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

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

Separately, Needham & Company LLC reiterated a “hold” rating on shares of Cognyte Software in a report on Tuesday, September 10th.

Cognyte Software Trading Down 0.3 %

NASDAQ:CGNT opened at $6.65 on Wednesday. Cognyte Software has a twelve month low of $4.00 and a twelve month high of $8.70. The company has a 50-day moving average of $6.98 and a 200-day moving average of $7.28. The firm has a market cap of $472.30 million, a price-to-earnings ratio of -39.24 and a beta of 1.73.

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, beating the consensus estimate of ($0.02) by $0.07. Cognyte Software had a negative net margin of 1.35% and a negative return on equity of 2.56%. The company had revenue of $84.40 million during the quarter, compared to analyst estimates of $83.69 million. During the same quarter last year, the firm posted ($0.11) EPS. The business’s revenue for the quarter was up 9.5% on a year-over-year basis. On average, research analysts forecast that Cognyte Software will post -0.28 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Topline Capital Management, Ll purchased 416,040 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was acquired at an average cost of $6.30 per share, for a total transaction of $2,621,052.00. Following the completion of the acquisition, the insider now owns 9,020,184 shares in the company, valued at $56,827,159.20. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Topline Capital Management, Ll purchased 416,040 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was acquired at an average cost of $6.30 per share, for a total transaction of $2,621,052.00. Following the completion of the acquisition, the insider now owns 9,020,184 shares in the company, valued at $56,827,159.20. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Topline Capital Partners, Lp purchased 553,591 shares of the firm’s stock in a transaction that occurred on 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 completion of the acquisition, the insider now owns 8,604,144 shares of the company’s stock, valued at $54,292,148.64. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 62.70% of the company’s stock.

Institutional Trading of Cognyte Software

Institutional investors have recently made changes to their positions in the stock. Signaturefd LLC raised its position in Cognyte Software by 91.4% during the second 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 in the last quarter. nVerses Capital LLC bought a new position in Cognyte Software during the second quarter valued at approximately $28,000. DT Investment Partners LLC bought a new position in Cognyte Software during the second quarter valued at approximately $62,000. Covestor Ltd bought a new position in Cognyte Software during the first quarter valued at approximately $73,000. Finally, Magnetar Financial LLC bought a new position in Cognyte Software during the second quarter valued at approximately $117,000. 72.92% of the stock is currently owned by institutional investors and hedge funds.

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.