Cognyte Software (NASDAQ:CGNT) Upgraded at Zacks Research

Key Points

• Cognyte Software has been upgraded to a "hold" rating by Zacks Research, reflecting a cautious outlook based on recent market analysis.
• Roth Capital has initiated coverage with a "buy" rating and a target price of $14.00, while the average consensus across analysts remains a "hold" rating.
• Institutional investors have shown significant interest, with 72.92% of shares now held by such investors, highlighting increasing confidence in the stock.

Cognyte Software (NASDAQ:CGNT - Get Free Report) was upgraded by Zacks Research to a "hold" rating in a note issued to investors on Monday,Zacks.com reports.

Several other research analysts have also commented on the company. Roth Capital started coverage on Cognyte Software in a research report on Friday, October 3rd. They issued a "buy" rating and a $14.00 target price for the company. Needham & Company LLC reissued a "hold" rating on shares of Cognyte Software in a report on Monday, July 28th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Cognyte Software in a report on Saturday, September 27th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Cognyte Software has an average rating of "Hold" and a consensus price target of $14.00.

Cognyte Software Stock Performance

Shares of NASDAQ:CGNT opened at $8.45 on Monday. The company has a market cap of $616.60 million, a P/E ratio of -140.81 and a beta of 1.63. Cognyte Software has a one year low of $6.38 and a one year high of $11.65. The business's 50-day simple moving average is $8.68 and its 200 day simple moving average is $9.25.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CGNT. Driehaus Capital Management LLC acquired a new stake in shares of Cognyte Software in the first quarter worth about $4,495,000. Millennium Management LLC lifted its position in shares of Cognyte Software by 101.9% during the 1st quarter. Millennium Management LLC now owns 921,853 shares of the company's stock worth $7,190,000 after purchasing an additional 465,307 shares during the last quarter. Marshall Wace LLP lifted its position in shares of Cognyte Software by 77.5% during the 2nd quarter. Marshall Wace LLP now owns 756,876 shares of the company's stock worth $6,994,000 after purchasing an additional 330,569 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Cognyte Software by 49.3% during the second quarter. Arrowstreet Capital Limited Partnership now owns 840,735 shares of the company's stock worth $7,768,000 after buying an additional 277,730 shares in the last quarter. Finally, G2 Investment Partners Management LLC acquired a new stake in Cognyte Software during the second quarter worth $2,460,000. Hedge funds and other 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.

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