Cognyte Software Ltd. (NASDAQ:CGNT) Short Interest Update

Cognyte Software Ltd. (NASDAQ:CGNT) was the target of a significant decrease in short interest in November. As of November 15th, there was short interest totalling 583,700 shares, a decrease of 8.2% from the October 31st total of 635,500 shares. Based on an average trading volume of 271,400 shares, the short-interest ratio is currently 2.2 days. Currently, 1.0% of the company’s stock are short sold.

Cognyte Software Trading Up 1.4 %

NASDAQ CGNT traded up $0.11 on Monday, hitting $8.23. 293,278 shares of the company’s stock were exchanged, compared to its average volume of 307,440. The stock has a 50-day moving average of $6.97 and a 200-day moving average of $7.29. Cognyte Software has a 52 week low of $5.12 and a 52 week high of $8.70. The stock has a market cap of $591.65 million, a price-to-earnings ratio of -114.84 and a beta of 1.72.

Cognyte Software (NASDAQ:CGNT) last announced its quarterly earnings results on Tuesday, September 10th. The medical device company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.07. The company had revenue of $84.40 million during the quarter, compared to analysts’ expectations of $83.69 million. Cognyte Software had a negative return on equity of 2.56% and a negative net margin of 1.35%. Cognyte Software’s revenue was up 9.5% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.11) EPS. As a group, analysts predict that Cognyte Software will post -0.28 earnings per share for the current year.

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

Insider Buying and Selling

In related news, major shareholder Topline Capital Partners, Lp bought 553,591 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The shares were acquired at an average price 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. The trade was a 6.88 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Topline Capital Management, Ll purchased 416,040 shares of the stock in a transaction on Thursday, September 12th. The shares were acquired at an average cost of $6.30 per share, for a total transaction of $2,621,052.00. Following the transaction, the insider now owns 9,020,184 shares of the company’s stock, valued at approximately $56,827,159.20. The trade was 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 currently owned by corporate insiders.

Hedge Funds Weigh In On Cognyte Software

Several large investors have recently added to or reduced their stakes in CGNT. Signaturefd LLC raised its holdings in shares of Cognyte Software by 91.4% in the 2nd quarter. Signaturefd LLC now owns 3,311 shares of the medical device company’s stock worth $25,000 after purchasing an additional 1,581 shares during the period. Silverberg Bernstein Capital Management LLC raised its holdings in shares of Cognyte Software by 2.0% in the 3rd 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 period. Legacy Advisors LLC raised its holdings 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 worth $1,099,000 after purchasing an additional 2,041 shares during the period. Tidal Investments LLC raised its holdings in shares of Cognyte Software by 4.6% in the 3rd quarter. Tidal Investments LLC now owns 59,902 shares of the medical device company’s stock worth $407,000 after purchasing an additional 2,648 shares during the period. Finally, nVerses Capital LLC bought a new stake in shares of Cognyte Software in the 2nd quarter worth approximately $28,000. Institutional investors own 72.92% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on CGNT. StockNews.com downgraded Cognyte Software from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 22nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Cognyte Software in a research report on Tuesday, September 10th.

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.