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

Needham & Company LLC reiterated their hold rating on shares of Cognyte Software (NASDAQ:CGNT - Free Report) in a research note published on Wednesday,Benzinga reports.

Separately, Wall Street Zen upgraded Cognyte Software from a "buy" rating to a "strong-buy" rating in a research note on Saturday, April 12th.

Cognyte Software Stock Down 2.0%

Shares of CGNT traded down $0.19 during mid-day trading on Wednesday, reaching $9.39. 486,180 shares of the company's stock were exchanged, compared to its average volume of 299,722. Cognyte Software has a 52-week low of $6.21 and a 52-week high of $11.66. The company has a market cap of $676.62 million, a price-to-earnings ratio of -49.42 and a beta of 1.73. The company has a 50-day simple moving average of $10.02 and a two-hundred day simple moving average of $9.34.

Cognyte Software (NASDAQ:CGNT - Get Free Report) last posted its quarterly earnings data on Wednesday, June 11th. The company reported $0.07 earnings per share for the quarter. Cognyte Software had a negative net margin of 3.95% and a negative return on equity of 13.30%. The business had revenue of $95.55 million during the quarter, compared to analyst estimates of $93.96 million. As a group, equities research analysts predict that Cognyte Software will post -0.2 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Barclays PLC increased its stake in Cognyte Software by 70.0% during the 4th quarter. Barclays PLC now owns 2,943 shares of the company's stock worth $25,000 after buying an additional 1,212 shares during the period. Signaturefd LLC lifted its stake in shares of Cognyte Software by 119.2% in the first quarter. Signaturefd LLC now owns 3,968 shares of the company's stock worth $31,000 after acquiring an additional 2,158 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in Cognyte Software by 1,695.7% in the fourth quarter. Russell Investments Group Ltd. now owns 4,130 shares of the company's stock valued at $36,000 after purchasing an additional 3,900 shares during the last quarter. Quantbot Technologies LP acquired a new stake in Cognyte Software during the 4th quarter valued at approximately $71,000. Finally, Jane Street Group LLC purchased a new stake in Cognyte Software during the 4th quarter worth approximately $112,000. 72.92% of the stock is currently owned by hedge funds and other institutional investors.

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.