Scalar Gauge Management LLC Acquires 15,000 Shares of Cognyte Software Ltd. (NASDAQ:CGNT)

Scalar Gauge Management LLC grew its stake in Cognyte Software Ltd. (NASDAQ:CGNT) by 3.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 440,032 shares of the medical device company’s stock after acquiring an additional 15,000 shares during the period. Cognyte Software accounts for approximately 1.6% of Scalar Gauge Management LLC’s holdings, making the stock its 18th largest position. Scalar Gauge Management LLC’s holdings in Cognyte Software were worth $2,988,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of CGNT. State of New Jersey Common Pension Fund D grew its stake 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 in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new stake in shares of Cognyte Software in the 2nd quarter valued at approximately $586,000. Edenbrook Capital LLC grew its stake in shares of Cognyte Software by 3.4% in the third quarter. Edenbrook Capital LLC now owns 6,283,226 shares of the medical device company’s stock valued at $42,663,000 after buying an additional 207,675 shares in the last quarter. Tidal Investments LLC acquired a new position in Cognyte Software during the first quarter worth $515,000. Finally, Acadian Asset Management LLC raised 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 acquiring an additional 306,479 shares in the last quarter. Institutional investors and hedge funds own 72.92% of the company’s stock.

Insider Transactions at Cognyte Software

In other Cognyte Software news, major shareholder Topline Capital Partners, Lp acquired 553,591 shares of the business’s 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 acquisition, the insider now directly owns 8,604,144 shares of the company’s stock, valued at approximately $54,292,148.64. This trade represents a 6.88 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Topline Capital Management, Ll bought 416,040 shares of the firm’s stock in a transaction on 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 transaction, the insider now owns 9,020,184 shares in the company, valued at approximately $56,827,159.20. This represents a 4.84 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 62.70% of the stock is owned by corporate insiders.

Cognyte Software Price Performance

Shares of Cognyte Software stock opened at $8.12 on Friday. The business has a fifty day simple moving average of $6.94 and a two-hundred day simple moving average of $7.30. Cognyte Software Ltd. has a 1 year low of $5.00 and a 1 year high of $8.70. The company has a market capitalization of $583.75 million, a price-to-earnings ratio of -115.98 and a beta of 1.72.

Cognyte Software (NASDAQ:CGNT) last announced 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 business had revenue of $84.40 million during the quarter, compared to the consensus estimate 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 revenue was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.11) EPS. As a group, equities analysts anticipate that Cognyte Software Ltd. will post -0.28 earnings per share for the current fiscal year.

Cognyte Software announced that its Board of Directors has initiated a share buyback program on Tuesday, November 12th that authorizes the company to buyback $20.00 million in outstanding shares. This buyback authorization authorizes the medical device company to reacquire up to 3.7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Needham & Company LLC reissued a “hold” rating on shares of Cognyte Software in a research report on Tuesday, September 10th. StockNews.com downgraded shares of Cognyte Software from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 22nd.

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.