Cognyte Software (NASDAQ:CGNT) Announces Quarterly Earnings Results, Misses Expectations By $0.07 EPS

Cognyte Software (NASDAQ:CGNT) posted its quarterly earnings data on Wednesday. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.07), FiscalAI reports. The firm had revenue of $105.49 million for the quarter, compared to the consensus estimate of $105.04 million. Cognyte Software had a positive return on equity of 0.74% and a negative net margin of 0.16%.

Cognyte Software Stock Performance

NASDAQ:CGNT opened at $11.62 on Wednesday. The company has a market capitalization of $849.19 million, a PE ratio of -1,162.00 and a beta of 1.64. The company has a 50 day simple moving average of $9.51 and a two-hundred day simple moving average of $8.88. Cognyte Software has a fifty-two week low of $6.29 and a fifty-two week high of $12.31.

Institutional Trading of Cognyte Software

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CGNT. Osaic Holdings Inc. grew its holdings in Cognyte Software by 79.4% during the 2nd quarter. Osaic Holdings Inc. now owns 3,634 shares of the company’s stock worth $34,000 after acquiring an additional 1,608 shares during the period. Vident Advisory LLC grew its holdings in Cognyte Software by 2.6% during the 4th quarter. Vident Advisory LLC now owns 88,648 shares of the company’s stock worth $833,000 after acquiring an additional 2,225 shares during the period. Sei Investments Co. grew its holdings in Cognyte Software by 2.2% during the 2nd quarter. Sei Investments Co. now owns 140,882 shares of the company’s stock worth $1,302,000 after acquiring an additional 2,988 shares during the period. HRT Financial LP grew its holdings in Cognyte Software by 2.4% during the 4th quarter. HRT Financial LP now owns 133,055 shares of the company’s stock worth $1,250,000 after acquiring an additional 3,181 shares during the period. Finally, Quarry LP acquired a new stake in Cognyte Software during the 3rd quarter worth about $33,000. Institutional investors and hedge funds own 72.92% of the company’s stock.

Analyst Upgrades and Downgrades

CGNT has been the subject of a number of research reports. Lake Street Capital initiated coverage on shares of Cognyte Software in a report on Monday, March 2nd. They issued a “buy” rating and a $13.00 target price for the company. Zacks Research downgraded Cognyte Software from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Finally, Wall Street Zen downgraded Cognyte Software from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 9th. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $13.50.

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.