M&T Bank Corp grew its position in Commvault Systems, Inc. (NASDAQ:CVLT) by 2.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,696 shares of the software maker’s stock after acquiring an additional 399 shares during the quarter. M&T Bank Corp’s holdings in Commvault Systems were worth $681,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Advisor Group Holdings Inc. bought a new stake in shares of Commvault Systems in the 1st quarter worth approximately $83,000. Nisa Investment Advisors LLC lifted its position in shares of Commvault Systems by 40.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,069 shares of the software maker’s stock worth $80,000 after acquiring an additional 600 shares during the period. Canada Pension Plan Investment Board bought a new stake in shares of Commvault Systems in the 2nd quarter worth approximately $135,000. Securian Asset Management Inc lifted its position in shares of Commvault Systems by 7.0% in the 3rd quarter. Securian Asset Management Inc now owns 4,505 shares of the software maker’s stock worth $184,000 after acquiring an additional 293 shares during the period. Finally, Trexquant Investment LP bought a new stake in shares of Commvault Systems in the 3rd quarter worth approximately $209,000. Institutional investors own 89.96% of the company’s stock.
A number of brokerages have recently issued reports on CVLT. Lake Street Capital increased their target price on Commvault Systems from $52.00 to $54.00 and gave the stock a “buy” rating in a report on Wednesday, October 28th. Royal Bank of Canada reissued a “hold” rating and issued a $48.00 target price on shares of Commvault Systems in a report on Thursday, July 30th. Jefferies Financial Group increased their target price on Commvault Systems from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. Needham & Company LLC reissued a “buy” rating and issued a $56.00 target price on shares of Commvault Systems in a report on Tuesday, July 28th. Finally, BidaskClub raised Commvault Systems from a “strong sell” rating to a “sell” rating in a report on Saturday, September 19th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. Commvault Systems presently has a consensus rating of “Hold” and an average price target of $51.50.
In other news, CFO Brian Carolan sold 12,969 shares of Commvault Systems stock in a transaction on Thursday, October 8th. The stock was sold at an average price of $42.74, for a total value of $554,295.06. Following the completion of the sale, the chief financial officer now directly owns 164,721 shares of the company’s stock, valued at approximately $7,040,175.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 12.00% of the company’s stock.
CVLT stock opened at $47.43 on Friday. The business has a fifty day moving average price of $42.82 and a 200 day moving average price of $40.86. Commvault Systems, Inc. has a fifty-two week low of $24.26 and a fifty-two week high of $51.90. The stock has a market capitalization of $2.24 billion, a price-to-earnings ratio of -71.86 and a beta of 0.65.
Commvault Systems (NASDAQ:CVLT) last released its quarterly earnings results on Tuesday, October 27th. The software maker reported $0.45 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.39. Commvault Systems had a positive return on equity of 4.52% and a negative net margin of 4.47%. The firm had revenue of $171.14 million during the quarter, compared to analysts’ expectations of $164.69 million. During the same period last year, the firm posted $0.42 EPS. The business’s revenue was up 2.1% on a year-over-year basis. As a group, equities research analysts forecast that Commvault Systems, Inc. will post 0.68 earnings per share for the current year.
Commvault Systems Profile
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. It offers Commvault Complete Backup & Recovery, a backup and recovery solution for enterprises; and Commvault HyperScale Technology, an add-on for Commvault Complete that delivers an on-premises, cloud-like infrastructure to support scale-out secondary storage.
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