Cognyte Software (NASDAQ:CGNT) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Cognyte Software (NASDAQ:CGNT) from a buy rating to a strong-buy rating in a research report sent to investors on Thursday.

Other research analysts also recently issued reports about the stock. Wedbush increased their price target on shares of Cognyte Software from $8.00 to $9.00 and gave the stock a neutral rating in a research report on Thursday, June 20th. Needham & Company LLC reaffirmed a hold rating on shares of Cognyte Software in a report on Tuesday, September 10th.

Cognyte Software Price Performance

NASDAQ CGNT opened at $6.71 on Thursday. The stock has a market capitalization of $476.56 million, a price-to-earnings ratio of -39.47 and a beta of 1.74. Cognyte Software has a 1-year low of $4.00 and a 1-year high of $8.70. The business’s fifty day moving average price is $7.30 and its 200-day moving average price is $7.46.

Cognyte Software (NASDAQ:CGNT) last announced its 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 return on equity of 2.56% and a negative net margin of 1.35%. The business had revenue of $84.40 million for the quarter, compared to analysts’ expectations of $83.69 million. During the same period last year, the firm posted ($0.11) earnings per share. The business’s revenue for the quarter was up 9.5% on a year-over-year basis. Equities research analysts anticipate that Cognyte Software will post -0.31 EPS for the current year.

Insider Buying and Selling at Cognyte Software

In other news, major shareholder Topline Capital Partners, Lp acquired 553,591 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The shares were purchased at an average cost of $6.31 per share, for a total transaction of $3,493,159.21. Following the transaction, the insider now directly owns 8,604,144 shares of the company’s stock, valued at $54,292,148.64. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, insider Topline Capital Management, Ll purchased 416,040 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was acquired at an average price of $6.30 per share, for a total transaction of $2,621,052.00. Following the acquisition, the insider now directly owns 9,020,184 shares of the company’s stock, valued at approximately $56,827,159.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Topline Capital Partners, Lp bought 553,591 shares of the stock in a transaction dated 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 completion of the transaction, the insider now directly owns 8,604,144 shares in the company, valued at approximately $54,292,148.64. The disclosure for this purchase can be found here. Insiders own 62.70% of the company’s stock.

Institutional Trading of Cognyte Software

Large investors have recently made changes to their positions in the business. Signaturefd LLC grew its position in Cognyte Software by 91.4% in the second quarter. Signaturefd LLC now owns 3,311 shares of the medical device company’s stock worth $25,000 after acquiring an additional 1,581 shares in the last quarter. Legacy Advisors LLC boosted its holdings in shares of Cognyte Software by 1.4% in the 2nd quarter. Legacy Advisors LLC now owns 143,790 shares of the medical device company’s stock worth $1,099,000 after purchasing an additional 2,041 shares during the period. nVerses Capital LLC purchased a new stake in Cognyte Software during the 2nd quarter valued at $28,000. Essex Investment Management Co. LLC raised its holdings in Cognyte Software by 1.6% during the 1st quarter. Essex Investment Management Co. LLC now owns 339,452 shares of the medical device company’s stock valued at $2,807,000 after buying an additional 5,244 shares during the period. Finally, Silverberg Bernstein Capital Management LLC lifted its position in Cognyte Software by 7.7% in the second quarter. Silverberg Bernstein Capital Management LLC now owns 98,300 shares of the medical device company’s stock worth $751,000 after buying an additional 7,000 shares during the last quarter. 72.92% of the stock is currently owned by institutional investors.

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.