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

Cognyte Software (NASDAQ:CGNT) was downgraded by stock analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Wednesday.

A number of other equities analysts have also recently weighed in on the stock. Wedbush upped their price target on shares of Cognyte Software from $8.00 to $9.00 and gave the stock a “neutral” rating in a research note on Thursday, June 20th. Needham & Company LLC restated a “hold” rating on shares of Cognyte Software in a research report on Tuesday, September 10th.

Cognyte Software Stock Performance

Shares of Cognyte Software stock opened at $6.61 on Wednesday. Cognyte Software has a one year low of $4.00 and a one year high of $8.70. The company has a market cap of $469.46 million, a P/E ratio of -38.88 and a beta of 1.73. The firm has a fifty day moving average of $7.10 and a two-hundred day moving average of $7.39.

Cognyte Software (NASDAQ:CGNT) last posted its quarterly earnings results on Tuesday, September 10th. The medical device company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.07. Cognyte Software had a negative net margin of 1.35% and a negative return on equity of 2.56%. The firm had revenue of $84.40 million during the quarter, compared to analysts’ expectations of $83.69 million. During the same period in the prior year, the company posted ($0.11) earnings per share. The firm’s revenue for the quarter was up 9.5% on a year-over-year basis. As a group, equities analysts predict that Cognyte Software will post -0.31 earnings per share for the current year.

Insider Buying and Selling at Cognyte Software

In other news, insider Topline Capital Management, Ll purchased 416,040 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was acquired at an average price of $6.30 per share, with a total value of $2,621,052.00. Following the purchase, the insider now directly owns 9,020,184 shares of the company’s stock, valued at $56,827,159.20. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, major shareholder Topline Capital Partners, Lp bought 553,591 shares of Cognyte Software stock in a transaction that occurred on Wednesday, September 11th. The shares were purchased at an average price of $6.31 per share, with a total value of $3,493,159.21. Following the purchase, the insider now owns 8,604,144 shares in the company, valued at $54,292,148.64. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Topline Capital Management, Ll purchased 416,040 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were bought at an average cost of $6.30 per share, with a total value of $2,621,052.00. Following the transaction, the insider now directly owns 9,020,184 shares of the company’s stock, valued at $56,827,159.20. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 62.70% of the stock is owned by corporate insiders.

Institutional Trading of Cognyte Software

A number of large investors have recently made changes to their positions in CGNT. Signaturefd LLC lifted its holdings in Cognyte Software by 91.4% in the 2nd quarter. Signaturefd LLC now owns 3,311 shares of the medical device company’s stock valued at $25,000 after purchasing an additional 1,581 shares in the last quarter. nVerses Capital LLC purchased a new position in shares of Cognyte Software during the second quarter valued at approximately $28,000. DT Investment Partners LLC acquired a new stake in Cognyte Software during the second quarter worth approximately $62,000. Covestor Ltd purchased a new stake in Cognyte Software in the 1st quarter worth approximately $73,000. Finally, Magnetar Financial LLC acquired a new position in Cognyte Software in the 2nd quarter valued at $117,000. Institutional investors and hedge funds 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.