd quarter valued at about $1,101,000. Value Base Ltd. purchased a new position in Cognyte Software in the 4th quarter worth approximately $49,471,000. William Blair Investment Management LLC boosted its holdings in shares of Cognyte Software by 2.5% during the 4th quarter. William Blair Investment Management LLC now owns 2,742,843 shares of the company’s stock worth $23,726,000 after purchasing an additional 67,024 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of Cognyte Software by 41.3% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 51,448 shares of the company’s stock valued at $445,000 after purchasing an additional 15,036 shares in the last quarter. Hedge funds and other institutional investors own 72.92% of the company’s stock.

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.