Cognyte Software Ltd. (NASDAQ:CGNT) Shares Acquired by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D boosted its position in shares of Cognyte Software Ltd. (NASDAQ:CGNTFree Report) by 34.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,186 shares of the medical device company’s stock after buying an additional 5,940 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Cognyte Software were worth $157,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in CGNT. Acadian Asset Management LLC increased its position in Cognyte Software by 13.3% during the second 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 period. Scalar Gauge Management LLC increased its position in Cognyte Software by 30.8% during the second quarter. Scalar Gauge Management LLC now owns 425,032 shares of the medical device company’s stock worth $3,247,000 after buying an additional 100,000 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new position in Cognyte Software during the second quarter worth approximately $586,000. Angeles Wealth Management LLC purchased a new position in shares of Cognyte Software in the 3rd quarter valued at approximately $437,000. Finally, Tidal Investments LLC purchased a new position in shares of Cognyte Software in the 1st quarter valued at approximately $515,000. Institutional investors and hedge funds own 72.92% of the company’s stock.

Insiders Place Their Bets

In other news, insider Topline Capital Management, Ll bought 416,040 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were bought at an average cost of $6.30 per share, for a total transaction of $2,621,052.00. Following the completion of the transaction, the insider now owns 9,020,184 shares in the company, valued at $56,827,159.20. This trade represents a 4.84 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Topline Capital Partners, Lp bought 553,591 shares of the firm’s stock in a transaction on Wednesday, September 11th. The shares were purchased at an average price of $6.31 per share, for a total transaction of $3,493,159.21. Following the completion of the transaction, the insider now owns 8,604,144 shares of the company’s stock, valued at $54,292,148.64. This represents a 6.88 % increase in their position. The disclosure for this purchase can be found here.

Analyst Ratings Changes

Several research analysts have weighed in on CGNT shares. Needham & Company LLC reiterated a “hold” rating on shares of Cognyte Software in a research note on Tuesday, September 10th. StockNews.com upgraded Cognyte Software from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 23rd.

Read Our Latest Stock Report on CGNT

Cognyte Software Price Performance

Cognyte Software stock opened at $6.98 on Wednesday. Cognyte Software Ltd. has a 1-year low of $4.28 and a 1-year high of $8.70. The company has a market cap of $501.79 million, a PE ratio of -99.70 and a beta of 1.72. The stock’s 50 day moving average price is $6.76 and its 200 day moving average price is $7.28.

Cognyte Software (NASDAQ:CGNTGet Free Report) last posted 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. 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 period in the previous year, the business earned ($0.11) earnings per share. The company’s revenue for the quarter was up 9.5% compared to the same quarter last year. On average, equities 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 share buyback program on Tuesday, November 12th that authorizes the company to repurchase $20.00 million in shares. This repurchase authorization authorizes the medical device company to repurchase up to 3.7% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Cognyte Software Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Cognyte Software (NASDAQ:CGNT)

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