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

Legato Capital Management LLC lowered its stake in Cognyte Software Ltd. (NASDAQ:CGNT - Free Report) by 23.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 103,345 shares of the company's stock after selling 31,062 shares during the quarter. Legato Capital Management LLC owned about 0.14% of Cognyte Software worth $894,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of CGNT. American Capital Management Inc. lifted its holdings in shares of Cognyte Software by 8.5% in the 3rd quarter. American Capital Management Inc. now owns 6,402,813 shares of the company's stock valued at $43,475,000 after purchasing an additional 502,781 shares during the last quarter. Edenbrook Capital LLC raised its stake in shares of Cognyte Software by 3.4% during the 3rd quarter. Edenbrook Capital LLC now owns 6,283,226 shares of the company's stock worth $42,663,000 after buying an additional 207,675 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Cognyte Software in the third quarter valued at approximately $1,101,000. Angeles Wealth Management LLC acquired a new position in shares of Cognyte Software in the third quarter worth $437,000. Finally, Atom Investors LP boosted its stake in shares of Cognyte Software by 100.3% during the 3rd quarter. Atom Investors LP now owns 104,470 shares of the company's stock worth $709,000 after purchasing an additional 52,310 shares during the last quarter. Hedge funds and other institutional investors own 72.92% of the company's stock.

Analyst Ratings Changes

CGNT has been the topic of a number of research analyst reports. Needham & Company LLC reiterated a "hold" rating on shares of Cognyte Software in a report on Thursday, December 12th. StockNews.com lowered Cognyte Software from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, December 18th.

Cognyte Software Trading Down 3.7 %

Shares of NASDAQ CGNT traded down $0.40 during midday trading on Monday, reaching $10.34. The company's stock had a trading volume of 313,253 shares, compared to its average volume of 341,092. Cognyte Software Ltd. has a one year low of $6.21 and a one year high of $11.12. The company has a market cap of $743.34 million, a price-to-earnings ratio of -54.42 and a beta of 1.77. The company has a 50 day moving average price of $9.32 and a 200 day moving average price of $7.92.

Cognyte Software announced that its Board of Directors has initiated a share repurchase program on Tuesday, November 12th that authorizes the company to buyback $20.00 million in shares. This buyback authorization authorizes the company to reacquire up to 3.7% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's leadership believes its shares are undervalued.

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.