Cognyte Software (NASDAQ:CGNT) Downgraded by Wall Street Zen to Hold

Wall Street Zen lowered shares of Cognyte Software (NASDAQ:CGNT) from a buy rating to a hold rating in a report released on Saturday morning.

Several other research analysts have also issued reports on the company. Roth Capital initiated coverage on Cognyte Software in a research note on Friday, October 3rd. They set a “buy” rating and a $14.00 price objective for the company. Zacks Research upgraded Cognyte Software to a “hold” rating in a report on Monday, October 6th. Needham & Company LLC restated a “hold” rating on shares of Cognyte Software in a report on Monday, July 28th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Cognyte Software in a report on Wednesday. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $14.00.

Cognyte Software Price Performance

Cognyte Software stock opened at $8.10 on Friday. The stock has a fifty day moving average price of $8.63 and a two-hundred day moving average price of $9.25. Cognyte Software has a 52-week low of $6.38 and a 52-week high of $11.65. The firm has a market capitalization of $591.06 million, a P/E ratio of -134.98 and a beta of 1.63.

Hedge Funds Weigh In On Cognyte Software

Several hedge funds have recently added to or reduced their stakes in the company. Algert Global LLC boosted its holdings in Cognyte Software by 5.0% in the first quarter. Algert Global LLC now owns 32,388 shares of the company’s stock valued at $253,000 after acquiring an additional 1,530 shares during the last quarter. Osaic Holdings Inc. lifted its stake in Cognyte Software by 79.4% in the second quarter. Osaic Holdings Inc. now owns 3,634 shares of the company’s stock valued at $34,000 after buying an additional 1,608 shares during the period. Signaturefd LLC lifted its stake in Cognyte Software by 119.2% in the first quarter. Signaturefd LLC now owns 3,968 shares of the company’s stock valued at $31,000 after buying an additional 2,158 shares during the period. Jump Financial LLC lifted its stake in Cognyte Software by 5.7% in the first quarter. Jump Financial LLC now owns 43,141 shares of the company’s stock valued at $336,000 after buying an additional 2,341 shares during the period. Finally, Sei Investments Co. lifted its stake in Cognyte Software by 2.2% in the second quarter. Sei Investments Co. now owns 140,882 shares of the company’s stock valued at $1,302,000 after buying an additional 2,988 shares during the period. 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.