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Technology Sector Update for 09/12/2017: VERI,INOV,COGT


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Technology stocks were edging higher this afternoon, with shares of tech companies in the S&P 500 climbing less than 0.2% in recent trading.

In company news, Veritone ( VERI ) sprang to a new, all-time high on Tuesday, topping out at a best-ever $28.50 a share after the artificial intelligence company announced a new partnership with privately held Wazee Digital, which will now offer Veritone's proprietary platform of cognitive engines and applications to its clients.

The new alliance is being touted as combining Wazee's Core digital asset management system with Veritone's automated metadata extraction and analysis tools, which include speech-to-text transcription, face recognition, translation and object recognition applications.

Financial terms of the partnership were not disclosed.

In other sector news,

(+) INOV, (+20.1%) Morgan Stanley raises investment rating to Equal Weight from Underweight and also increases its price target for the company's stock by $5 to $14 a share.

(-) COGT, (-6.9%) Chief operating officer Jordan Harry Baker Sept. 7 receives 50,000 restricted stock units while chief accounting officer Jinbo Wang receives 10,000 restricted stock units. Both grants vest in equal installments over the next three years.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Technology , Commodities
Referenced Symbols: VERI , INOV , COGT


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