Magnetar Financial LLC Buys New Position in Cognyte Software Ltd. (NASDAQ:CGNT)

Magnetar Financial LLC purchased a new position in Cognyte Software Ltd. (NASDAQ:CGNT) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 15,270 shares of the medical device company’s stock, valued at approximately $117,000.

Several other large investors also recently bought and sold shares of the company. Signaturefd LLC lifted 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 purchasing an additional 1,581 shares in the last quarter. Legacy Advisors LLC increased its stake in Cognyte Software by 1.4% during the 2nd quarter. Legacy Advisors LLC now owns 143,790 shares of the medical device company’s stock worth $1,099,000 after buying an additional 2,041 shares during the period. nVerses Capital LLC acquired a new position in Cognyte Software in the 2nd quarter worth $28,000. Essex Investment Management Co. LLC boosted its position in Cognyte Software by 1.6% in the 1st quarter. Essex Investment Management Co. LLC now owns 339,452 shares of the medical device company’s stock valued at $2,807,000 after buying an additional 5,244 shares during the last quarter. Finally, Silverberg Bernstein Capital Management LLC grew its stake in shares of Cognyte Software by 7.7% during the second quarter. Silverberg Bernstein Capital Management LLC now owns 98,300 shares of the medical device company’s stock valued at $751,000 after acquiring an additional 7,000 shares in the last quarter. Institutional investors and hedge funds own 72.92% of the company’s stock.

Cognyte Software Stock Performance

Shares of CGNT stock opened at $6.96 on Friday. The stock has a market capitalization of $494.32 million, a price-to-earnings ratio of -40.94 and a beta of 1.74. Cognyte Software Ltd. has a one year low of $4.00 and a one year high of $8.70. The company’s 50-day simple moving average is $7.22 and its 200-day simple moving average is $7.44.

Cognyte Software (NASDAQ:CGNT) last announced 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 analysts’ expectations of $83.69 million. Cognyte Software had a negative return on equity of 2.56% and a negative net margin of 1.35%. Cognyte Software’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.11) earnings per share. As a group, research analysts forecast that Cognyte Software Ltd. will post -0.31 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on CGNT shares. Wedbush boosted their price target on Cognyte Software from $8.00 to $9.00 and gave the stock a “neutral” rating in a research note on Thursday, June 20th. StockNews.com raised Cognyte Software from a “buy” rating to a “strong-buy” rating in a research report on Thursday, September 19th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Cognyte Software in a research report on Tuesday, September 10th.

Insider Buying and Selling

In other Cognyte Software news, insider Topline Capital Management, Ll bought 416,040 shares of the stock in a transaction 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 in the company, valued at $56,827,159.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Topline Capital Management, Ll bought 416,040 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was bought at an average cost 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 in the company, valued at approximately $56,827,159.20. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Topline Capital Partners, Lp bought 553,591 shares of the stock in a transaction dated Wednesday, September 11th. The shares were bought at an average cost of $6.31 per share, with a total value of $3,493,159.21. Following the completion of the acquisition, the insider now directly owns 8,604,144 shares of the company’s stock, valued at approximately $54,292,148.64. The disclosure for this purchase can be found here. 62.70% of the stock is currently owned by company insiders.

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.