Connor Clark & Lunn Investment Management Ltd. Sells 44,455 Shares of Cognyte Software Ltd. (NASDAQ:CGNT)

Connor Clark & Lunn Investment Management Ltd. lessened its position in Cognyte Software Ltd. (NASDAQ:CGNT) by 5.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 831,550 shares of the medical device company’s stock after selling 44,455 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Cognyte Software were worth $5,646,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Sei Investments Co. boosted its holdings in shares of Cognyte Software by 25.6% during the first quarter. Sei Investments Co. now owns 129,122 shares of the medical device company’s stock worth $1,068,000 after purchasing an additional 26,341 shares during the period. Quadrature Capital Ltd raised its position in Cognyte Software by 111.0% during the 1st quarter. Quadrature Capital Ltd now owns 47,174 shares of the medical device company’s stock valued at $391,000 after purchasing an additional 24,820 shares during the last quarter. Tidal Investments LLC purchased a new stake in Cognyte Software in the 1st quarter worth approximately $515,000. Silverberg Bernstein Capital Management LLC grew its position in shares of Cognyte Software by 7.7% in the 2nd quarter. Silverberg Bernstein Capital Management LLC now owns 98,300 shares of the medical device company’s stock worth $751,000 after buying an additional 7,000 shares during the last quarter. Finally, DT Investment Partners LLC purchased a new position in shares of Cognyte Software during the second quarter valued at approximately $62,000. Institutional investors own 72.92% of the company’s stock.

Analyst Ratings Changes

CGNT has been the subject of a number of research analyst reports. StockNews.com lowered Cognyte Software from a “strong-buy” rating to a “buy” rating in a research note on Friday. Needham & Company LLC reaffirmed a “hold” rating on shares of Cognyte Software in a research report on Tuesday, September 10th.

Cognyte Software Stock Performance

Shares of NASDAQ:CGNT opened at $7.82 on Friday. The firm has a market capitalization of $562.21 million, a P/E ratio of -111.71 and a beta of 1.72. The stock has a 50 day moving average price of $6.84 and a 200-day moving average price of $7.29. Cognyte Software Ltd. has a 52-week low of $4.41 and a 52-week high of $8.70.

Cognyte Software (NASDAQ:CGNT) last posted its quarterly earnings data on Tuesday, September 10th. The medical device company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 return on equity of 2.56% and a negative net margin of 1.35%. During the same quarter in the prior year, the company earned ($0.11) earnings per share. The firm’s quarterly revenue was up 9.5% compared to the same quarter last year. On average, equities analysts forecast 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 stock buyback plan on Tuesday, November 12th that permits the company to buyback $20.00 million in outstanding shares. This buyback authorization permits the medical device company to purchase up to 3.7% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In related news, insider Topline Capital Management, Ll bought 416,040 shares of the company’s stock in a transaction 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 acquisition, the insider now 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Topline Capital Partners, Lp purchased 553,591 shares of Cognyte Software stock in a transaction dated Wednesday, September 11th. The shares were bought at an average price 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. This represents a 6.88 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 62.70% of the stock is owned by company insiders.

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.