Cognyte Software (NASDAQ:CGNT) Receives Hold Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their hold rating on shares of Cognyte Software (NASDAQ:CGNT) in a research report sent to investors on Wednesday morning,Benzinga reports.

Separately, StockNews.com downgraded Cognyte Software from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th.

Cognyte Software Stock Up 21.0 %

CGNT stock opened at $9.95 on Wednesday. Cognyte Software has a 52 week low of $6.21 and a 52 week high of $11.12. The business has a 50-day simple moving average of $9.14 and a 200 day simple moving average of $8.23. The company has a market cap of $715.35 million, a PE ratio of -52.37 and a beta of 1.77.

Cognyte Software (NASDAQ:CGNT) last announced its quarterly earnings data on Wednesday, April 2nd. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.02. Cognyte Software had a negative net margin of 3.95% and a negative return on equity of 13.30%. The business had revenue of $94.51 million for the quarter, compared to analysts’ expectations of $93.15 million. During the same period last year, the firm posted ($0.23) earnings per share. On average, analysts anticipate that Cognyte Software will post -0.2 EPS for the current fiscal year.

Institutional Trading of Cognyte Software

Several institutional investors have recently modified their holdings of CGNT. Public Employees Retirement System of Ohio lifted its holdings in Cognyte Software by 3.7% during the 4th quarter. Public Employees Retirement System of Ohio now owns 168,122 shares of the company’s stock worth $1,454,000 after buying an additional 6,009 shares during the period. Man Group plc lifted its stake in shares of Cognyte Software by 88.3% in the fourth quarter. Man Group plc now owns 79,035 shares of the company’s stock worth $684,000 after acquiring an additional 37,070 shares during the period. Millennium Management LLC boosted its holdings in Cognyte Software by 80.8% in the fourth quarter. Millennium Management LLC now owns 456,546 shares of the company’s stock valued at $3,949,000 after acquiring an additional 204,099 shares during the last quarter. D. E. Shaw & Co. Inc. increased its position in Cognyte Software by 8.9% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 818,729 shares of the company’s stock valued at $7,082,000 after purchasing an additional 66,712 shares during the period. Finally, Bank of America Corp DE raised its holdings in Cognyte Software by 149.3% during the 4th quarter. Bank of America Corp DE now owns 13,369 shares of the company’s stock worth $116,000 after purchasing an additional 8,007 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.