BlackRock Inc. increased its stake in CommVault Systems, Inc. (NASDAQ:CVLT) by 5.7% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 4,691,145 shares of the software maker’s stock after acquiring an additional 254,649 shares during the quarter. BlackRock Inc. owned about 0.10% of CommVault Systems worth $308,910,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of CVLT. Cubist Systematic Strategies LLC purchased a new position in CommVault Systems in the 1st quarter worth about $171,000. Oakbrook Investments LLC purchased a new position in CommVault Systems in the 2nd quarter worth about $211,000. Hartford Investment Management Co. purchased a new position in CommVault Systems in the 2nd quarter worth about $226,000. Fox Run Management L.L.C. purchased a new position in CommVault Systems in the 2nd quarter worth about $244,000. Finally, US Bancorp DE increased its stake in CommVault Systems by 124.1% in the 2nd quarter. US Bancorp DE now owns 3,803 shares of the software maker’s stock worth $250,000 after buying an additional 2,106 shares during the period. 90.17% of the stock is currently owned by institutional investors.
NASDAQ CVLT opened at $69.60 on Friday. The stock has a market cap of $3.20 billion, a price-to-earnings ratio of -117.97, a price-to-earnings-growth ratio of 7.39 and a beta of 1.18. CommVault Systems, Inc. has a one year low of $48.35 and a one year high of $72.65.
CommVault Systems (NASDAQ:CVLT) last posted its earnings results on Tuesday, July 24th. The software maker reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.09. The business had revenue of $176.18 million for the quarter, compared to the consensus estimate of $177.92 million. CommVault Systems had a negative net margin of 9.89% and a positive return on equity of 0.72%. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.21 EPS. equities research analysts expect that CommVault Systems, Inc. will post 0.6 earnings per share for the current fiscal year.
Several research analysts recently commented on CVLT shares. Wells Fargo & Co raised their price target on shares of CommVault Systems from $75.00 to $80.00 and gave the stock an “outperform” rating in a research note on Thursday, June 7th. BidaskClub downgraded shares of CommVault Systems from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 8th. Mitsubishi UFJ Financial Group raised their price target on shares of CommVault Systems and gave the stock a “neutral” rating in a research note on Wednesday, July 25th. Zacks Investment Research raised shares of CommVault Systems from a “hold” rating to a “strong-buy” rating and set a $74.00 price target on the stock in a research note on Friday, July 27th. Finally, ValuEngine downgraded shares of CommVault Systems from a “buy” rating to a “hold” rating in a research note on Saturday, August 18th. Four equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. CommVault Systems has an average rating of “Buy” and an average target price of $77.00.
In other CommVault Systems news, SVP Ronald L. Miiller sold 101,521 shares of the firm’s stock in a transaction dated Thursday, July 26th. The shares were sold at an average price of $65.34, for a total transaction of $6,633,382.14. Following the transaction, the senior vice president now owns 140,666 shares of the company’s stock, valued at approximately $9,191,116.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Ronald L. Miiller sold 2,213 shares of the firm’s stock in a transaction dated Wednesday, August 1st. The shares were sold at an average price of $65.00, for a total transaction of $143,845.00. Following the transaction, the senior vice president now directly owns 98,117 shares in the company, valued at approximately $6,377,605. The disclosure for this sale can be found here. Insiders have sold a total of 103,869 shares of company stock worth $6,785,958 in the last three months. Insiders own 13.40% of the company’s stock.
About CommVault Systems
Commvault Systems, Inc provides data protection and information management software applications and related services in the United States, Canada, Latin America, Europe, the Middle East, Africa, Australia, New Zealand, Southeast Asia, and China. The company offers data protection, backup, and recovery software solutions for the backup of databases, files, applications, endpoints, and virtual machines according to data type and recovery profile; and help to optimize storage with deduplication, recover data, and leverage reports.
See Also: Book Value Per Share – BVPS
Want to see what other hedge funds are holding CVLT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CommVault Systems, Inc. (NASDAQ:CVLT).
Receive News & Ratings for CommVault Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CommVault Systems and related companies with MarketBeat.com's FREE daily email newsletter.