Cognyte Software (NASDAQ:CGNT) Downgraded by StockNews.com

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

CGNT has been the topic of several other research reports. Needham & Company LLC restated a “hold” rating on shares of Cognyte Software in a research report on Tuesday. Wedbush increased their target price on Cognyte Software from $8.00 to $9.00 and gave the company a “neutral” rating in a research note on Thursday, June 20th.

Cognyte Software Stock Up 0.2 %

Shares of NASDAQ CGNT opened at $6.31 on Wednesday. The stock’s 50-day simple moving average is $7.40 and its two-hundred day simple moving average is $7.49. Cognyte Software has a twelve month low of $4.00 and a twelve month high of $8.70. The firm has a market capitalization of $448.16 million, a P/E ratio of -37.12 and a beta of 1.74.

Cognyte Software (NASDAQ:CGNT) last posted its quarterly earnings data on Tuesday, September 10th. The medical device company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.07. The company had revenue of $84.40 million for the quarter, compared to analysts’ expectations of $83.69 million. Cognyte Software had a negative net margin of 3.70% and a negative return on equity of 5.94%. Cognyte Software’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.11) earnings per share. As a group, research analysts anticipate that Cognyte Software will post -0.31 EPS for the current fiscal year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Cognyte Software

Large investors have recently bought and sold shares of the stock. Scalar Gauge Management LLC boosted its position in Cognyte Software by 30.8% during the 2nd quarter. Scalar Gauge Management LLC now owns 425,032 shares of the medical device company’s stock valued at $3,247,000 after buying an additional 100,000 shares during the period. Magnetar Financial LLC bought a new position in shares of Cognyte Software during the second quarter valued at about $117,000. Acadian Asset Management LLC boosted its holdings in shares of Cognyte Software by 13.3% during the second quarter. Acadian Asset Management LLC now owns 2,611,449 shares of the medical device company’s stock worth $19,928,000 after purchasing an additional 306,479 shares during the period. nVerses Capital LLC bought a new stake in shares of Cognyte Software in the second quarter worth about $28,000. Finally, Legacy Advisors LLC increased its holdings in Cognyte Software by 1.4% during the 2nd quarter. Legacy Advisors LLC now owns 143,790 shares of the medical device company’s stock valued at $1,099,000 after purchasing an additional 2,041 shares during the period. 72.92% of the stock is owned by hedge funds and other institutional investors.

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.