Topline Capital Management LLC Buys 168,329 Shares of Cognyte Software Ltd. $CGNT

by · The Markets Daily

Topline Capital Management LLC boosted its stake in Cognyte Software Ltd. (NASDAQ:CGNT – Free Report) by 2.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,195,619 shares of the company’s stock after purchasing an additional 168,329 shares during the quarter. Cognyte Software comprises 10.4% of Topline Capital Management LLC’s portfolio, making the stock its 2nd largest position. Topline Capital Management LLC owned about 9.86% of Cognyte Software worth $60,443,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Millennium Management LLC raised its stake in Cognyte Software by 101.9% during the first quarter. Millennium Management LLC now owns 921,853 shares of the company’s stock worth $7,190,000 after purchasing an additional 465,307 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in shares of Cognyte Software by 49.3% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 840,735 shares of the company’s stock worth $7,768,000 after buying an additional 277,730 shares during the last quarter. Scalar Gauge Management LLC increased its holdings in shares of Cognyte Software by 44.8% during the 3rd quarter. Scalar Gauge Management LLC now owns 789,099 shares of the company’s stock worth $6,628,000 after buying an additional 244,067 shares during the last quarter. Marshall Wace LLP raised its position in shares of Cognyte Software by 77.5% in the 2nd quarter. Marshall Wace LLP now owns 756,876 shares of the company’s stock worth $6,994,000 after buying an additional 330,569 shares during the period. Finally, JPMorgan Chase & Co. raised its position in shares of Cognyte Software by 36.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 582,139 shares of the company’s stock worth $5,379,000 after buying an additional 154,955 shares during the period. Institutional investors and hedge funds own 72.92% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Lake Street Capital started coverage on Cognyte Software in a research report on Monday, March 2nd. They set a “buy” rating and a $13.00 price target for the company. Wall Street Zen upgraded Cognyte Software from a “hold” rating to a “buy” rating in a report on Saturday, December 13th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cognyte Software in a research note on Wednesday, January 21st. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $13.50.

Check Out Our Latest Stock Analysis on CGNT

Cognyte Software Trading Down 1.3%

Shares of CGNT stock opened at $8.40 on Friday. The company has a market cap of $612.94 million, a PE ratio of -105.00 and a beta of 1.64. The company’s fifty day simple moving average is $8.26 and its 200-day simple moving average is $8.52. Cognyte Software Ltd. has a 52 week low of $6.29 and a 52 week high of $11.65.

Cognyte Software (NASDAQ:CGNT – Get Free Report) last announced its quarterly earnings results on Tuesday, December 9th. The company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.05. Cognyte Software had a negative net margin of 1.45% and a negative return on equity of 2.24%. The firm had revenue of $100.74 million during the quarter, compared to analysts’ expectations of $99.58 million. Equities research analysts expect that Cognyte Software Ltd. will post -0.2 EPS for the current fiscal year.

Cognyte Software Profile

(Free Report)

Cognyte Software Ltd. is a global provider of security analytics solutions that was spun off from NICE Ltd. in early 2021. Headquartered in Israel, the company delivers specialized software and services designed to help government agencies, law enforcement organizations and critical infrastructure operators process and analyze large volumes of data for intelligence and investigative purposes.

The company’s core offerings include advanced analytics platforms that aggregate and visualize structured and unstructured data from diverse sources, such as communications metadata, open-source intelligence and sensor feeds.

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