Cognyte Software (NASDAQ:CGNT) Stock Rating Lowered by Zacks Research

Cognyte Software (NASDAQ:CGNT) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Tuesday,Zacks.com reports.

A number of other brokerages have also recently commented on CGNT. Wall Street Zen cut shares of Cognyte Software from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 9th. Lake Street Capital began coverage on shares of Cognyte Software in a research note on Monday, March 2nd. They issued a “buy” rating and a $13.00 price objective for the company. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Cognyte Software currently has a consensus rating of “Hold” and an average price target of $13.50.

Cognyte Software Trading Down 1.6%

Shares of Cognyte Software stock opened at $10.23 on Tuesday. The stock has a 50 day moving average of $9.32 and a 200 day moving average of $8.82. Cognyte Software has a 12 month low of $6.29 and a 12 month high of $11.65. The firm has a market cap of $747.61 million, a PE ratio of -1,023.00 and a beta of 1.58.

Cognyte Software (NASDAQ:CGNT) last announced its quarterly earnings results on Wednesday, March 25th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.09. Cognyte Software had a positive return on equity of 0.74% and a negative net margin of 0.16%.The company had revenue of $106.24 million during the quarter, compared to analyst estimates of $106.20 million. As a group, equities research analysts forecast that Cognyte Software will post 0.17 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cognyte Software

Institutional investors and hedge funds have recently made changes to their positions in the business. Rockefeller Capital Management L.P. grew its stake in shares of Cognyte Software by 1,478.7% in the 4th quarter. Rockefeller Capital Management L.P. now owns 3,268 shares of the company’s stock worth $31,000 after buying an additional 3,061 shares in the last quarter. Osaic Holdings Inc. boosted its stake in shares of Cognyte Software by 79.4% during the 2nd quarter. Osaic Holdings Inc. now owns 3,634 shares of the company’s stock worth $34,000 after purchasing an additional 1,608 shares during the period. Quarry LP purchased a new position in shares of Cognyte Software during the 3rd quarter worth about $33,000. FourThought Financial Partners LLC purchased a new position in shares of Cognyte Software during the 4th quarter worth about $95,000. Finally, NewEdge Advisors LLC purchased a new position in shares of Cognyte Software during the 1st quarter worth about $94,000. 72.92% of the stock is owned by hedge funds and other institutional investors.

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.