Mackenzie Financial Corp Sells 2,311 Shares of Cognyte Software Ltd. (NASDAQ:CGNT)

Mackenzie Financial Corp trimmed its holdings in Cognyte Software Ltd. (NASDAQ:CGNT) by 9.9% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,981 shares of the medical device company’s stock after selling 2,311 shares during the period. Mackenzie Financial Corp’s holdings in Cognyte Software were worth $160,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Signaturefd LLC grew its holdings in Cognyte Software by 91.4% during 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 during the last quarter. nVerses Capital LLC acquired a new stake in Cognyte Software in the 2nd quarter valued at approximately $28,000. DT Investment Partners LLC bought a new position in Cognyte Software in the 2nd quarter worth approximately $62,000. Covestor Ltd acquired a new position in shares of Cognyte Software during the first quarter worth approximately $73,000. Finally, Magnetar Financial LLC bought a new stake in shares of Cognyte Software in the second quarter valued at approximately $117,000. Institutional investors and hedge funds own 72.92% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Wedbush boosted their price objective on shares of Cognyte Software from $8.00 to $9.00 and gave the stock a “neutral” rating in a report on Thursday, June 20th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cognyte Software in a report on Tuesday, September 10th. Finally, StockNews.com cut Cognyte Software from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 1st.

Insiders Place Their Bets

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

Cognyte Software Price Performance

Cognyte Software stock opened at $6.58 on Tuesday. The firm has a market capitalization of $467.33 million, a P/E ratio of -38.71 and a beta of 1.73. The stock has a fifty day moving average price of $7.12 and a two-hundred day moving average price of $7.40. Cognyte Software Ltd. has a 52-week low of $4.00 and a 52-week high of $8.70.

Cognyte Software (NASDAQ:CGNT) last released its quarterly earnings results on Tuesday, September 10th. The medical device company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates 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 return on equity of 2.56% and a negative net margin of 1.35%. The business’s revenue was up 9.5% on a year-over-year basis. During the same period last year, the firm posted ($0.11) EPS. On average, equities research analysts predict that Cognyte Software Ltd. will post -0.31 EPS for the current fiscal year.

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.