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 acquired 553,591 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The shares were purchased at an average cost of $6.31 per share, with a total value of $3,493,159.21. Following the completion of the transaction, the insider now owns 8,604,144 shares in the company, valued at approximately $54,292,148.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Cognyte Software Stock Performance

Shares of Cognyte Software stock opened at $6.31 on Friday. The company has a fifty day simple moving average of $7.40 and a 200-day simple moving average of $7.49. Cognyte Software Ltd. has a 12-month low of $4.00 and a 12-month high of $8.70.

Cognyte Software (NASDAQ:CGNT) last released 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. Cognyte Software had a negative net margin of 1.35% and a negative return on equity of 2.56%. The company had revenue of $84.40 million during the quarter, compared to the consensus estimate of $83.69 million. During the same quarter in the prior year, the firm posted ($0.11) earnings per share. Cognyte Software’s revenue for the quarter was up 9.5% on a year-over-year basis. Equities research analysts forecast that Cognyte Software Ltd. will post -0.31 earnings per share for the current year.

Analyst Upgrades and Downgrades

CGNT has been the topic of a number of analyst reports. StockNews.com cut Cognyte Software from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. Wedbush increased their price objective on Cognyte Software from $8.00 to $9.00 and gave the company a “neutral” rating in a report on Thursday, June 20th. Finally, Needham & Company LLC restated a “hold” rating on shares of Cognyte Software in a research note on Tuesday.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Signaturefd LLC boosted its holdings in shares of 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 acquiring an additional 1,581 shares during the period. nVerses Capital LLC purchased a new stake in 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. Covestor Ltd acquired a new stake in Cognyte Software during the 1st quarter worth $73,000. Finally, Magnetar Financial LLC purchased a new position in Cognyte Software during the 2nd quarter worth $117,000. Hedge funds and other 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.