LS Investment Advisors LLC cut its stake in CommVault Systems, Inc. (NASDAQ:CVLT) by 30.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,797 shares of the software maker’s stock after selling 1,252 shares during the quarter. LS Investment Advisors LLC’s holdings in CommVault Systems were worth $147,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of the company. The Manufacturers Life Insurance Company raised its position in shares of CommVault Systems by 1.1% in the second quarter. The Manufacturers Life Insurance Company now owns 90,154 shares of the software maker’s stock valued at $5,090,000 after purchasing an additional 937 shares during the period. ING Groep NV increased its position in CommVault Systems by 25.0% during the fourth quarter. ING Groep NV now owns 6,481 shares of the software maker’s stock worth $340,000 after acquiring an additional 1,297 shares during the period. Cubist Systematic Strategies LLC increased its position in CommVault Systems by 21.3% during the third quarter. Cubist Systematic Strategies LLC now owns 10,324 shares of the software maker’s stock worth $628,000 after acquiring an additional 1,810 shares during the period. Swiss National Bank increased its position in CommVault Systems by 3.8% during the fourth quarter. Swiss National Bank now owns 73,600 shares of the software maker’s stock worth $3,864,000 after acquiring an additional 2,700 shares during the period. Finally, California Public Employees Retirement System increased its position in CommVault Systems by 3.2% during the third quarter. California Public Employees Retirement System now owns 90,726 shares of the software maker’s stock worth $5,516,000 after acquiring an additional 2,826 shares during the period. 93.77% of the stock is currently owned by institutional investors.
In other CommVault Systems news, Director David F. Walker sold 5,500 shares of the firm’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $55.48, for a total value of $305,140.00. Following the transaction, the director now directly owns 42,850 shares of the company’s stock, valued at approximately $2,377,318. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Gary Merrill sold 900 shares of the firm’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $52.25, for a total transaction of $47,025.00. Following the completion of the transaction, the insider now directly owns 19,075 shares in the company, valued at $996,668.75. The disclosure for this sale can be found here. Over the last three months, insiders sold 24,735 shares of company stock worth $1,329,264. Insiders own 13.40% of the company’s stock.
CommVault Systems (NASDAQ:CVLT) last released its earnings results on Wednesday, January 24th. The software maker reported $0.04 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.01). CommVault Systems had a negative net margin of 8.30% and a positive return on equity of 0.32%. The firm had revenue of $180.37 million during the quarter, compared to the consensus estimate of $182.01 million. During the same period in the prior year, the business earned $0.28 earnings per share. CommVault Systems’s quarterly revenue was up 8.0% compared to the same quarter last year. equities research analysts forecast that CommVault Systems, Inc. will post 0.03 earnings per share for the current fiscal year.
CommVault Systems announced that its board has authorized a share repurchase plan on Wednesday, January 24th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the software maker to repurchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.
A number of research firms recently commented on CVLT. BidaskClub raised shares of CommVault Systems from a “strong sell” rating to a “sell” rating in a research report on Thursday, January 4th. Mizuho reaffirmed a “buy” rating and set a $75.00 price target on shares of CommVault Systems in a research report on Wednesday, January 17th. Wells Fargo & Co began coverage on shares of CommVault Systems in a research report on Tuesday, November 14th. They set an “outperform” rating and a $64.00 price target on the stock. Zacks Investment Research lowered shares of CommVault Systems from a “hold” rating to a “sell” rating in a research report on Wednesday, January 10th. Finally, Lake Street Capital reaffirmed a “buy” rating and set a $58.00 price target (down from $60.00) on shares of CommVault Systems in a research report on Thursday, January 25th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company. CommVault Systems currently has an average rating of “Hold” and a consensus price target of $69.78.
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CommVault Systems Profile
Commvault Systems, Inc (Commvault) is a provider of data and information management software applications and related services. The Company develops, markets and sells a suite of software applications and services, primarily in North America, Europe, Australia and Asia, that provides its customers with data protection solutions supporting all operating systems, applications, and databases on virtual and physical servers, Network Attached Storage (NAS) shares, cloud-based infrastructures, and mobile devices; management through a single console; multiple protection methods, including backup and archive, snapshot management, replication, and content indexing for eDiscovery; storage management using deduplication for disk, tape and cloud; integration with the storage arrays; complete virtual infrastructure management supporting multiple hypervisors; security capabilities to limit access to critical data, and policy-based data management.
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