CommVault Systems, Inc. (CVLT) Shares Bought by Victory Capital Management Inc.
Victory Capital Management Inc. raised its holdings in CommVault Systems, Inc. (NASDAQ:CVLT) by 21.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 819,388 shares of the software maker’s stock after acquiring an additional 142,611 shares during the quarter. Victory Capital Management Inc.’s holdings in CommVault Systems were worth $43,018,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Cornerstone Capital Management Holdings LLC. boosted its position in CommVault Systems by 72.3% in the 3rd quarter. Cornerstone Capital Management Holdings LLC. now owns 74,100 shares of the software maker’s stock valued at $4,505,000 after buying an additional 31,100 shares during the period. Cortina Asset Management LLC boosted its position in CommVault Systems by 6.1% in the 3rd quarter. Cortina Asset Management LLC now owns 516,158 shares of the software maker’s stock valued at $31,382,000 after buying an additional 29,894 shares during the period. Ashford Capital Management Inc. purchased a new position in CommVault Systems in the 3rd quarter valued at approximately $8,306,000. Bank of New York Mellon Corp boosted its position in CommVault Systems by 36.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,779,168 shares of the software maker’s stock valued at $108,173,000 after buying an additional 479,659 shares during the period. Finally, FMR LLC purchased a new position in CommVault Systems in the 2nd quarter valued at approximately $28,624,000. 90.84% of the stock is owned by institutional investors.
In related news, Director Gary B. Smith sold 7,500 shares of CommVault Systems stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $53.50, for a total transaction of $401,250.00. Following the sale, the director now directly 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 through this hyperlink. Also, Director David F. Walker sold 5,500 shares of CommVault Systems stock in a transaction on Monday, January 29th. The stock was sold at an average price of $55.48, for a total transaction of $305,140.00. Following the sale, the director now owns 42,850 shares in the company, valued at $2,377,318. The disclosure for this sale can be found here. Insiders have sold a total of 16,335 shares of company stock worth $887,814 over the last quarter. 13.40% of the stock is owned by company insiders.
CommVault Systems (NASDAQ:CVLT) last announced 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 analyst estimates of $182.01 million. During the same quarter in the previous 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. research analysts forecast that CommVault Systems, Inc. will post 0.03 earnings per share for the current fiscal year.
CommVault Systems announced that its Board of Directors has approved a stock buyback program on Wednesday, January 24th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the software maker to purchase shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
CVLT has been the subject of several recent research reports. BidaskClub raised shares of CommVault Systems from a “strong sell” rating to a “sell” rating in a research report on Thursday, January 4th. Wells Fargo & Co initiated coverage on shares of CommVault Systems in a research report on Tuesday, November 14th. They issued an “outperform” rating and a $64.00 price target for the company. Zacks Investment Research cut shares of CommVault Systems from a “hold” rating to a “strong sell” rating in a research report on Friday, October 27th. Mizuho reissued a “buy” rating and issued a $75.00 price target on shares of CommVault Systems in a research report on Wednesday, January 17th. Finally, Jefferies Group reissued a “buy” rating on shares of CommVault Systems in a research report on Thursday, October 26th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company. CommVault Systems currently has an average rating of “Hold” and an average target price of $69.78.
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CommVault Systems Company 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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