Cognyte Software (NASDAQ:CGNT) Rating Increased to Strong-Buy at Zacks Research

Cognyte Software (NASDAQ:CGNT) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Monday, Zacks reports.

A number of other equities analysts also recently weighed in on the company. Weiss Ratings upgraded Cognyte Software from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Monday. Wall Street Zen raised Cognyte Software from a “hold” rating to a “buy” rating in a research report on Saturday. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $13.50.

Cognyte Software Price Performance

CGNT opened at $8.48 on Monday. Cognyte Software has a fifty-two week low of $6.29 and a fifty-two week high of $12.31. The firm has a market capitalization of $626.67 million, a P/E ratio of 267.33 and a beta of 1.67. The company’s 50-day moving average is $8.75 and its 200 day moving average is $8.97.

Cognyte Software (NASDAQ:CGNT) last issued its quarterly earnings data on Wednesday, September 9th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.06. The business had revenue of $109.24 million during the quarter, compared to the consensus estimate of $108.51 million. Cognyte Software had a negative net margin of 0.01% and a positive return on equity of 1.31%. Cognyte Software has set its FY 2027 guidance at 0.470-0.470 EPS. On average, equities research analysts expect that Cognyte Software will post 0.14 earnings per share for the current year.

Institutional Trading of Cognyte Software

A number of large investors have recently added to or reduced their stakes in CGNT. American Capital Management Inc. bought a new stake in Cognyte Software during the 2nd quarter worth approximately $54,292,000. Public Employees Retirement System of Ohio bought a new position in Cognyte Software in the 2nd quarter valued at $2,182,000. Bastion Asset Management Inc. bought a new position in Cognyte Software in the 1st quarter valued at $1,615,000. SG Americas Securities LLC grew its position in shares of Cognyte Software by 97.3% during the 1st quarter. SG Americas Securities LLC now owns 398,246 shares of the company’s stock valued at $3,226,000 after purchasing an additional 196,427 shares in the last quarter. Finally, Bank of America Corp DE grew its position in shares of Cognyte Software by 37.7% during the 1st quarter. Bank of America Corp DE now owns 296,769 shares of the company’s stock valued at $2,404,000 after purchasing an additional 81,254 shares in the last quarter. Hedge funds and other institutional investors own 72.92% of the company’s stock.

About Cognyte Software

Cognyte Software Ltd. (NASDAQ: CGNT) develops software and technology solutions that help governments and other organizations transform large volumes of data into actionable intelligence. Its platforms are designed to support investigative, security and intelligence operations by enabling users to collect, analyze, visualize and manage information from multiple sources.

The company’s product portfolio includes solutions for digital intelligence, investigative analytics, network intelligence and cyber-related investigations.