Eagle Asset Management Inc. lowered its stake in CommVault Systems, Inc. (NASDAQ:CVLT) by 4.6% in the 4th quarter, HoldingsChannel reports. The fund owned 266,218 shares of the software maker’s stock after selling 12,859 shares during the period. Eagle Asset Management Inc.’s holdings in CommVault Systems were worth $13,976,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company grew its position in CommVault Systems by 1.1% in the second quarter. The Manufacturers Life Insurance Company now owns 90,154 shares of the software maker’s stock worth $5,090,000 after acquiring an additional 937 shares in the last quarter. ING Groep NV grew its position in CommVault Systems by 25.0% in the fourth quarter. ING Groep NV now owns 6,481 shares of the software maker’s stock worth $340,000 after acquiring an additional 1,297 shares in the last quarter. Cubist Systematic Strategies LLC grew its position in CommVault Systems by 21.3% in the third quarter. Cubist Systematic Strategies LLC now owns 10,324 shares of the software maker’s stock worth $628,000 after acquiring an additional 1,810 shares in the last quarter. Swiss National Bank grew its position in CommVault Systems by 3.8% in the fourth quarter. Swiss National Bank now owns 73,600 shares of the software maker’s stock worth $3,864,000 after acquiring an additional 2,700 shares in the last quarter. Finally, California Public Employees Retirement System grew its position in CommVault Systems by 3.2% in the third quarter. California Public Employees Retirement System now owns 90,726 shares of the software maker’s stock worth $5,516,000 after acquiring an additional 2,826 shares in the last quarter. Institutional investors own 93.77% of the company’s stock.
Shares of CommVault Systems, Inc. (NASDAQ:CVLT) opened at $52.55 on Wednesday. The stock has a market cap of $2,359.47, a PE ratio of -41.71, a price-to-earnings-growth ratio of 84.00 and a beta of 1.36. CommVault Systems, Inc. has a 12 month low of $48.08 and a 12 month high of $64.60.
CommVault Systems (NASDAQ:CVLT) last announced its quarterly earnings data on Wednesday, January 24th. The software maker reported $0.04 earnings per share (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 the consensus estimate of $182.01 million. CommVault Systems had a positive return on equity of 0.32% and a negative net margin of 8.30%. The firm’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.28 EPS. equities analysts anticipate that CommVault Systems, Inc. will post 0.03 earnings per share for the current fiscal year.
CommVault Systems announced that its board has authorized a stock buyback plan on Wednesday, January 24th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the software maker to buy shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.
In other CommVault Systems 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 completion of the sale, the director now owns 42,850 shares of the company’s stock, valued at $2,377,318. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Gary Merrill sold 900 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $52.25, for a total transaction of $47,025.00. Following the completion of the sale, the insider now directly owns 19,075 shares of the company’s stock, valued at approximately $996,668.75. The disclosure for this sale can be found here. In the last three months, insiders sold 17,235 shares of company stock valued at $934,839. 13.40% of the stock is owned by insiders.
Several research firms recently commented on CVLT. BidaskClub upgraded CommVault Systems from a “strong sell” rating to a “sell” rating in a research report on Thursday, January 4th. Mizuho reiterated a “buy” rating and issued a $75.00 price target on shares of CommVault Systems in a research report on Wednesday, January 17th. Mitsubishi UFJ Financial Group lowered CommVault Systems from an “overweight” rating to a “neutral” rating in a research report on Wednesday, October 25th. Wells Fargo & Co began coverage on CommVault Systems in a research report on Tuesday, November 14th. They issued an “outperform” rating and a $64.00 price target for the company. Finally, Zacks Investment Research lowered CommVault Systems from a “hold” rating to a “sell” rating in a research report on Wednesday, January 10th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $69.78.
ILLEGAL ACTIVITY NOTICE: This article was originally published by Stock Observer and is the property of of Stock Observer. If you are reading this article on another site, it was illegally stolen and republished in violation of U.S. and international trademark & copyright law. The legal version of this article can be viewed at https://www.thestockobserver.com/2018/02/21/eagle-asset-management-inc-sells-12859-shares-of-commvault-systems-inc-cvlt.html.
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.
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.