Thrivent Financial For Lutherans trimmed its stake in Commvault (NASDAQ:CVLT) by 60.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 80,768 shares of the software maker’s stock after selling 124,352 shares during the period. Thrivent Financial For Lutherans owned about 0.18% of Commvault worth $4,240,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Cornerstone Capital Management Holdings LLC. increased its holdings in Commvault by 72.3% in the third quarter. Cornerstone Capital Management Holdings LLC. now owns 74,100 shares of the software maker’s stock valued at $4,505,000 after purchasing an additional 31,100 shares during the period. Cortina Asset Management LLC increased its holdings in Commvault by 6.1% in the third quarter. Cortina Asset Management LLC now owns 516,158 shares of the software maker’s stock valued at $31,382,000 after purchasing an additional 29,894 shares during the period. Ashford Capital Management Inc. acquired a new stake in Commvault in the third quarter valued at $8,306,000. Bank of New York Mellon Corp increased its holdings in Commvault by 36.9% in the third quarter. Bank of New York Mellon Corp now owns 1,779,168 shares of the software maker’s stock valued at $108,173,000 after purchasing an additional 479,659 shares during the period. Finally, Crossmark Global Holdings Inc. acquired a new stake in Commvault during the 3rd quarter worth about $307,000. Institutional investors and hedge funds own 90.07% of the company’s stock.
In related 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 owns 42,850 shares of the company’s stock, valued at approximately $2,377,318. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Gary B. Smith sold 7,500 shares of the firm’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $53.50, for a total transaction of $401,250.00. Following the completion of the transaction, the director now directly owns 44,212 shares in the company, valued at approximately $2,365,342. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 433,843 shares of company stock valued at $24,207,091. 13.40% of the stock is currently owned by company insiders.
A number of analysts have weighed in on CVLT shares. Lake Street Capital reiterated a “buy” rating and set a $58.00 price target (down from $60.00) on shares of Commvault in a report on Thursday, January 25th. Mizuho reiterated a “buy” rating and set a $75.00 price target on shares of Commvault in a report on Tuesday, January 23rd. ValuEngine upgraded Commvault from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. Jefferies Group reiterated a “buy” rating and set a $76.00 price target on shares of Commvault in a report on Monday, April 2nd. Finally, BidaskClub upgraded Commvault from a “hold” rating to a “buy” rating in a report on Tuesday, March 27th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $72.44.
Shares of CVLT traded down $0.05 during trading hours on Friday, hitting $66.35. The stock had a trading volume of 504,879 shares, compared to its average volume of 940,802. The company has a market cap of $2,981.90, a PE ratio of 1,327.00, a P/E/G ratio of 14.67 and a beta of 1.15. Commvault has a 1-year low of $48.35 and a 1-year high of $67.85.
Commvault (NASDAQ:CVLT) last issued its earnings results on Wednesday, January 24th. The software maker reported $0.04 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by ($0.01). The firm had revenue of $180.37 million during the quarter, compared to analyst estimates of $182.01 million. Commvault had a negative net margin of 8.30% and a positive return on equity of 0.32%. The business’s quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.28 earnings per share. equities research analysts predict that Commvault will post 0.03 earnings per share for the current fiscal year.
Commvault declared that its Board of Directors has authorized a stock buyback 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 buy shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.
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Commvault Systems, Inc provides data and information management software applications and related services in the United States and internationally. The company's software suite contains solutions that are built on a single unified code base and platform to protect, manage, and access data and information.
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