Senvest Management LLC Trims Position in Cognyte Software Ltd. (NASDAQ:CGNT)

Senvest Management LLC decreased its position in shares of Cognyte Software Ltd. (NASDAQ:CGNT) by 59.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,459,825 shares of the medical device company’s stock after selling 2,122,928 shares during the quarter. Senvest Management LLC owned approximately 2.03% of Cognyte Software worth $9,912,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Acadian Asset Management LLC raised its position in shares of Cognyte Software by 13.3% during the 2nd quarter. Acadian Asset Management LLC now owns 2,611,449 shares of the medical device company’s stock valued at $19,928,000 after buying an additional 306,479 shares during the period. Scalar Gauge Management LLC grew its holdings in shares of Cognyte Software by 30.8% during the 2nd quarter. Scalar Gauge Management LLC now owns 425,032 shares of the medical device company’s stock worth $3,247,000 after purchasing an additional 100,000 shares during the period. Legacy Advisors LLC raised its holdings in Cognyte Software by 1.4% in the 2nd quarter. Legacy Advisors LLC now owns 143,790 shares of the medical device company’s stock valued at $1,099,000 after buying an additional 2,041 shares during the period. Sei Investments Co. lifted its position in Cognyte Software by 25.6% in the first quarter. Sei Investments Co. now owns 129,122 shares of the medical device company’s stock valued at $1,068,000 after buying an additional 26,341 shares during the last quarter. Finally, Silverberg Bernstein Capital Management LLC lifted its position in Cognyte Software by 2.0% in the third quarter. Silverberg Bernstein Capital Management LLC now owns 100,300 shares of the medical device company’s stock valued at $681,000 after buying an additional 2,000 shares during the last quarter. 72.92% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Cognyte Software

In other news, major shareholder Topline Capital Partners, Lp acquired 553,591 shares of Cognyte Software stock in a transaction dated 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 acquisition, the insider now 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 ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Topline Capital Management, Ll bought 416,040 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were purchased at an average price of $6.30 per share, with a total value of $2,621,052.00. Following the purchase, the insider now owns 9,020,184 shares of the company’s stock, valued at approximately $56,827,159.20. This represents a 4.84 % increase in their position. The disclosure for this purchase can be found here. 62.70% of the stock is owned by corporate insiders.

Cognyte Software Stock Down 3.8 %

Shares of CGNT opened at $7.82 on Friday. Cognyte Software Ltd. has a fifty-two week low of $4.41 and a fifty-two week high of $8.70. The company has a market cap of $562.18 million, a P/E ratio of -111.70 and a beta of 1.72. The firm’s 50 day moving average price is $6.84 and its 200 day moving average price is $7.28.

Cognyte Software (NASDAQ:CGNT) last posted its quarterly earnings results on Tuesday, September 10th. The medical device company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.07. The business had revenue of $84.40 million during 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%. The company’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.11) earnings per share. Research analysts forecast that Cognyte Software Ltd. will post -0.28 earnings per share for the current year.

Cognyte Software declared that its Board of Directors has approved a stock buyback plan on Tuesday, November 12th that authorizes the company to repurchase $20.00 million in outstanding shares. This repurchase authorization authorizes the medical device company to repurchase up to 3.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on CGNT shares. Needham & Company LLC restated a “hold” rating on shares of Cognyte Software in a report on Tuesday, September 10th. StockNews.com cut Cognyte Software from a “strong-buy” rating to a “buy” rating in a research note on Friday.

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.