According to Bloomberg.com, the six rating agencies monitoring Cognyte Software Ltd. (NASDAQ: CGNT) have collectively provided the company with a recommendation of “Hold” as their recommended course of action. This recommendation was given to the company as their recommended course of action. The stock has been recommended to sell by one of the equities research experts, recommendation to hold by four other analysts, and a recommendation to buy by two of the equity research analysts. According to the projections of research analysts who have updated their stock coverage during the past year, the share price is expected to reach $11.33 within the next twelve months. CGT has, in recent times, drawn the attention and commentary of a few different brokerages. On June 28, William Blair lowered the “outperform” rating they had previously given to the stock of Cognyte Software and replaced it with a “market perform” rating.
StockNews.com shifted its recommendation on shares of Cognyte Software from a “hold” rating to a “sell” rating in a research note issued on Tuesday, September 6. The note was on the web site’s website. During the past few months, several hedge funds and other institutional investors have increased their interests in the company, while others have decreased the amount of ownership they currently own. Signaturefd LLC improved its holding in Cognyte Software by 17.4% over the year’s first three months. After making an additional 1,791 share purchases during the relevant period, Signaturefd LLC is now the owner of 12,062 shares of the medical device company’s stock. These shares have a total value of $136,000, making the company’s investment in these shares worth a total of $136,000. During the first three months of the fiscal year, GSA Capital Partners LLP saw a 7.3% increase in the value of its interests in Cognyte Software. As a result of the purchase of an additional 1,946 shares during the relevant period, GSA Capital Partners LLP now controls a total of 28,607 shares of stock in the medical device company.
The current value of these shares is $324,000. Handelsbanken Fonder AB acquired an additional 16,3 percent of shares in Cognyte Software throughout the second quarter. As a result of the purchase of an additional 2,200 shares during the relevant period, Handelsbanken Fonder AB currently owns a total of 15,700 shares of stock in the medical device company, which has a value of $67,000. These shares were acquired during the relevant period. During the first three months of the fiscal year, Envestnet Asset Management Inc. increased the percentage of Cognyte Software shares it owned by 29.7%. Envestnet Asset Management Inc. has boosted its holdings in the stock of the medical device firm by 3,000 shares, bringing its total number of shares to 13,112, which have a value of $148,000. This brings the total value of Envestnet Asset Management Inc.’s holdings to $148,000. Quantbot Technologies LP made one final investment during the first three months of 2018, purchasing an additional holding in Cognyte Software shares valued at approximately $45,000 each.
Most of the company’s stock, which accounts for 88.90% of the total, is held by investors affiliated with institutions such as hedge funds and pension funds. On Monday, NASDAQ: CGNT began trading at $5.15. The firm’s market capitalization is currently at $347.53 million, its price-to-earnings ratio is at -8.44, and its beta stands at 1.88. During the previous 52 weeks, the cost of Cognyte Software has fluctuated between $3.91 and $28.55 at various points. The price as of right now is $3.91. Over the previous 50 days, the price of the stock’s simple moving average has been $4.71; over the past 200 days, it has been $6.98. On Tuesday, June 28, the most recent release of quarterly earnings statistics for Cognyte Software (NASDAQ: CGNT) was made public. These numbers were released for the company’s fiscal year ending in the previous quarter. Earnings per share (EPS) announced by the medical equipment manufacturer came in at a loss of $0.85 for the quarter, which was $0.81 below the average projection of $0.04 per share.
The sales for the company for the quarter came in at $86.40 million, which is much lower than the estimates of $112.60 million provided by industry experts. The company’s return on equity was also negative, coming in at 23.12%, while the company’s negative net margin was 9.17%. The quarterly sales of the company experienced a decrease of 24.7% as compared to the same quarter in the previous fiscal year’s financial year. The company reported earnings per share of $0.07 for the same period in the previous year’s financial statements. According to projections offered by experts that watch the stock market, earnings for the current year for Cognyte Software are expected to come in at -1.08 dollars per share.
The software for investigative analytics that Cognyte Software Ltd. developed is readily available for governments and businesses in every part of the world. The company’s free software, Actionable Intelligence for a Safer World, was designed to aid businesses and governments in improving both the speed at which investigations are carried out and the efficiency of such investigations. This software is called Actionable Intelligence for a Safer World. In addition, the firm provides solutions for operational intelligence analytics, open source, threat intelligence, and network intelligence analytics, each in its own right.