Cognyte Software (NASDAQ:CGNT) Downgraded by Zacks Research to “Hold”

Cognyte Software (NASDAQ:CGNT) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Tuesday,Zacks.com reports.

Other equities research analysts have also recently issued reports about the company. Lake Street Capital initiated coverage on Cognyte Software in a research note on Monday, March 2nd. They set a “buy” rating and a $13.00 price objective for the company. Wall Street Zen cut Cognyte Software from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 9th. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $13.50.

Cognyte Software Stock Down 1.6%

CGNT stock opened at $10.23 on Tuesday. The company has a market cap of $747.61 million, a P/E ratio of -1,023.00 and a beta of 1.58. Cognyte Software has a twelve month low of $6.29 and a twelve month high of $11.65. The business has a fifty day moving average of $9.32 and a 200-day moving average of $8.82.

Cognyte Software (NASDAQ:CGNT) last released its earnings results on Wednesday, March 25th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.09. Cognyte Software had a positive return on equity of 0.74% and a negative net margin of 0.16%.The company had revenue of $106.24 million during the quarter, compared to the consensus estimate of $106.20 million. As a group, equities research analysts anticipate that Cognyte Software will post 0.17 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cognyte Software

Several large investors have recently modified their holdings of the business. Silverberg Bernstein Capital Management LLC increased its holdings in shares of Cognyte Software by 0.9% in the first quarter. Silverberg Bernstein Capital Management LLC now owns 163,997 shares of the company’s stock worth $1,328,000 after acquiring an additional 1,497 shares in the last quarter. Osaic Holdings Inc. increased its holdings in shares of Cognyte Software by 79.4% in the second quarter. Osaic Holdings Inc. now owns 3,634 shares of the company’s stock worth $34,000 after acquiring an additional 1,608 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd increased its holdings in shares of Cognyte Software by 1.9% in the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 94,944 shares of the company’s stock worth $798,000 after acquiring an additional 1,738 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its holdings in shares of Cognyte Software by 16.0% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 13,398 shares of the company’s stock worth $113,000 after acquiring an additional 1,849 shares in the last quarter. Finally, Vident Advisory LLC increased its holdings in shares of Cognyte Software by 2.6% in the fourth quarter. Vident Advisory LLC now owns 88,648 shares of the company’s stock worth $833,000 after acquiring an additional 2,225 shares in the last quarter. 72.92% of the stock is currently owned by institutional investors.

Cognyte Software Company Profile

Cognyte Software Ltd. is a global provider of security analytics solutions that was spun off from NICE Ltd. in early 2021. Headquartered in Israel, the company delivers specialized software and services designed to help government agencies, law enforcement organizations and critical infrastructure operators process and analyze large volumes of data for intelligence and investigative purposes.

The company’s core offerings include advanced analytics platforms that aggregate and visualize structured and unstructured data from diverse sources, such as communications metadata, open-source intelligence and sensor feeds.