Cognyte Software (NASDAQ:CGNT) Upgraded to “Strong-Buy” at StockNews.com

Cognyte Software (NASDAQ:CGNT) was upgraded by equities researchers at StockNews.com from a “buy” rating to a “strong-buy” rating in a report released on Wednesday.

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

Cognyte Software Trading Down 2.6 %

Shares of Cognyte Software stock traded down $0.18 during trading on Wednesday, hitting $6.67. 248,166 shares of the stock were exchanged, compared to its average volume of 316,649. Cognyte Software has a 1-year low of $4.00 and a 1-year high of $8.70. The stock has a market capitalization of $473.72 million, a price-to-earnings ratio of -39.24 and a beta of 1.73. The company has a fifty day moving average price of $6.99 and a 200-day moving average price of $7.29.

Cognyte Software (NASDAQ:CGNT) last issued 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 for the quarter, compared to analyst estimates of $83.69 million. During the same period in the prior year, the firm earned ($0.11) earnings per share. The company’s revenue was up 9.5% on a year-over-year basis. Equities research analysts forecast that Cognyte Software will post -0.28 EPS for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Topline Capital Partners, Lp bought 553,591 shares of the company’s stock in a transaction dated Wednesday, September 11th. The stock was purchased 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. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, major shareholder Topline Capital Partners, Lp bought 553,591 shares of the firm’s stock in a transaction on Wednesday, September 11th. The shares were purchased at an average price of $6.31 per share, with a total value of $3,493,159.21. Following the completion of the purchase, the insider now owns 8,604,144 shares in the company, valued at $54,292,148.64. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, insider Topline Capital Management, Ll purchased 416,040 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were purchased 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. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 62.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Signaturefd LLC lifted its position in 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 in the last quarter. nVerses Capital LLC purchased a new position in shares of Cognyte Software in the second quarter worth about $28,000. DT Investment Partners LLC purchased a new position in Cognyte Software in the 2nd quarter valued at approximately $62,000. Covestor Ltd bought a new stake in shares of Cognyte Software during the first quarter valued at about $73,000. Finally, Magnetar Financial LLC purchased a new stake in Cognyte Software in the 2nd quarter worth approximately $117,000. 72.92% of the stock is 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.