Cognyte Software Ltd. (NASDAQ:CGNT) Shares Sold by Senvest Management LLC

Senvest Management LLC reduced its position in Cognyte Software Ltd. (NASDAQ:CGNT) by 59.3% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 1,459,825 shares of the medical device company’s stock after selling 2,122,928 shares during the period. Senvest Management LLC’s holdings in Cognyte Software were worth $9,912,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in CGNT. Signaturefd LLC lifted its stake in Cognyte Software by 91.4% in the second quarter. Signaturefd LLC now owns 3,311 shares of the medical device company’s stock valued at $25,000 after buying an additional 1,581 shares during the last quarter. nVerses Capital LLC acquired a new position in shares of Cognyte Software in the 2nd quarter valued at $28,000. DT Investment Partners LLC purchased a new stake in Cognyte Software in the 2nd quarter valued at $62,000. Magnetar Financial LLC acquired a new stake in Cognyte Software during the 2nd quarter worth $117,000. Finally, State of New Jersey Common Pension Fund D grew its position in Cognyte Software by 34.4% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 23,186 shares of the medical device company’s stock worth $157,000 after purchasing an additional 5,940 shares during the last quarter. 72.92% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Topline Capital Management, Ll acquired 416,040 shares of Cognyte Software stock in a transaction that occurred on Thursday, September 12th. The stock was purchased at an average price of $6.30 per share, for a total transaction of $2,621,052.00. Following the completion of the purchase, the insider now directly owns 9,020,184 shares of the company’s stock, valued at approximately $56,827,159.20. This trade represents a 4.84 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Topline Capital Partners, Lp bought 553,591 shares of the stock in a transaction on Wednesday, September 11th. The shares were bought at an average price of $6.31 per share, for a total transaction of $3,493,159.21. Following the completion of the transaction, the insider now directly owns 8,604,144 shares of the company’s stock, valued at $54,292,148.64. This trade represents a 6.88 % increase in their position. The disclosure for this purchase can be found here. 62.70% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Cognyte Software in a report on Tuesday, September 10th. StockNews.com downgraded Cognyte Software from a “strong-buy” rating to a “buy” rating in a research note on Friday.

Cognyte Software Stock Performance

Shares of CGNT opened at $7.82 on Friday. The stock has a market capitalization of $562.18 million, a P/E ratio of -111.70 and a beta of 1.72. Cognyte Software Ltd. has a 1 year low of $4.41 and a 1 year high of $8.70. The company’s fifty day moving average is $6.84 and its two-hundred day moving average is $7.28.

Cognyte Software (NASDAQ:CGNT) last issued its quarterly earnings results on Tuesday, September 10th. The medical device company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.07. The business had revenue of $84.40 million for the quarter, compared to analyst estimates of $83.69 million. Cognyte Software had a negative net margin of 1.35% and a negative return on equity of 2.56%. The business’s revenue was up 9.5% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.11) earnings per share. Sell-side analysts predict that Cognyte Software Ltd. will post -0.28 EPS for the current year.

Cognyte Software announced that its board has authorized a stock buyback plan on Tuesday, November 12th that permits the company to repurchase $20.00 million in outstanding shares. This repurchase authorization permits the medical device company to reacquire up to 3.7% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.

Cognyte Software Profile

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 offers network intelligence analytics, threat intelligence analytics, decision intelligence analytics, and operational intelligence analytics solutions.