Cognyte Software (CGNT, Financial) develops and sells software used to manage data associated with physicaland cyber security threats. Shares fell late in the quarter despite reporting October quarter results that exceeded guidance and consensus estimates. Cognyte lowered forward expectations due to expected delays in implementing its software at customers because of the recent uptick in COVID cases. With its growth trailing peers, the recent and expected slowdown in sales makes its intermediate-term targets look more di cult to achieve. While the stock looks cheap even on the reduced expectations, investors seem to be concerned about potential disappointments to come.
From Keeley-Teton Advisors, LLC (Trades, Portfolio)'s Small-Mid Cap Value Fund fourth-quarter 2021 commentary.
