Cognyte Software (NASDAQ:CGNT) Sees Strong Trading Volume

Cognyte Software Ltd. (NASDAQ:CGNT) saw unusually-high trading volume on Thursday . Approximately 77,599 shares were traded during mid-day trading, a decline of 91% from the previous session’s volume of 846,939 shares.The stock last traded at $22.61 and had previously closed at $22.58.

A number of research firms recently issued reports on CGNT. Wedbush decreased their price objective on Cognyte Software from $40.00 to $32.00 and set an “in-line” rating on the stock in a research note on Tuesday, September 21st. William Blair assumed coverage on Cognyte Software in a report on Monday, July 26th. They issued an “outperform” rating and a $24.33 price objective for the company. Needham & Company LLC assumed coverage on Cognyte Software in a report on Thursday, July 15th. They set a “buy” rating and a $36.00 target price for the company. Finally, Zacks Investment Research cut Cognyte Software from a “buy” rating to a “hold” rating in a report on Monday, September 27th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $33.22.

The stock has a market cap of $1.50 billion and a P/E ratio of 21.92. The firm has a 50-day moving average price of $25.24 and a 200-day moving average price of $24.99.

Cognyte Software (NASDAQ:CGNT) last posted its quarterly earnings data on Monday, September 20th. The medical device company reported $0.17 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.01. The company had revenue of $116.00 million for the quarter, compared to the consensus estimate of $115.55 million. The firm’s revenue was down .3% on a year-over-year basis. On average, equities research analysts forecast that Cognyte Software Ltd. will post 0.08 EPS for the current year.

A number of hedge funds have recently bought and sold shares of the stock. William Blair Investment Management LLC purchased a new stake in Cognyte Software during the 2nd quarter valued at $49,000. Royal Bank of Canada purchased a new stake in Cognyte Software during the 2nd quarter valued at $84,000. Federated Hermes Inc. purchased a new stake in Cognyte Software during the 2nd quarter valued at $89,000. Panagora Asset Management Inc. purchased a new stake in Cognyte Software during the 2nd quarter valued at $109,000. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in Cognyte Software during the 2nd quarter valued at $234,000. 87.78% of the stock is owned by institutional investors.

About Cognyte Software (NASDAQ:CGNT)

Cognyte Software Ltd. provides security analytics software to governments and enterprises worldwide. The company's open software fuses, analyzes, and visualizes disparate data sets for security organizations. It offers investigative analytics, operational intelligence analytics, and threat intelligence analytics solutions.

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