Cognyte Software Ltd. (NASDAQ:CGNT) Sees Large Increase in Short Interest

Cognyte Software Ltd. (NASDAQ:CGNT) was the recipient of a large growth in short interest during the month of October. As of October 15th, there was short interest totalling 658,100 shares, a growth of 40.6% from the September 30th total of 468,100 shares. Based on an average daily volume of 248,400 shares, the short-interest ratio is currently 2.6 days. Currently, 1.1% of the shares of the stock are sold short.

Insider Activity at Cognyte Software

In other news, major shareholder Topline Capital Partners, Lp acquired 553,591 shares of the firm’s stock in a transaction on Wednesday, September 11th. The shares were purchased 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 $54,292,148.64. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Cognyte Software news, major shareholder Topline Capital Partners, Lp acquired 553,591 shares of Cognyte Software stock in a transaction on Wednesday, September 11th. The shares were bought at an average price 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 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 legal filing with the SEC, which is available through the SEC website. Also, insider Topline Capital Management, Ll bought 416,040 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were acquired at an average price of $6.30 per share, for a total transaction of $2,621,052.00. Following the acquisition, the insider now directly owns 9,020,184 shares of the company’s stock, valued at approximately $56,827,159.20. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. 62.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Essex Investment Management Co. LLC increased its holdings in Cognyte Software by 1.6% in the first quarter. Essex Investment Management Co. LLC now owns 339,452 shares of the medical device company’s stock valued at $2,807,000 after purchasing an additional 5,244 shares during the last quarter. Sei Investments Co. raised its holdings in Cognyte Software by 25.6% in the first quarter. Sei Investments Co. now owns 129,122 shares of the medical device company’s stock worth $1,068,000 after purchasing an additional 26,341 shares during the period. Edmond DE Rothschild Holding S.A. boosted its position in shares of Cognyte Software by 446.6% during the first quarter. Edmond DE Rothschild Holding S.A. now owns 34,870 shares of the medical device company’s stock worth $288,000 after purchasing an additional 28,490 shares in the last quarter. Acadian Asset Management LLC grew its holdings in shares of Cognyte Software by 30.3% in the 1st quarter. Acadian Asset Management LLC now owns 2,304,970 shares of the medical device company’s stock valued at $19,041,000 after buying an additional 536,393 shares during the period. Finally, Covestor Ltd bought a new stake in shares of Cognyte Software in the 1st quarter valued at $73,000. Institutional investors and hedge funds own 72.92% of the company’s stock.

Analysts Set New Price Targets

CGNT has been the topic of a number of research reports. StockNews.com upgraded shares of Cognyte Software from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 23rd. Needham & Company LLC restated a “hold” rating on shares of Cognyte Software in a research report on Tuesday, September 10th.

Cognyte Software Stock Down 1.8 %

CGNT stock traded down $0.12 during midday trading on Tuesday, reaching $6.58. The stock had a trading volume of 174,390 shares, compared to its average volume of 313,521. The firm has a market cap of $467.33 million, a price-to-earnings ratio of -38.71 and a beta of 1.73. Cognyte Software has a twelve month low of $4.01 and a twelve month high of $8.70. The business has a fifty day simple moving average of $6.92 and a two-hundred day simple moving average of $7.27.

Cognyte Software (NASDAQ:CGNT) last issued its quarterly 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. Cognyte Software had a negative net margin of 1.35% and a negative return on equity of 2.56%. The company had revenue of $84.40 million during the quarter, compared to analysts’ expectations of $83.69 million. During the same quarter in the previous year, the company earned ($0.11) EPS. Cognyte Software’s revenue was up 9.5% on a year-over-year basis. On average, equities analysts predict that Cognyte Software will post -0.28 earnings per share 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.