Zacks Research Upgrades Cognyte Software (NASDAQ:CGNT) to Hold

Cognyte Software (NASDAQ:CGNT) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

Separately, Wall Street Zen cut 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 given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Cognyte Software has an average rating of “Hold” and a consensus price target of $13.50.

Cognyte Software Trading Up 1.4%

Shares of CGNT opened at $9.30 on Monday. The business’s 50 day moving average is $9.00 and its 200 day moving average is $8.81. Cognyte Software has a 12-month low of $6.29 and a 12-month high of $12.31. The company has a market capitalization of $687.27 million, a PE ratio of -232.50 and a beta of 1.67.

Cognyte Software (NASDAQ:CGNT) last posted its quarterly earnings results on Wednesday, June 3rd. The company reported $0.03 earnings per share 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. Equities research analysts predict that Cognyte Software will post 0.08 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Silverberg Bernstein Capital Management LLC grew its position in Cognyte Software by 0.9% in the first quarter. Silverberg Bernstein Capital Management LLC now owns 163,997 shares of the company’s stock worth $1,328,000 after acquiring an additional 1,497 shares in the last quarter. Osaic Holdings Inc. lifted its stake in shares of Cognyte Software by 79.4% in the 2nd quarter. Osaic Holdings Inc. now owns 3,634 shares of the company’s stock valued at $34,000 after purchasing an additional 1,608 shares during the last quarter. Vident Advisory LLC boosted its holdings in shares of Cognyte Software by 2.6% in the 4th quarter. Vident Advisory LLC now owns 88,648 shares of the company’s stock worth $833,000 after purchasing an additional 2,225 shares during the period. Sei Investments Co. boosted its holdings in shares of Cognyte Software by 2.2% in the 2nd quarter. Sei Investments Co. now owns 140,882 shares of the company’s stock worth $1,302,000 after purchasing an additional 2,988 shares during the period. Finally, Rockefeller Capital Management L.P. lifted its position in Cognyte Software by 1,478.7% in the fourth 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 during 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.