Franklin Resources Inc. Sells 2,201 Shares of Cognyte Software Ltd. (NASDAQ:CGNT)

Franklin Resources Inc. trimmed its position in shares of Cognyte Software Ltd. (NASDAQ:CGNT) by 12.8% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 15,033 shares of the company’s stock after selling 2,201 shares during the quarter. Franklin Resources Inc.’s holdings in Cognyte Software were worth $104,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of CGNT. Scalar Gauge Management LLC grew its holdings in Cognyte Software by 30.8% during the 2nd quarter. Scalar Gauge Management LLC now owns 425,032 shares of the company’s stock valued at $3,247,000 after purchasing an additional 100,000 shares during the last quarter. American Capital Management Inc. boosted its position in shares of Cognyte Software by 8.5% during the third quarter. American Capital Management Inc. now owns 6,402,813 shares of the company’s stock valued at $43,475,000 after buying an additional 502,781 shares during the period. Edenbrook Capital LLC grew its stake in shares of Cognyte Software by 3.4% during the third quarter. Edenbrook Capital LLC now owns 6,283,226 shares of the company’s stock valued at $42,663,000 after buying an additional 207,675 shares during the last quarter. State of New Jersey Common Pension Fund D raised its holdings in shares of Cognyte Software by 34.4% in 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 buying an additional 5,940 shares during the period. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of Cognyte Software during the 3rd quarter worth approximately $1,101,000. Institutional investors own 72.92% of the company’s stock.

Analyst Ratings Changes

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

Cognyte Software Stock Down 0.2 %

CGNT opened at $8.63 on Friday. The stock’s fifty day moving average is $7.92 and its two-hundred day moving average is $7.47. The company has a market capitalization of $620.45 million, a P/E ratio of -45.42 and a beta of 1.81. Cognyte Software Ltd. has a 52 week low of $5.44 and a 52 week high of $9.59.

Cognyte Software declared that its board has approved a share repurchase plan on Tuesday, November 12th that allows the company to buyback $20.00 million in outstanding shares. This buyback authorization allows the company to buy up to 3.7% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.

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.