Renaissance Technologies LLC Decreases Position in Cognyte Software Ltd. (NASDAQ:CGNT)

Renaissance Technologies LLC trimmed its position in shares of Cognyte Software Ltd. (NASDAQ:CGNT) by 20.1% during the second quarter, Holdings Channel reports. The firm owned 555,400 shares of the medical device company’s stock after selling 139,311 shares during the quarter. Renaissance Technologies LLC’s holdings in Cognyte Software were worth $4,243,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of CGNT. Signaturefd LLC boosted its position in Cognyte Software by 91.4% during the second 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 in the last quarter. nVerses Capital LLC purchased a new stake in Cognyte Software during the second quarter worth $28,000. DT Investment Partners LLC purchased a new stake in Cognyte Software during the second quarter worth $62,000. Covestor Ltd acquired a new position in shares of Cognyte Software in the first quarter worth $73,000. Finally, Quadrature Capital Ltd acquired a new position in shares of Cognyte Software in the fourth quarter worth $144,000. 72.92% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Cognyte Software

In other Cognyte Software news, major shareholder Topline Capital Partners, Lp bought 553,591 shares of the company’s 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 purchase, the insider now owns 8,604,144 shares of the company’s stock, valued at approximately $54,292,148.64. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. In other news, major shareholder Topline Capital Partners, Lp purchased 553,591 shares of the stock in a transaction on Wednesday, September 11th. The stock was purchased at an average price of $6.31 per share, with a total value of $3,493,159.21. Following the completion of the transaction, the insider now owns 8,604,144 shares in the company, valued at $54,292,148.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Topline Capital Management, Ll purchased 416,040 shares of the stock in a transaction on Thursday, September 12th. The shares were purchased at an average cost of $6.30 per share, with a total value of $2,621,052.00. Following the transaction, the insider now owns 9,020,184 shares of the company’s stock, valued at approximately $56,827,159.20. The disclosure for this purchase can be found here. Insiders own 62.70% of the company’s stock.

Cognyte Software Stock Down 2.4 %

NASDAQ CGNT opened at $6.79 on Friday. The stock has a market cap of $482.25 million, a price-to-earnings ratio of -39.94 and a beta of 1.74. The business has a fifty day moving average of $7.21 and a 200-day moving average of $7.44. Cognyte Software Ltd. has a fifty-two week low of $4.00 and a fifty-two week high of $8.70.

Cognyte Software (NASDAQ:CGNT) last released its earnings results on Tuesday, September 10th. The medical device company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.07. The firm had revenue of $84.40 million during the quarter, compared to analyst estimates 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 quarterly revenue was up 9.5% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.11) earnings per share. As a group, analysts anticipate that Cognyte Software Ltd. will post -0.31 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on CGNT shares. StockNews.com raised Cognyte Software from a “buy” rating to a “strong-buy” rating in a report on Thursday, September 19th. Wedbush boosted their price target on Cognyte Software from $8.00 to $9.00 and gave the stock a “neutral” rating in a report on Thursday, June 20th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Cognyte Software in a report on Tuesday, September 10th.

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.