Cognyte Software (NASDAQ:CGNT) Given Hold Rating at Needham & Company LLC

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

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

Cognyte Software Price Performance

Shares of CGNT stock opened at $9.58 on Wednesday. The firm’s 50-day moving average is $10.02 and its two-hundred day moving average is $9.34. Cognyte Software has a 12 month low of $6.21 and a 12 month high of $11.66. The company has a market capitalization of $690.31 million, a PE ratio of -50.42 and a beta of 1.73.

Cognyte Software (NASDAQ:CGNT) last posted its quarterly earnings results on Wednesday, June 11th. The company reported $0.07 EPS for the quarter. Cognyte Software had a negative net margin of 3.95% and a negative return on equity of 13.30%. The company had revenue of $95.55 million during the quarter, compared to analysts’ expectations of $93.96 million. Sell-side analysts forecast that Cognyte Software will post -0.2 EPS for the current year.

Institutional Investors Weigh In On Cognyte Software

Institutional investors have recently bought and sold shares of the business. Acadian Asset Management LLC lifted its position in shares of Cognyte Software by 5.6% during the first quarter. Acadian Asset Management LLC now owns 2,654,829 shares of the company’s stock worth $20,682,000 after purchasing an additional 140,793 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of Cognyte Software by 52.6% during the first quarter. Goldman Sachs Group Inc. now owns 131,140 shares of the company’s stock worth $1,023,000 after acquiring an additional 45,229 shares during the last quarter. Millennium Management LLC grew its position in Cognyte Software by 101.9% in the 1st quarter. Millennium Management LLC now owns 921,853 shares of the company’s stock valued at $7,190,000 after buying an additional 465,307 shares in the last quarter. Edenbrook Capital LLC grew its position in Cognyte Software by 1.3% in the 1st quarter. Edenbrook Capital LLC now owns 6,635,083 shares of the company’s stock valued at $51,754,000 after buying an additional 82,500 shares in the last quarter. Finally, PDT Partners LLC bought a new position in Cognyte Software in the 1st quarter valued at about $355,000. 72.92% of the stock is currently owned by hedge funds and other institutional investors.

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.