Cognyte Software (NASDAQ:CGNT) Price Target Raised to $9.00 at Wedbush

Cognyte Software (NASDAQ:CGNT) had its price objective boosted by Wedbush from $8.00 to $9.00 in a research note published on Thursday morning, Benzinga reports. They currently have a neutral rating on the medical device company’s stock.

CGNT has been the topic of a number of other research reports. Evercore ISI upped their price target on Cognyte Software from $5.00 to $7.50 and gave the company an in-line rating in a research report on Wednesday, April 10th. Needham & Company LLC reaffirmed a hold rating on shares of Cognyte Software in a research report on Tuesday. Finally, StockNews.com cut Cognyte Software from a strong-buy rating to a buy rating in a research report on Thursday, June 13th.

Cognyte Software Trading Down 2.2 %

CGNT stock opened at $7.43 on Thursday. The stock’s fifty day simple moving average is $7.39 and its two-hundred day simple moving average is $7.10. Cognyte Software has a 1-year low of $4.00 and a 1-year high of $8.70. The stock has a market cap of $527.70 million, a P/E ratio of -43.71 and a beta of 1.74.

Cognyte Software (NASDAQ:CGNT) last issued its quarterly earnings results on Tuesday, June 18th. The medical device company reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.03. Cognyte Software had a negative return on equity of 5.98% and a negative net margin of 3.70%. The firm had revenue of $82.70 million for the quarter, compared to analysts’ expectations of $82.05 million. During the same quarter in the prior year, the firm earned ($0.25) EPS. The business’s revenue for the quarter was up 12.7% compared to the same quarter last year. As a group, analysts forecast that Cognyte Software will post -0.3 earnings per share for the current fiscal year.

Institutional Trading of Cognyte Software

A number of institutional investors have recently added to or reduced their stakes in CGNT. New York State Common Retirement Fund lifted its holdings in Cognyte Software by 662.4% during the 3rd quarter. New York State Common Retirement Fund now owns 45,065 shares of the medical device company’s stock worth $217,000 after purchasing an additional 39,154 shares in the last quarter. Citigroup Inc. increased its stake in Cognyte Software by 3.0% in the 3rd quarter. Citigroup Inc. now owns 138,749 shares of the medical device company’s stock worth $667,000 after acquiring an additional 3,993 shares during the last quarter. Acadian Asset Management LLC increased its stake in Cognyte Software by 203.6% in the 3rd quarter. Acadian Asset Management LLC now owns 1,578,537 shares of the medical device company’s stock worth $7,577,000 after acquiring an additional 1,058,675 shares during the last quarter. Trexquant Investment LP bought a new position in Cognyte Software in the 3rd quarter worth about $515,000. Finally, Legacy Advisors LLC increased its stake in Cognyte Software by 10.7% in the 3rd quarter. Legacy Advisors LLC now owns 114,200 shares of the medical device company’s stock worth $549,000 after acquiring an additional 11,038 shares during the last quarter. Hedge funds and other institutional investors own 72.92% of the company’s stock.

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.