Senvest Management LLC Has $9.91 Million Stock Position in Cognyte Software Ltd. (NASDAQ:CGNT)

Senvest Management LLC decreased its position in Cognyte Software Ltd. (NASDAQ:CGNT - Free Report) by 59.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,459,825 shares of the medical device company's stock after selling 2,122,928 shares during the period. Senvest Management LLC owned approximately 2.03% of Cognyte Software worth $9,912,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of CGNT. Signaturefd LLC grew its position in shares of Cognyte Software by 91.4% in the second quarter. Signaturefd LLC now owns 3,311 shares of the medical device company's stock valued at $25,000 after purchasing an additional 1,581 shares in the last quarter. nVerses Capital LLC purchased a new position in shares of Cognyte Software during the second quarter worth about $28,000. DT Investment Partners LLC purchased a new position in shares of Cognyte Software during the second quarter worth about $62,000. Magnetar Financial LLC acquired a new stake in shares of Cognyte Software during the second quarter worth about $117,000. Finally, State of New Jersey Common Pension Fund D lifted its position in 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 valued at $157,000 after purchasing an additional 5,940 shares during the period. Hedge funds and other institutional investors own 72.92% of the company's stock.

Analyst Upgrades and Downgrades

CGNT has been the subject of a number of research reports. StockNews.com downgraded shares of Cognyte Software from a "strong-buy" rating to a "buy" rating in a research report on Friday. Needham & Company LLC reaffirmed a "hold" rating on shares of Cognyte Software in a research note on Tuesday, September 10th.

Cognyte Software Stock Performance

Shares of Cognyte Software stock traded down $0.31 during trading on Friday, reaching $7.82. The company had a trading volume of 240,184 shares, compared to its average volume of 256,439. The company has a market cap of $562.18 million, a price-to-earnings ratio of -111.70 and a beta of 1.72. The firm's fifty day moving average is $6.84 and its 200-day moving average is $7.28. Cognyte Software Ltd. has a fifty-two week low of $4.41 and a fifty-two week high of $8.70.

Cognyte Software (NASDAQ:CGNT - Get Free Report) last posted its earnings results on Tuesday, September 10th. The medical device company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.07. The firm had revenue of $84.40 million during the quarter, compared to analysts' expectations of $83.69 million. Cognyte Software had a negative net margin of 1.35% and a negative return on equity of 2.56%. Cognyte Software'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) EPS. On average, research analysts anticipate that Cognyte Software Ltd. will post -0.28 EPS for the current fiscal year.

Cognyte Software declared that its board has authorized a stock buyback plan on Tuesday, November 12th that authorizes the company to repurchase $20.00 million in outstanding shares. This repurchase authorization authorizes the medical device company to buy up to 3.7% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board believes its shares are undervalued.

Insider Transactions at Cognyte Software

In other Cognyte Software news, insider Topline Capital Management, Ll bought 416,040 shares of the business's stock in a transaction that occurred on Thursday, September 12th. The stock was acquired at an average cost of $6.30 per share, with a total value of $2,621,052.00. Following the completion of the purchase, the insider now directly owns 9,020,184 shares in the company, valued at approximately $56,827,159.20. This trade represents a 4.84 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through 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 shares were acquired at an average cost of $6.31 per share, with a total value of $3,493,159.21. Following the completion of the purchase, 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 ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 62.70% 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.