Scalar Gauge Management LLC Has $2.99 Million Position in Cognyte Software Ltd. (NASDAQ:CGNT)

Scalar Gauge Management LLC boosted its position in shares of Cognyte Software Ltd. (NASDAQ:CGNT) by 3.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 440,032 shares of the medical device company’s stock after buying an additional 15,000 shares during the quarter. Cognyte Software makes up approximately 1.6% of Scalar Gauge Management LLC’s holdings, making the stock its 18th largest holding. Scalar Gauge Management LLC owned about 0.61% of Cognyte Software worth $2,988,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Edenbrook Capital LLC lifted its stake in shares of Cognyte Software by 3.4% during the third quarter. Edenbrook Capital LLC now owns 6,283,226 shares of the medical device company’s stock valued at $42,663,000 after acquiring an additional 207,675 shares during the period. Acadian Asset Management LLC lifted its position in 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 purchasing an additional 306,479 shares during the period. Legacy Advisors LLC boosted its stake in shares of 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 purchasing an additional 2,041 shares during the last quarter. Silverberg Bernstein Capital Management LLC grew its position in shares of Cognyte Software by 2.0% during the 3rd quarter. Silverberg Bernstein Capital Management LLC now owns 100,300 shares of the medical device company’s stock worth $681,000 after buying an additional 2,000 shares during the period. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new stake in shares of Cognyte Software during the second quarter worth approximately $586,000. 72.92% of the stock is currently owned by institutional investors.

Insider Activity at Cognyte Software

In other news, major shareholder Topline Capital Partners, Lp purchased 553,591 shares of the company’s stock in a transaction on Wednesday, September 11th. The shares were purchased at an average price of $6.31 per share, with a total value of $3,493,159.21. Following the purchase, the insider now directly 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Topline Capital Management, Ll acquired 416,040 shares of Cognyte Software stock in a transaction dated Thursday, September 12th. The shares were purchased 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. This trade represents a 4.84 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 62.70% of the stock is owned by insiders.

Cognyte Software Price Performance

Shares of CGNT stock opened at $8.12 on Friday. The stock has a 50-day moving average of $6.94 and a 200-day moving average of $7.30. Cognyte Software Ltd. has a one year low of $5.00 and a one year high of $8.70. The stock has a market cap of $583.75 million, a PE ratio of -115.98 and a beta of 1.72.

Cognyte Software (NASDAQ:CGNT) last issued its earnings results on Tuesday, September 10th. The medical device company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.07. The firm 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 business’s quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.11) earnings per share. As a group, research analysts anticipate that Cognyte Software Ltd. will post -0.28 earnings per share for the current year.

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

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CGNT. Needham & Company LLC reaffirmed a “hold” rating on shares of Cognyte Software in a research note on Tuesday, September 10th. StockNews.com downgraded Cognyte Software from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 22nd.

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.