8,761 Shares in CommVault Systems, Inc. (CVLT) Acquired by Alps Advisors Inc.
Alps Advisors Inc. purchased a new stake in shares of CommVault Systems, Inc. (NASDAQ:CVLT) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 8,761 shares of the software maker’s stock, valued at approximately $460,000.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Public Employees Retirement Association of Colorado lifted its holdings in shares of CommVault Systems by 1,156.8% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 130,373 shares of the software maker’s stock valued at $6,845,000 after buying an additional 120,000 shares during the period. Picton Mahoney Asset Management lifted its holdings in shares of CommVault Systems by 13.0% during the 4th quarter. Picton Mahoney Asset Management now owns 28,600 shares of the software maker’s stock valued at $1,502,000 after buying an additional 3,300 shares during the period. Boston Partners bought a new position in shares of CommVault Systems during the 4th quarter valued at $2,763,000. Victory Capital Management Inc. lifted its holdings in shares of CommVault Systems by 21.1% during the 4th quarter. Victory Capital Management Inc. now owns 819,388 shares of the software maker’s stock valued at $43,018,000 after buying an additional 142,611 shares during the period. Finally, Engineers Gate Manager LP bought a new position in shares of CommVault Systems during the 4th quarter valued at $2,223,000. 91.21% of the stock is currently owned by hedge funds and other institutional investors.
In other CommVault Systems news, Director Gary B. Smith sold 7,500 shares of the stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $53.50, for a total value of $401,250.00. Following the completion of the sale, the director now owns 44,212 shares in the company, valued at approximately $2,365,342. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director David F. Walker sold 5,500 shares of the stock in a transaction on Monday, January 29th. The stock was 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 approximately $2,377,318. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,335 shares of company stock worth $887,814. 13.40% of the stock is owned by insiders.
CommVault Systems (NASDAQ:CVLT) last announced its earnings results on Wednesday, January 24th. The software maker reported $0.04 EPS for the quarter, missing the Zacks’ consensus estimate of $0.05 by ($0.01). CommVault Systems had a positive return on equity of 0.32% and a negative net margin of 8.30%. The company had revenue of $180.37 million during the quarter, compared to the consensus estimate of $182.01 million. During the same period in the prior year, the business posted $0.28 earnings per share. CommVault Systems’s revenue for the quarter was up 8.0% compared to the same quarter last year. equities analysts predict that CommVault Systems, Inc. will post 0.03 EPS for the current year.
CommVault Systems announced that its Board of Directors has initiated a share buyback program on Wednesday, January 24th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the software maker to buy shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its stock is undervalued.
Several equities analysts have recently weighed in on the company. Zacks Investment Research cut CommVault Systems from a “hold” rating to a “sell” rating in a report on Wednesday, January 10th. Mitsubishi UFJ Financial Group cut CommVault Systems from an “overweight” rating to a “neutral” rating in a report on Wednesday, October 25th. UBS Group cut CommVault Systems from an “overweight” rating to a “neutral” rating in a report on Tuesday, October 24th. Lake Street Capital reissued a “buy” rating and set a $58.00 price target (down from $60.00) on shares of CommVault Systems in a report on Thursday, January 25th. Finally, Mizuho reissued a “buy” rating and set a $75.00 price target on shares of CommVault Systems in a report on Wednesday, January 17th. Two analysts have rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $69.78.
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About CommVault Systems
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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