Cognyte Software (NASDAQ:CGNT) Stock Rating Reaffirmed by Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of Cognyte Software (NASDAQ:CGNT) in a research note issued to investors on Tuesday morning, Benzinga reports.

Other equities research analysts have also issued research reports about the company. Wedbush raised their price objective on Cognyte Software from $8.00 to $9.00 and gave the company a neutral rating in a research note on Thursday, June 20th. StockNews.com upgraded Cognyte Software from a buy rating to a strong-buy rating in a research note on Friday, June 21st.

Cognyte Software Stock Performance

CGNT stock opened at $6.94 on Tuesday. Cognyte Software has a 1 year low of $4.00 and a 1 year high of $8.70. The firm has a market cap of $498.92 million, a P/E ratio of -40.82 and a beta of 1.74. The stock has a 50-day simple moving average of $7.39 and a 200-day simple moving average of $7.49.

Cognyte Software (NASDAQ:CGNT) last posted its earnings results on Tuesday, September 10th. The medical device company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.07. Cognyte Software had a negative return on equity of 2.56% and a negative net margin of 1.35%. The business 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 earned ($0.11) earnings per share. The company’s revenue for the quarter was up 9.5% compared to the same quarter last year. On average, equities research analysts predict that Cognyte Software will post -0.31 EPS for the current year.

Insider Buying and Selling at Cognyte Software

In other news, insider Topline Capital Management, Ll bought 416,040 shares of Cognyte Software stock in a transaction on Thursday, September 12th. The shares were bought at an average price of $6.30 per share, with a total value of $2,621,052.00. Following the acquisition, the insider now directly owns 9,020,184 shares in the company, valued at approximately $56,827,159.20. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Topline Capital Management, Ll bought 416,040 shares of Cognyte Software stock in a transaction on Thursday, September 12th. The shares were bought at an average price of $6.30 per share, with a total value of $2,621,052.00. Following the acquisition, the insider now directly owns 9,020,184 shares in the company, valued at approximately $56,827,159.20. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Topline Capital Partners, Lp bought 553,591 shares of Cognyte Software stock in a transaction on Wednesday, September 11th. The shares were purchased at an average cost of $6.31 per share, for a total transaction of $3,493,159.21. Following the acquisition, the insider now owns 8,604,144 shares in the company, valued at $54,292,148.64. The disclosure for this purchase can be found here. 62.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. G2 Investment Partners Management LLC lifted its holdings in Cognyte Software by 241.5% during the 4th quarter. G2 Investment Partners Management LLC now owns 1,366,163 shares of the medical device company’s stock worth $8,784,000 after buying an additional 966,163 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in shares of Cognyte Software by 30.3% in the 1st quarter. Acadian Asset Management LLC now owns 2,304,970 shares of the medical device company’s stock worth $19,041,000 after purchasing an additional 536,393 shares during the last quarter. Jump Financial LLC lifted its holdings in shares of Cognyte Software by 52.9% in the 4th quarter. Jump Financial LLC now owns 50,200 shares of the medical device company’s stock worth $323,000 after purchasing an additional 17,363 shares during the last quarter. Scalar Gauge Management LLC bought a new stake in shares of Cognyte Software in the 4th quarter worth approximately $2,001,000. Finally, Trexquant Investment LP lifted its holdings in shares of Cognyte Software by 43.0% in the 4th quarter. Trexquant Investment LP now owns 153,184 shares of the medical device company’s stock worth $985,000 after purchasing an additional 46,073 shares during the last quarter. Institutional investors own 72.92% of the company’s stock.

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.