Cognyte Software (NASDAQ:CGNT) Rating Lowered to Hold at Zacks Research

Cognyte Software (NASDAQ:CGNT) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Monday, Zacks reports.

Several other equities analysts also recently weighed in on the company. Wall Street Zen upgraded Cognyte Software from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 10th. Weiss Ratings cut Cognyte Software from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $13.00.

Cognyte Software Stock Down 1.9%

CGNT stock opened at $8.46 on Monday. The stock has a market capitalization of $625.19 million, a P/E ratio of 287.33 and a beta of 1.63. The firm has a 50-day simple moving average of $8.75 and a 200-day simple moving average of $8.81. Cognyte Software has a 52 week low of $6.29 and a 52 week high of $12.31.

Cognyte Software (NASDAQ:CGNT) last released its quarterly earnings results on Wednesday, September 9th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.06. The firm had revenue of $109.24 million during the quarter, compared to the consensus estimate of $108.51 million. Cognyte Software had a negative net margin of 0.01% and a positive return on equity of 1.31%. Cognyte Software has set its FY 2027 guidance at 0.470-0.470 EPS. On average, analysts expect that Cognyte Software will post 0.14 earnings per share for the current year.

Institutional Trading of Cognyte Software

Several hedge funds have recently made changes to their positions in CGNT. American Capital Management Inc. purchased a new position in shares of Cognyte Software in the second quarter valued at approximately $54,292,000. Bank of America Corp DE increased its stake in Cognyte Software by 37.7% during the 1st quarter. Bank of America Corp DE now owns 296,769 shares of the company’s stock worth $2,404,000 after buying an additional 81,254 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in Cognyte Software during the 2nd quarter worth approximately $2,182,000. Bastion Asset Management Inc. acquired a new stake in Cognyte Software during the 1st quarter worth approximately $1,615,000. Finally, HighTower Advisors LLC lifted its holdings in Cognyte Software by 20.4% during the 3rd quarter. HighTower Advisors LLC now owns 166,111 shares of the company’s stock worth $1,444,000 after buying an additional 28,200 shares in the last quarter. Institutional investors and hedge funds own 72.92% of the company’s stock.

Cognyte Software Company Profile

Cognyte Software Ltd. develops analytics software for organizations that need to collect, process and analyze large volumes of data. Its platforms help customers combine information from multiple sources to identify patterns, connections and potential threats. The company’s solutions support intelligence analysis, investigations and operational decision-making. Customers include government and law enforcement agencies, national security organizations and communications service providers. Cognyte is based in Herzliya, Israel, and serves customers internationally.