Renaissance Technologies LLC cut its stake in Cognyte Software Ltd. (NASDAQ:CGNT - Free Report) by 20.1% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 555,400 shares of the medical device company's stock after selling 139,311 shares during the quarter. Renaissance Technologies LLC owned about 0.78% of Cognyte Software worth $4,243,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Signaturefd LLC grew its holdings in shares of Cognyte Software by 91.4% during the 2nd 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 during the period. nVerses Capital LLC purchased a new position in shares of Cognyte Software during the 2nd quarter worth $28,000. DT Investment Partners LLC purchased a new position in shares of Cognyte Software during the 2nd quarter worth $62,000. Covestor Ltd purchased a new position in shares of Cognyte Software during the 1st quarter worth $73,000. Finally, Quadrature Capital Ltd purchased a new position in shares of Cognyte Software during the 4th quarter worth $144,000. 72.92% of the stock is owned by institutional investors and hedge funds.
Shares of NASDAQ CGNT opened at $6.79 on Friday. Cognyte Software Ltd. has a fifty-two week low of $4.00 and a fifty-two week high of $8.70. The firm has a market capitalization of $482.25 million, a PE ratio of -39.94 and a beta of 1.74. The stock's 50-day simple moving average is $7.21 and its 200-day simple moving average is $7.44.
Cognyte Software (NASDAQ:CGNT - Get Free Report) last issued its earnings results on Tuesday, September 10th. The medical device company reported $0.05 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $84.40 million for the quarter, compared to analyst estimates of $83.69 million. During the same quarter last year, the company earned ($0.11) EPS. The business's quarterly revenue was up 9.5% on a year-over-year basis. On average, sell-side analysts forecast that Cognyte Software Ltd. will post -0.31 earnings per share for the current fiscal year.
In other news, insider Topline Capital Management, Ll purchased 416,040 shares of the business's stock in a transaction on Thursday, September 12th. The shares were bought at an average price of $6.30 per share, with a total value of $2,621,052.00. Following the completion of the transaction, the insider now directly owns 9,020,184 shares in the company, valued at approximately $56,827,159.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, major shareholder Topline Capital Partners, Lp bought 553,591 shares of the stock in a transaction on Wednesday, September 11th. The shares were bought at an average cost of $6.31 per share, for a total transaction of $3,493,159.21. Following the purchase, the insider now owns 8,604,144 shares of the company's stock, valued at approximately $54,292,148.64. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Topline Capital Management, Ll bought 416,040 shares of the stock in a transaction on Thursday, September 12th. The stock was bought at an average price of $6.30 per share, for a total transaction of $2,621,052.00. Following the completion of the purchase, the insider now directly owns 9,020,184 shares in the company, valued at approximately $56,827,159.20. The disclosure for this purchase can be found here. 62.70% of the stock is currently owned by corporate insiders.
CGNT has been the subject of a number of research analyst reports. Wedbush raised their target price on Cognyte Software from $8.00 to $9.00 and gave the company a "neutral" rating in a report on Thursday, June 20th. Needham & Company LLC restated a "hold" rating on shares of Cognyte Software in a report on Tuesday, September 10th. Finally, StockNews.com upgraded Cognyte Software from a "buy" rating to a "strong-buy" rating in a report on Thursday, September 19th.
View Our Latest Research Report on CGNT
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Cognyte Software, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Cognyte Software wasn't on the list.
While Cognyte Software currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.