Kopp Investment Advisors LLC decreased its holdings in shares of CommVault Systems, Inc. (NASDAQ:CVLT) by 3.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 52,557 shares of the software maker’s stock after selling 1,599 shares during the quarter. CommVault Systems makes up approximately 2.8% of Kopp Investment Advisors LLC’s portfolio, making the stock its 13th biggest position. Kopp Investment Advisors LLC owned approximately 0.12% of CommVault Systems worth $2,759,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of the stock. Stone Ridge Asset Management LLC purchased a new stake in CommVault Systems during the fourth quarter worth approximately $431,000. Landscape Capital Management L.L.C. purchased a new stake in CommVault Systems during the fourth quarter worth approximately $805,000. Geode Capital Management LLC lifted its stake in CommVault Systems by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 376,015 shares of the software maker’s stock worth $19,740,000 after purchasing an additional 4,189 shares during the last quarter. Lunia Capital LP purchased a new stake in CommVault Systems during the fourth quarter worth approximately $10,578,000. Finally, Mackenzie Financial Corp lifted its stake in CommVault Systems by 7.3% during the fourth quarter. Mackenzie Financial Corp now owns 1,459,688 shares of the software maker’s stock worth $76,634,000 after purchasing an additional 99,800 shares during the last quarter. Hedge funds and other institutional investors own 90.07% of the company’s stock.
In other news, insider Al Bunte sold 70,000 shares of the company’s stock in a transaction that occurred on Friday, March 2nd. The stock was sold at an average price of $50.74, for a total transaction of $3,551,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Gary Merrill sold 900 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $52.25, for a total value of $47,025.00. Following the sale, the insider now 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 quarter, insiders sold 289,737 shares of company stock valued at $14,770,440. 13.40% of the stock is owned by company insiders.
CommVault Systems (NASDAQ:CVLT) last issued its quarterly earnings data on Wednesday, January 24th. The software maker reported $0.04 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.05 by ($0.01). CommVault Systems had a negative net margin of 8.30% and a positive return on equity of 0.32%. The firm had revenue of $180.37 million during the quarter, compared to analysts’ expectations of $182.01 million. During the same quarter in the prior year, the firm posted $0.28 EPS. CommVault Systems’s quarterly revenue was up 8.0% compared to the same quarter last year. analysts expect that CommVault Systems, Inc. will post 0.03 earnings per share for the current fiscal year.
CommVault Systems announced that its board has approved a stock buyback program on Wednesday, January 24th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the software maker to reacquire shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.
Several research firms recently weighed in on CVLT. BidaskClub upgraded CommVault Systems from a “strong sell” rating to a “sell” rating in a research note on Thursday. Zacks Investment Research upgraded CommVault Systems from a “sell” rating to a “hold” rating in a research note on Friday. Wells Fargo & Co began coverage on CommVault Systems in a research note on Tuesday, November 14th. They set an “outperform” rating and a $64.00 target price for the company. Mizuho restated a “buy” rating and set a $75.00 target price on shares of CommVault Systems in a research note on Wednesday, January 17th. Finally, Lake Street Capital restated a “buy” rating and set a $58.00 target price (down previously from $60.00) on shares of CommVault Systems in a research note on Thursday, January 25th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target 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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