Cognyte Software (NASDAQ:CGNT) Shares Up 7.5% – Time to Buy?

Shares of Cognyte Software Ltd. (NASDAQ:CGNT) were up 7.5% during trading on Tuesday . The company traded as high as $7.74 and last traded at $7.64. Approximately 98,649 shares traded hands during trading, a decline of 68% from the average daily volume of 310,413 shares. The stock had previously closed at $7.11.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. StockNews.com raised Cognyte Software from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 23rd. Needham & Company LLC reissued a “hold” rating on shares of Cognyte Software in a research note on Tuesday, September 10th.

Cognyte Software Trading Up 5.2 %

The stock has a market capitalization of $537.74 million, a P/E ratio of -109.13 and a beta of 1.72. The company has a 50-day moving average price of $6.78 and a two-hundred day moving average price of $7.27.

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

Insider Buying and Selling at Cognyte Software

In other Cognyte Software news, insider Topline Capital Management, Ll purchased 416,040 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were acquired at an average price of $6.30 per share, for a total transaction of $2,621,052.00. Following the purchase, the insider now directly owns 9,020,184 shares of the company’s stock, valued at $56,827,159.20. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Cognyte Software news, insider Topline Capital Management, Ll acquired 416,040 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were purchased at an average price of $6.30 per share, for a total transaction of $2,621,052.00. Following the completion of the purchase, the insider now directly owns 9,020,184 shares of the company’s stock, valued at $56,827,159.20. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Topline Capital Partners, Lp acquired 553,591 shares of the firm’s stock in a transaction on Wednesday, September 11th. The shares were bought at an average cost of $6.31 per share, for a total transaction of $3,493,159.21. Following the completion of the acquisition, the insider now owns 8,604,144 shares of the company’s stock, valued at approximately $54,292,148.64. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 62.70% of the company’s stock.

Hedge Funds Weigh In On Cognyte Software

A number of large investors have recently made changes to their positions in the stock. State of New Jersey Common Pension Fund D increased its stake in shares of Cognyte Software by 34.4% in the third 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 during the last quarter. Angeles Wealth Management LLC acquired a new position in shares of Cognyte Software in the third quarter valued at $437,000. Silverberg Bernstein Capital Management LLC grew its holdings in shares of Cognyte Software by 2.0% during the third quarter. Silverberg Bernstein Capital Management LLC now owns 100,300 shares of the medical device company’s stock worth $681,000 after purchasing an additional 2,000 shares during the last quarter. Scalar Gauge Management LLC lifted its stake in Cognyte Software by 30.8% in the second quarter. Scalar Gauge Management LLC now owns 425,032 shares of the medical device company’s stock valued at $3,247,000 after buying an additional 100,000 shares during the period. Finally, Magnetar Financial LLC acquired a new stake in Cognyte Software in the 2nd quarter valued at approximately $117,000. Hedge funds and other institutional investors own 72.92% of the company’s stock.

Cognyte Software Company 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.