Wedbush Boosts Cognyte Software (NASDAQ:CGNT) Price Target to $8.00

Cognyte Software (NASDAQ:CGNT) had its price objective lifted by Wedbush from $5.00 to $8.00 in a report released on Thursday, Benzinga reports. They currently have a neutral rating on the medical device company’s stock.

CGNT has been the subject of several other research reports. Evercore ISI raised their price objective on Cognyte Software from $5.00 to $7.50 and gave the company an in-line rating in a report on Wednesday. Needham & Company LLC restated a hold rating on shares of Cognyte Software in a research note on Tuesday, April 9th. Finally, StockNews.com upgraded Cognyte Software from a buy rating to a strong-buy rating in a research note on Wednesday.

Cognyte Software Trading Down 4.1 %

Cognyte Software stock opened at $6.73 on Thursday. Cognyte Software has a 1-year low of $4.00 and a 1-year high of $8.53. The company has a fifty day simple moving average of $7.60 and a 200 day simple moving average of $6.14. The company has a market cap of $477.96 million, a P/E ratio of -29.26 and a beta of 1.68.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Quantbot Technologies LP acquired a new position in Cognyte Software during the first quarter worth approximately $45,000. Tower Research Capital LLC TRC bought a new position in shares of Cognyte Software during the 4th quarter worth approximately $37,000. Lazard Asset Management LLC acquired a new position in shares of Cognyte Software during the 2nd quarter worth approximately $56,000. State of Wyoming increased its holdings in shares of Cognyte Software by 72.9% during the 2nd quarter. State of Wyoming now owns 9,794 shares of the medical device company’s stock worth $60,000 after acquiring an additional 4,130 shares during the last quarter. Finally, State of Tennessee Treasury Department raised its stake in Cognyte Software by 73.2% in the 4th quarter. State of Tennessee Treasury Department now owns 12,364 shares of the medical device company’s stock valued at $80,000 after acquiring an additional 5,225 shares during the period. 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.