StockNews.com Upgrades Cognyte Software (NASDAQ:CGNT) to Strong-Buy

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

CGNT has been the subject of several other research reports. Needham & Company LLC restated a hold rating on shares of Cognyte Software in a research report on Tuesday, September 10th. Wedbush raised their price target on shares of Cognyte Software from $8.00 to $9.00 and gave the company a neutral rating in a report on Thursday, June 20th.

Cognyte Software Price Performance

NASDAQ CGNT opened at $6.79 on Thursday. The stock’s 50 day simple moving average is $7.34 and its 200 day simple moving average is $7.47. Cognyte Software has a one year low of $4.00 and a one year high of $8.70. The firm has a market cap of $482.25 million, a PE ratio of -39.94 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 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $84.40 million for the quarter, compared to analyst estimates of $83.69 million. During the same quarter in the previous year, the firm earned ($0.11) earnings per share. The business’s revenue was up 9.5% on a year-over-year basis. As a group, equities analysts expect that Cognyte Software will post -0.31 earnings per share for the current year.

Insider Activity at Cognyte Software

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

Hedge Funds Weigh In On Cognyte Software

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Signaturefd LLC increased its stake in shares of 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 acquiring an additional 1,581 shares during the last quarter. Legacy Advisors LLC grew its holdings in Cognyte Software by 1.4% during the second 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. nVerses Capital LLC bought a new stake in Cognyte Software in the second quarter valued at approximately $28,000. Essex Investment Management Co. LLC raised its holdings in Cognyte Software by 1.6% in the first quarter. Essex Investment Management Co. LLC now owns 339,452 shares of the medical device company’s stock worth $2,807,000 after purchasing an additional 5,244 shares during the period. Finally, Silverberg Bernstein Capital Management LLC boosted its position in shares of Cognyte Software by 7.7% during the second quarter. Silverberg Bernstein Capital Management LLC now owns 98,300 shares of the medical device company’s stock worth $751,000 after purchasing an additional 7,000 shares in the last quarter. Institutional investors 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.