State Treasurer State of Michigan decreased its holdings in shares of CommVault Systems, Inc. (NASDAQ:CVLT) by 9.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,200 shares of the software maker’s stock after selling 1,400 shares during the period. State Treasurer State of Michigan’s holdings in CommVault Systems were worth $994,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. BlackRock Inc. raised its holdings in CommVault Systems by 5.7% during the second quarter. BlackRock Inc. now owns 4,691,145 shares of the software maker’s stock worth $308,910,000 after buying an additional 254,649 shares during the last quarter. FMR LLC raised its holdings in CommVault Systems by 5.5% during the second quarter. FMR LLC now owns 1,787,322 shares of the software maker’s stock worth $117,696,000 after buying an additional 93,309 shares during the last quarter. Renaissance Technologies LLC raised its holdings in CommVault Systems by 17.3% during the second quarter. Renaissance Technologies LLC now owns 1,599,800 shares of the software maker’s stock worth $105,347,000 after buying an additional 236,400 shares during the last quarter. Northern Trust Corp raised its holdings in CommVault Systems by 3.1% during the second quarter. Northern Trust Corp now owns 654,209 shares of the software maker’s stock worth $43,079,000 after buying an additional 19,564 shares during the last quarter. Finally, MERIAN GLOBAL INVESTORS UK Ltd raised its holdings in CommVault Systems by 196.8% during the third quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 430,530 shares of the software maker’s stock worth $30,137,000 after buying an additional 285,486 shares during the last quarter. Hedge funds and other institutional investors own 90.63% of the company’s stock.
In other news, Director Vivie Lee sold 860 shares of the company’s stock in a transaction on Friday, September 14th. The shares were sold at an average price of $69.75, for a total value of $59,985.00. Following the completion of the sale, the director now owns 4,364 shares in the company, valued at approximately $304,389. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 13.40% of the company’s stock.
NASDAQ CVLT opened at $58.39 on Friday. CommVault Systems, Inc. has a 1 year low of $48.35 and a 1 year high of $72.65. The firm has a market capitalization of $2.66 billion, a PE ratio of 253.13, a PEG ratio of 6.15 and a beta of 1.40.
CommVault Systems (NASDAQ:CVLT) last posted its earnings results on Tuesday, October 30th. The software maker reported $0.40 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.03. CommVault Systems had a negative net margin of 9.61% and a positive return on equity of 2.96%. The firm had revenue of $169.08 million during the quarter, compared to analyst estimates of $179.08 million. During the same quarter in the prior year, the business posted $0.21 EPS. The business’s revenue was up .6% compared to the same quarter last year. On average, research analysts expect that CommVault Systems, Inc. will post 0.59 earnings per share for the current year.
Several research firms have weighed in on CVLT. BidaskClub upgraded shares of CommVault Systems from a “hold” rating to a “buy” rating in a report on Saturday, September 29th. ValuEngine upgraded shares of CommVault Systems from a “hold” rating to a “buy” rating in a report on Tuesday, September 4th. Zacks Investment Research downgraded shares of CommVault Systems from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 25th. Finally, Mitsubishi UFJ Financial Group upped their price objective on shares of CommVault Systems and gave the stock a “neutral” rating in a report on Wednesday, July 25th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $76.57.
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.
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