Cognyte Software Ltd. (NASDAQ:CGNT) Major Shareholder Topline Capital Partners, Lp Acquires 553,591 Shares

Cognyte Software Ltd. (NASDAQ:CGNT) major shareholder Topline Capital Partners, Lp bought 553,591 shares of the stock in a transaction on Wednesday, September 11th. The shares were acquired at an average cost of $6.31 per share, for a total transaction of $3,493,159.21. Following the purchase, the insider now owns 8,604,144 shares in the company, valued at $54,292,148.64. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Cognyte Software Trading Up 0.2 %

CGNT traded up $0.01 on Thursday, hitting $6.31. The company had a trading volume of 498,717 shares, compared to its average volume of 325,976. The firm has a market cap of $448.16 million, a P/E ratio of -37.12 and a beta of 1.74. Cognyte Software Ltd. has a 1 year low of $4.00 and a 1 year high of $8.70. The company’s fifty day moving average price is $7.40 and its 200 day moving average price is $7.49.

Cognyte Software (NASDAQ:CGNT) last issued its quarterly earnings data on Tuesday, September 10th. The medical device company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.07. The firm 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 3.70% and a negative return on equity of 5.94%. Cognyte Software’s revenue was up 9.5% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.11) EPS. On average, analysts predict that Cognyte Software Ltd. will post -0.31 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Cognyte Software in a research note on Tuesday. Wedbush boosted their price target on shares of Cognyte Software from $8.00 to $9.00 and gave the company a “neutral” rating in a research report on Thursday, June 20th. Finally, StockNews.com cut shares of Cognyte Software from a “strong-buy” rating to a “buy” rating in a research report on Wednesday.

Hedge Funds Weigh In On Cognyte Software

Institutional investors and hedge funds have recently made changes to their positions in the stock. Signaturefd LLC grew its position in shares of Cognyte Software by 91.4% during the second quarter. Signaturefd LLC now owns 3,311 shares of the medical device company’s stock worth $25,000 after buying an additional 1,581 shares in the last quarter. nVerses Capital LLC acquired a new position in shares of Cognyte Software during the second quarter worth about $28,000. DT Investment Partners LLC acquired a new position in shares of Cognyte Software during the second quarter worth about $62,000. Covestor Ltd acquired a new position in Cognyte Software in the first quarter valued at approximately $73,000. Finally, Magnetar Financial LLC acquired a new position in Cognyte Software in the second quarter valued at approximately $117,000. 72.92% of the stock is owned by institutional investors and hedge funds.

Cognyte Software Company 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.