Cognyte Software (NASDAQ:CGNT) Trading Up 7.5% – Should You Buy?

Cognyte Software Ltd. (NASDAQ:CGNT) shares 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 changed hands during mid-day 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

A number of equities analysts have commented on CGNT shares. StockNews.com raised Cognyte Software from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 23rd. Needham & Company LLC reissued a “hold” rating on shares of Cognyte Software in a report on Tuesday, September 10th.

Cognyte Software Stock Performance

The firm has a market cap of $537.74 million, a price-to-earnings ratio of -109.13 and a beta of 1.72. The firm’s 50 day moving average is $6.78 and its 200-day moving average is $7.27.

Cognyte Software (NASDAQ:CGNT) last issued its quarterly earnings data 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. Cognyte Software had a negative net margin of 1.35% and a negative return on equity of 2.56%. The company had revenue of $84.40 million during the quarter, compared to the consensus estimate of $83.69 million. During the same quarter in the prior year, the firm earned ($0.11) earnings per share. The firm’s revenue was up 9.5% compared to the same quarter last year. As a group, research analysts predict that Cognyte Software Ltd. will post -0.28 EPS for the current year.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Cognyte Software

Hedge funds have recently modified their holdings of the business. Signaturefd LLC raised its position in 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. nVerses Capital LLC acquired a new position in Cognyte Software during the second quarter worth about $28,000. DT Investment Partners LLC purchased a new stake in shares of Cognyte Software in the 2nd quarter valued at approximately $62,000. Covestor Ltd acquired a new position in shares of Cognyte Software in the 1st quarter worth approximately $73,000. Finally, Magnetar Financial LLC acquired a new stake in shares of Cognyte Software in the 2nd quarter valued at $117,000. Institutional investors own 72.92% of the company’s stock.

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.