Cognyte Software (NASDAQ:CGNT) Price Target Raised to $7.50 at Evercore ISI

Cognyte Software (NASDAQ:CGNT) had its target price hoisted by Evercore ISI from $5.00 to $7.50 in a research report sent to investors on Wednesday morning, Benzinga reports. The firm currently has an in-line rating on the medical device company’s stock.

Several other equities analysts have also recently weighed in on CGNT. Needham & Company LLC restated a hold rating on shares of Cognyte Software in a report on Tuesday. StockNews.com downgraded shares of Cognyte Software from a strong-buy rating to a buy rating in a research note on Thursday, March 7th.

Cognyte Software Price Performance

Shares of NASDAQ CGNT opened at $6.97 on Wednesday. The stock has a market capitalization of $479.81 million, a price-to-earnings ratio of -11.81 and a beta of 1.68. The business has a 50-day moving average of $7.60 and a 200-day moving average of $6.11. Cognyte Software has a fifty-two week low of $3.75 and a fifty-two week high of $8.53.

Institutional Investors Weigh In On Cognyte Software

Several hedge funds have recently bought and sold shares of the company. Stephens Inc. AR lifted its stake in Cognyte Software by 6.1% in the 4th quarter. Stephens Inc. AR now owns 33,925 shares of the medical device company’s stock valued at $218,000 after purchasing an additional 1,950 shares during the last quarter. Geode Capital Management LLC lifted its position in Cognyte Software by 1.5% during the first quarter. Geode Capital Management LLC now owns 161,217 shares of the medical device company’s stock worth $547,000 after acquiring an additional 2,376 shares during the last quarter. Sei Investments Co. lifted its position in Cognyte Software by 13.5% during the first quarter. Sei Investments Co. now owns 23,242 shares of the medical device company’s stock worth $79,000 after acquiring an additional 2,765 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in Cognyte Software by 29.7% during the first quarter. Envestnet Asset Management Inc. now owns 13,112 shares of the medical device company’s stock worth $148,000 after acquiring an additional 3,000 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its position in Cognyte Software by 2.7% during the first quarter. Renaissance Technologies LLC now owns 129,700 shares of the medical device company’s stock worth $440,000 after acquiring an additional 3,400 shares during the last quarter. 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 also offers network intelligence analytics, open source and threat intelligence analytics, and operational intelligence analytics solutions.