Topline Capital Partners, Lp Buys 553,591 Shares of Cognyte Software Ltd. (NASDAQ:CGNT) Stock

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

Cognyte Software Trading Up 10.0 %

Cognyte Software stock opened at $6.94 on Friday. The company has a market capitalization of $498.92 million, a P/E ratio of -40.82 and a beta of 1.74. The firm’s fifty day simple moving average is $7.39 and its 200-day simple moving average is $7.49. Cognyte Software Ltd. has a 1-year low of $4.00 and a 1-year high of $8.70.

Cognyte Software (NASDAQ:CGNT) last released its quarterly earnings results on Tuesday, September 10th. The medical device company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.07. The business had revenue of $84.40 million for the quarter, compared to the consensus estimate of $83.69 million. Cognyte Software had a negative net margin of 1.35% and a negative return on equity of 2.56%. Cognyte Software’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter last year, the firm earned ($0.11) EPS. On average, equities research analysts predict that Cognyte Software Ltd. will post -0.31 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CGNT. New York State Common Retirement Fund raised its holdings in Cognyte Software by 108.5% in the 4th quarter. New York State Common Retirement Fund now owns 93,978 shares of the medical device company’s stock worth $604,000 after acquiring an additional 48,913 shares during the period. Russell Investments Group Ltd. raised its holdings in Cognyte Software by 8,624.3% in the 4th quarter. Russell Investments Group Ltd. now owns 20,066 shares of the medical device company’s stock worth $129,000 after acquiring an additional 19,836 shares during the period. Jump Financial LLC raised its holdings in Cognyte Software by 52.9% in the 4th quarter. Jump Financial LLC now owns 50,200 shares of the medical device company’s stock worth $323,000 after acquiring an additional 17,363 shares during the period. Hillsdale Investment Management Inc. raised its holdings in Cognyte Software by 32.8% in the 4th quarter. Hillsdale Investment Management Inc. now owns 28,339 shares of the medical device company’s stock worth $182,000 after acquiring an additional 7,000 shares during the period. Finally, Trexquant Investment LP raised its holdings in Cognyte Software by 43.0% in the 4th quarter. Trexquant Investment LP now owns 153,184 shares of the medical device company’s stock worth $985,000 after acquiring an additional 46,073 shares during the period. Institutional investors own 72.92% of the company’s stock.

About Cognyte Software

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.