Alps Advisors Inc. bought a new position in shares of CommVault Systems, Inc. (NASDAQ:CVLT) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 8,761 shares of the software maker’s stock, valued at approximately $460,000.
Several other hedge funds have also recently bought and sold shares of CVLT. Magnetar Financial LLC purchased a new position in shares of CommVault Systems during the 3rd quarter worth approximately $201,000. Teacher Retirement System of Texas purchased a new position in shares of CommVault Systems during the 3rd quarter worth approximately $215,000. Virtu KCG Holdings LLC purchased a new position in shares of CommVault Systems during the 2nd quarter worth approximately $278,000. Crow Point Partners LLC purchased a new position in shares of CommVault Systems during the 3rd quarter worth approximately $287,000. Finally, Crossmark Global Holdings Inc. purchased a new position in shares of CommVault Systems during the 3rd quarter worth approximately $307,000. Hedge funds and other institutional investors own 91.21% of the company’s stock.
A number of research firms have weighed in on CVLT. Lake Street Capital reiterated a “buy” rating and set a $58.00 target price (down previously from $60.00) on shares of CommVault Systems in a report on Thursday, January 25th. Mizuho reiterated a “buy” rating and set a $75.00 target price on shares of CommVault Systems in a report on Tuesday, January 23rd. BidaskClub downgraded CommVault Systems from a “sell” rating to a “strong sell” rating in a report on Thursday, January 18th. Zacks Investment Research downgraded CommVault Systems from a “hold” rating to a “sell” rating in a report on Wednesday, January 10th. Finally, Wells Fargo & Co began coverage on CommVault Systems in a report on Tuesday, November 14th. They set an “outperform” rating and a $64.00 target price on the stock. Two 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 stock. CommVault Systems has an average rating of “Hold” and a consensus price target of $69.78.
In related news, Director David F. Walker sold 5,500 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The stock was 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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Gary Merrill sold 3,335 shares of the company’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $54.40, for a total value of $181,424.00. Following the completion of the transaction, the insider now directly owns 18,771 shares in the company, valued at $1,021,142.40. The disclosure for this sale can be found here. Insiders sold a total of 16,335 shares of company stock worth $887,814 in the last 90 days. 13.40% of the stock is currently owned by company insiders.
Shares of CommVault Systems, Inc. (CVLT) opened at $50.55 on Tuesday. The firm has a market capitalization of $2,330.00, a P/E ratio of -39.80, a P/E/G ratio of 79.60 and a beta of 1.36. CommVault Systems, Inc. has a 52 week low of $48.08 and a 52 week high of $64.60.
CommVault Systems (NASDAQ:CVLT) last posted its quarterly earnings results on Wednesday, January 24th. The software maker reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.01). The company had revenue of $180.37 million during the quarter, compared to analysts’ expectations of $182.01 million. CommVault Systems had a positive return on equity of 0.32% and a negative net margin of 8.30%. The business’s quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.28 EPS. analysts forecast that CommVault Systems, Inc. will post 0.03 earnings per share for the current year.
CommVault Systems declared that its board has initiated a stock repurchase plan on Wednesday, January 24th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the software maker to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.
CommVault Systems Company 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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