Atom Investors LP Has $709,000 Stock Holdings in Cognyte Software Ltd. (NASDAQ:CGNT)

Atom Investors LP lifted its holdings in shares of Cognyte Software Ltd. (NASDAQ:CGNT) by 100.3% in the third quarter, Holdings Channel.com reports. The institutional investor owned 104,470 shares of the medical device company’s stock after acquiring an additional 52,310 shares during the period. Atom Investors LP’s holdings in Cognyte Software were worth $709,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Scalar Gauge Management LLC raised 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 buying an additional 100,000 shares in the last quarter. State of New Jersey Common Pension Fund D raised its holdings in shares of Cognyte Software by 34.4% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 23,186 shares of the medical device company’s stock worth $157,000 after buying an additional 5,940 shares in the last quarter. Edenbrook Capital LLC raised its holdings in shares of Cognyte Software by 3.4% during the 3rd quarter. Edenbrook Capital LLC now owns 6,283,226 shares of the medical device company’s stock worth $42,663,000 after buying an additional 207,675 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new position in shares of Cognyte Software during the 2nd quarter worth $586,000. Finally, Tidal Investments LLC acquired a new position in shares of Cognyte Software during the 1st quarter worth $515,000. Institutional investors and hedge funds own 72.92% of the company’s stock.

Cognyte Software Price Performance

Shares of Cognyte Software stock opened at $8.51 on Wednesday. The stock’s 50-day moving average is $7.00 and its 200 day moving average is $7.30. Cognyte Software Ltd. has a one year low of $5.12 and a one year high of $8.70. The firm has a market cap of $611.82 million, a price-to-earnings ratio of -121.57 and a beta of 1.81.

Cognyte Software (NASDAQ:CGNT) last posted its quarterly earnings results on Tuesday, September 10th. The medical device company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.07. Cognyte Software had a negative return on equity of 2.56% and a negative net margin of 1.35%. The business had revenue of $84.40 million for the quarter, compared to the consensus estimate of $83.69 million. During the same period in the prior year, the business earned ($0.11) EPS. The firm’s revenue for the quarter was up 9.5% on a year-over-year basis. On average, sell-side analysts expect that Cognyte Software Ltd. will post -0.28 EPS for the current fiscal year.

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Needham & Company LLC reissued a “hold” rating on shares of Cognyte Software in a report on Tuesday, September 10th. StockNews.com lowered Cognyte Software from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 22nd.

Insider Transactions at Cognyte Software

In other Cognyte Software news, major shareholder Topline Capital Partners, Lp purchased 553,591 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The stock was bought 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 of the company’s stock, valued at $54,292,148.64. The trade was a 6.88 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Topline Capital Management, Ll purchased 416,040 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were acquired at an average cost of $6.30 per share, with a total value of $2,621,052.00. Following the completion of the transaction, the insider now directly owns 9,020,184 shares of the company’s stock, valued at $56,827,159.20. The trade was a 4.84 % increase in their position. The disclosure for this purchase can be found here.

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.