Cognyte Software (NASDAQ:CGNT) Upgraded at Zacks Research

Zacks Research upgraded shares of Cognyte Software (NASDAQ:CGNT) from a hold rating to a strong-buy rating in a research report sent to investors on Wednesday,Zacks.com reports.

Several other research analysts also recently commented on CGNT. Weiss Ratings reissued a “sell (d-)” rating on shares of Cognyte Software in a report on Wednesday, January 21st. Lake Street Capital assumed coverage on Cognyte Software in a report on Monday, March 2nd. They issued a “buy” rating and a $13.00 target price on the stock. Finally, Wall Street Zen upgraded Cognyte Software from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 28th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $13.50.

Cognyte Software Price Performance

CGNT stock opened at $8.11 on Wednesday. Cognyte Software has a 1-year low of $6.29 and a 1-year high of $11.65. The company has a market capitalization of $592.68 million, a price-to-earnings ratio of -811.00 and a beta of 1.53. The business has a 50 day simple moving average of $7.88 and a two-hundred day simple moving average of $8.46.

Cognyte Software (NASDAQ:CGNT) last released its quarterly earnings data on Wednesday, March 25th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.09. Cognyte Software had a negative net margin of 0.16% and a positive return on equity of 0.74%. The firm had revenue of $106.24 million for the quarter, compared to analysts’ expectations of $106.20 million. Sell-side analysts anticipate that Cognyte Software will post -0.2 EPS for the current fiscal year.

Institutional Trading of Cognyte Software

A number of institutional investors have recently bought and sold shares of 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 valued at $34,000 after purchasing an additional 1,608 shares during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its position in shares of Cognyte Software by 1.9% during the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 94,944 shares of the company’s stock valued at $798,000 after buying an additional 1,738 shares during the period. Vanguard Personalized Indexing Management LLC boosted its position in shares of Cognyte Software by 16.0% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 13,398 shares of the company’s stock valued at $113,000 after buying an additional 1,849 shares during the period. Vident Advisory LLC grew its stake in shares of Cognyte Software by 2.6% during the fourth quarter. Vident Advisory LLC now owns 88,648 shares of the company’s stock valued at $833,000 after buying an additional 2,225 shares during the last quarter. Finally, Sei Investments Co. raised its holdings in shares of Cognyte Software by 2.2% in the second quarter. Sei Investments Co. now owns 140,882 shares of the company’s stock worth $1,302,000 after buying an additional 2,988 shares during the period. 72.92% of the stock is currently owned by institutional investors.

About Cognyte Software

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.