Needham & Company LLC Reaffirms “Hold” Rating for Cognyte Software (NASDAQ:CGNT)

Needham & Company LLC reiterated their hold rating on shares of Cognyte Software (NASDAQ:CGNT) in a report published on Thursday,Benzinga reports.

Separately, Wall Street Zen upgraded Cognyte Software from a “buy” rating to a “strong-buy” rating in a report on Saturday, April 12th.

Cognyte Software Stock Down 0.1%

Shares of NASDAQ:CGNT opened at $10.68 on Thursday. The firm has a fifty day simple moving average of $9.40 and a two-hundred day simple moving average of $9.03. Cognyte Software has a 52 week low of $6.21 and a 52 week high of $11.12. The stock has a market capitalization of $769.57 million, a P/E ratio of -56.21 and a beta of 1.72.

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

Institutional Investors Weigh In On Cognyte Software

Several hedge funds and other institutional investors have recently made changes to their positions in CGNT. R Squared Ltd purchased a new position in shares of Cognyte Software during the 4th quarter worth about $26,000. William Blair Investment Management LLC lifted its stake in Cognyte Software by 2.5% in the fourth quarter. William Blair Investment Management LLC now owns 2,742,843 shares of the company’s stock worth $23,726,000 after purchasing an additional 67,024 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Cognyte Software by 41.3% during the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 51,448 shares of the company’s stock valued at $445,000 after buying an additional 15,036 shares during the period. Value Base Ltd. purchased a new position in shares of Cognyte Software during the fourth quarter valued at approximately $49,471,000. Finally, Quantbot Technologies LP bought a new position in shares of Cognyte Software during the fourth quarter valued at approximately $71,000. Hedge funds and other institutional investors own 72.92% of the company’s stock.

About Cognyte Software

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.