Legato Capital Management LLC Sells 31,062 Shares of Cognyte Software Ltd. (NASDAQ:CGNT)

Legato Capital Management LLC lowered its holdings in shares of Cognyte Software Ltd. (NASDAQ:CGNT) by 23.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 103,345 shares of the company’s stock after selling 31,062 shares during the period. Legato Capital Management LLC owned approximately 0.14% of Cognyte Software worth $894,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. R Squared Ltd acquired a new stake in Cognyte Software during the fourth quarter worth approximately $26,000. State of New Jersey Common Pension Fund D grew its stake in Cognyte Software by 34.4% during the third quarter. State of New Jersey Common Pension Fund D now owns 23,186 shares of the company’s stock worth $157,000 after purchasing an additional 5,940 shares during the period. XTX Topco Ltd acquired a new stake in Cognyte Software during the third quarter worth approximately $169,000. Centiva Capital LP acquired a new stake in Cognyte Software during the third quarter worth approximately $172,000. Finally, Tidal Investments LLC grew its stake in Cognyte Software by 4.6% during the third quarter. Tidal Investments LLC now owns 59,902 shares of the company’s stock worth $407,000 after purchasing an additional 2,648 shares during the period. Institutional investors and hedge funds own 72.92% of the company’s stock.

Cognyte Software Stock Performance

Shares of Cognyte Software stock opened at $10.74 on Friday. Cognyte Software Ltd. has a 52 week low of $6.21 and a 52 week high of $11.12. The stock has a 50 day moving average price of $9.26 and a two-hundred day moving average price of $7.88. The stock has a market capitalization of $772.10 million, a PE ratio of -56.53 and a beta of 1.77.

Cognyte Software declared that its board has authorized a share buyback plan on Tuesday, November 12th that authorizes the company to repurchase $20.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 3.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Needham & Company LLC reissued a “hold” rating on shares of Cognyte Software in a research note on Thursday, December 12th. StockNews.com cut Cognyte Software from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th.

Cognyte Software Company 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.