Thrivent Financial For Lutherans trimmed its position in CommVault Systems, Inc. (NASDAQ:CVLT) by 60.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 80,768 shares of the software maker’s stock after selling 124,352 shares during the quarter. Thrivent Financial For Lutherans owned approximately 0.18% of CommVault Systems worth $4,240,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. lifted its holdings in shares of CommVault Systems by 2.2% in the fourth quarter. BlackRock Inc. now owns 4,424,276 shares of the software maker’s stock worth $232,274,000 after buying an additional 96,629 shares in the last quarter. Bank of New York Mellon Corp raised its stake in CommVault Systems by 9.7% in the fourth quarter. Bank of New York Mellon Corp now owns 1,951,363 shares of the software maker’s stock valued at $102,446,000 after purchasing an additional 172,195 shares in the last quarter. Champlain Investment Partners LLC raised its stake in CommVault Systems by 7.8% in the fourth quarter. Champlain Investment Partners LLC now owns 1,496,415 shares of the software maker’s stock valued at $78,562,000 after purchasing an additional 108,140 shares in the last quarter. Mackenzie Financial Corp raised its stake in CommVault Systems by 7.3% in the fourth quarter. Mackenzie Financial Corp now owns 1,459,688 shares of the software maker’s stock valued at $76,634,000 after purchasing an additional 99,800 shares in the last quarter. Finally, Victory Capital Management Inc. raised its stake in CommVault Systems by 21.1% in the fourth quarter. Victory Capital Management Inc. now owns 819,388 shares of the software maker’s stock valued at $43,018,000 after purchasing an additional 142,611 shares in the last quarter. 90.07% of the stock is currently owned by hedge funds and other institutional investors.
CommVault Systems, Inc. (CVLT) opened at $58.55 on Friday. The company has a market cap of $2,566.20, a P/E ratio of -46.47, a price-to-earnings-growth ratio of 91.36 and a beta of 1.31. CommVault Systems, Inc. has a one year low of $48.30 and a one year high of $64.60.
CommVault Systems (NASDAQ:CVLT) last posted its quarterly 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). The business had revenue of $180.37 million for 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 company’s revenue was up 8.0% compared to the same quarter last year. During the same period last year, the business posted $0.28 earnings per share. analysts anticipate that CommVault Systems, Inc. will post 0.03 EPS for the current fiscal year.
CommVault Systems declared that its Board of Directors has initiated a stock repurchase program on Wednesday, January 24th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the software maker to reacquire shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.
In other CommVault Systems news, insider Al Bunte sold 70,000 shares of CommVault Systems stock in a transaction that occurred on Friday, March 2nd. The shares were sold at an average price of $50.74, for a total transaction of $3,551,800.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director David F. Walker sold 5,500 shares of CommVault Systems stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $55.48, for a total transaction of $305,140.00. Following the transaction, the director now directly owns 42,850 shares in the company, valued at $2,377,318. The disclosure for this sale can be found here. Insiders have sold 289,737 shares of company stock worth $14,770,440 over the last three months. Insiders own 13.40% of the company’s stock.
A number of brokerages recently weighed in on CVLT. BidaskClub raised shares of CommVault Systems from a “strong sell” rating to a “sell” rating in a research note on Thursday, January 4th. Mizuho reaffirmed a “buy” rating and issued a $75.00 target price on shares of CommVault Systems in a research note on Wednesday, January 17th. Zacks Investment Research raised shares of CommVault Systems from a “sell” rating to a “hold” rating in a research note on Friday, March 9th. Finally, Lake Street Capital reaffirmed a “buy” rating and issued a $58.00 target price (down from $60.00) on shares of CommVault Systems in a research note on Thursday, January 25th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price 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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