Cognyte Software Ltd. (NASDAQ:CGNT – Get Rating) was the target of unusually large options trading on Friday. Stock investors bought 5,005 call options on the stock. This is an increase of approximately 995% compared to the typical daily volume of 457 call options.
Analyst Upgrades and Downgrades
CGNT has been the topic of several recent research reports. StockNews.com downgraded Cognyte Software from a “hold” rating to a “sell” rating in a research note on Tuesday, December 13th. Stifel Nicolaus dropped their price target on Cognyte Software from $6.00 to $3.00 and set a “hold” rating on the stock in a research note on Wednesday. One equity research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $8.00.
Cognyte Software Price Performance
Shares of NASDAQ CGNT opened at $2.75 on Friday. The stock has a market capitalization of $185.57 million, a price-to-earnings ratio of -1.86 and a beta of 1.41. The business has a 50-day moving average of $2.86 and a 200-day moving average of $4.19. Cognyte Software has a fifty-two week low of $2.31 and a fifty-two week high of $16.11.
Cognyte Software (NASDAQ:CGNT – Get Rating) last announced its quarterly earnings data on Wednesday, September 28th. The medical device company reported earnings per share for the quarter ($0.43), missing the consensus estimate of ($0.25) by ($0.18). The company had revenue of $81.10 million during the quarter, compared to the consensus estimate of $92.47 million. Cognyte Software had a negative net margin of 27.34% and a negative return on equity of 47.95%. Cognyte Software’s revenue was down 30.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.17 EPS. On average, sell-side analysts expect that Cognyte Software will post -1.35 EPS for the current year.
Hedge Funds Weigh In On Cognyte Software
A number of institutional investors have recently bought and sold shares of CGNT. Investnet Asset Management Inc. increased its position in Cognyte Software by 29.7% during the first quarter. Investnet Asset Management Inc. now owns 13,112 shares of the medical device company’s stock worth $148,000 after buying an additional 3,000 shares during the last quarter. Swiss National Bank grew its position in shares of Cognyte Software by 9.1% in the first quarter. Swiss National Bank now owns 158,800 shares of the medical device company’s stock valued at $1,796,000 after purchasing an additional 13,300 shares during the last quarter. GSA Capital Partners LLP grew its position in shares of Cognyte Software by 7.3% in the first quarter. GSA Capital Partners LLP now owns 28,607 shares of the medical device company’s stock valued at $324,000 after purchasing an additional 1,946 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Cognyte Software by 19.6% in the first quarter. JPMorgan Chase & Co. now owns 369,566 shares of the medical device company’s stock valued at $4,180,000 after purchasing an additional 60,625 shares during the last quarter. Finally, Raymond James & Associates acquired a new position in shares of Cognyte Software in the first quarter valued at approximately $347,000. Institutional investors and hedge funds own 84.93% of the company’s stock.
Cognyte Software Company Profile
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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 also offers network intelligence analytics, open source and threat intelligence analytics, and operational intelligence analytics solutions.
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