Edenbrook Capital LLC Raises Position in Cognyte Software Ltd. (NASDAQ:CGNT)

Edenbrook Capital LLC boosted its position in Cognyte Software Ltd. (NASDAQ:CGNT - Free Report) by 3.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,283,226 shares of the medical device company's stock after buying an additional 207,675 shares during the quarter. Cognyte Software makes up about 18.1% of Edenbrook Capital LLC's investment portfolio, making the stock its 2nd biggest holding. Edenbrook Capital LLC owned approximately 8.74% of Cognyte Software worth $42,663,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Acadian Asset Management LLC lifted its position in shares of Cognyte Software by 13.3% in the 2nd quarter. Acadian Asset Management LLC now owns 2,611,449 shares of the medical device company's stock worth $19,928,000 after buying an additional 306,479 shares during the last quarter. Scalar Gauge Management LLC lifted its holdings 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 worth $3,247,000 after acquiring an additional 100,000 shares during the last quarter. Legacy Advisors LLC boosted its stake in Cognyte Software by 1.4% in the second quarter. Legacy Advisors LLC now owns 143,790 shares of the medical device company's stock valued at $1,099,000 after acquiring an additional 2,041 shares during the period. 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 valued at $681,000 after purchasing an additional 2,000 shares during the last quarter. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new position in shares of Cognyte Software during the second quarter valued at approximately $586,000. Institutional investors and hedge funds own 72.92% of the company's stock.

Analysts Set New Price Targets

Several analysts recently issued reports on CGNT shares. Needham & Company LLC reissued a "hold" rating on shares of Cognyte Software in a report on Tuesday, September 10th. StockNews.com downgraded shares of Cognyte Software from a "strong-buy" rating to a "buy" rating in a report on Friday, November 22nd.

Insider Buying and Selling

In related news, major shareholder Topline Capital Partners, Lp acquired 553,591 shares of the 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 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 6.88 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Topline Capital Management, Ll bought 416,040 shares of the business's stock in a transaction on Thursday, September 12th. The stock was purchased at an average price 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.

Cognyte Software Stock Down 0.3 %

CGNT opened at $7.93 on Wednesday. The business's 50 day moving average is $6.87 and its 200-day moving average is $7.28. Cognyte Software Ltd. has a twelve month low of $4.47 and a twelve month high of $8.70.

Cognyte Software (NASDAQ:CGNT - Get Free Report) last announced its earnings results on Tuesday, September 10th. The medical device company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.07. Cognyte Software had a negative return on equity of 2.56% and a negative net margin of 1.35%. The firm had revenue of $84.40 million for the quarter, compared to the consensus estimate of $83.69 million. During the same quarter in the previous year, the business earned ($0.11) EPS. The firm's revenue for the quarter was up 9.5% on a year-over-year basis. As a group, equities research analysts forecast that Cognyte Software Ltd. will post -0.28 earnings per share for the current year.

Cognyte Software declared that its Board of Directors has authorized a stock buyback plan on Tuesday, November 12th that permits the company to buyback $20.00 million in shares. This buyback authorization permits the medical device company to reacquire up to 3.7% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's leadership believes its stock is undervalued.

Cognyte Software 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.

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