Cognyte Software (NASDAQ:CGNT) Upgraded by Zacks Research to “Hold” Rating

Zacks Research upgraded shares of Cognyte Software (NASDAQ:CGNT) from a strong sell rating to a hold rating in a report released on Monday,Zacks.com reports.

Separately, Wall Street Zen downgraded shares of Cognyte Software from a “buy” rating to a “hold” rating in a research note on Saturday, June 6th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $13.50.

Cognyte Software Stock Up 1.4%

Shares of NASDAQ:CGNT opened at $9.30 on Monday. The business has a 50 day moving average price of $9.00 and a 200 day moving average price of $8.81. Cognyte Software has a twelve month low of $6.29 and a twelve month high of $12.31. The company has a market cap of $687.27 million, a price-to-earnings ratio of -232.50 and a beta of 1.67.

Cognyte Software (NASDAQ:CGNT) last issued its quarterly earnings results on Wednesday, June 3rd. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.07). Cognyte Software had a negative return on equity of 0.45% and a negative net margin of 0.66%.The business had revenue of $105.49 million during the quarter, compared to the consensus estimate of $105.04 million. Cognyte Software has set its FY 2027 guidance at 0.470-0.470 EPS. Analysts anticipate that Cognyte Software will post 0.08 EPS for the current year.

Institutional Investors Weigh In On Cognyte Software

Institutional investors and hedge funds have recently bought and sold shares of the business. American Capital Management Inc. lifted its holdings in shares of Cognyte Software by 0.6% during the 3rd quarter. American Capital Management Inc. now owns 6,751,962 shares of the company’s stock worth $56,716,000 after acquiring an additional 39,721 shares during the period. Westerly Capital Management LLC increased its stake in Cognyte Software by 5.0% in the fourth quarter. Westerly Capital Management LLC now owns 1,155,000 shares of the company’s stock valued at $10,857,000 after acquiring an additional 55,000 shares during the period. Millennium Management LLC increased its stake in Cognyte Software by 101.9% in the first quarter. Millennium Management LLC now owns 921,853 shares of the company’s stock valued at $7,190,000 after acquiring an additional 465,307 shares during the period. Scalar Gauge Management LLC increased its stake in Cognyte Software by 14.6% in the fourth quarter. Scalar Gauge Management LLC now owns 904,099 shares of the company’s stock valued at $8,499,000 after acquiring an additional 115,000 shares during the period. Finally, Samjo Management LLC raised its position in Cognyte Software by 64.4% in the fourth quarter. Samjo Management LLC now owns 896,325 shares of the company’s stock worth $8,425,000 after purchasing an additional 351,150 shares in the last quarter. Institutional investors own 72.92% of the company’s stock.

Cognyte Software Company Profile

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.