17,483 Shares of CommVault Systems, Inc. $CVLT Bought by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. acquired a new position in CommVault Systems, Inc. (NASDAQ:CVLT) in the third quarter, HoldingsChannel reports. The fund acquired 17,483 shares of the software maker’s stock, valued at approximately $2,621,000.

A number of other hedge funds also recently added to or reduced their stakes in CVLT. Vise Technologies Inc. raised its holdings in shares of CommVault Systems by 1.8% in the 3rd quarter. Vise Technologies Inc. now owns 3,562 shares of the software maker’s stock valued at $534,000 after purchasing an additional 64 shares in the last quarter. Summit Global Investments lifted its position in shares of CommVault Systems by 3.9% in the 3rd quarter. Summit Global Investments now owns 3,522 shares of the software maker’s stock worth $528,000 after purchasing an additional 131 shares during the period. Choreo LLC bought a new position in shares of CommVault Systems during the third quarter valued at approximately $229,000. Maxi Investments CY Ltd bought a new position in shares of CommVault Systems during the third quarter valued at approximately $585,000. Finally, Fifth Third Wealth Advisors LLC bought a new position in shares of CommVault Systems during the third quarter valued at approximately $213,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other CommVault Systems news, CAO Danielle Abrahamsen sold 486 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $142.80, for a total value of $69,400.80. Following the completion of the sale, the chief accounting officer directly owned 12,160 shares in the company, valued at $1,736,448. This trade represents a 3.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Gary Merrill sold 1,854 shares of CommVault Systems stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $143.64, for a total transaction of $266,308.56. Following the completion of the transaction, the chief financial officer directly owned 70,921 shares in the company, valued at $10,187,092.44. This represents a 2.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 29,348 shares of company stock worth $4,202,441 over the last 90 days. 0.86% of the stock is currently owned by insiders.

CommVault Systems Stock Performance

CVLT stock opened at $158.36 on Friday. The firm has a market cap of $6.48 billion, a price-to-earnings ratio of 82.05 and a beta of 0.90. The firm has a 50-day simple moving average of $150.61 and a two-hundred day simple moving average of $120.09. CommVault Systems, Inc. has a one year low of $71.75 and a one year high of $174.25. The company has a debt-to-equity ratio of 70.45, a quick ratio of 1.94 and a current ratio of 1.94.

CommVault Systems (NASDAQ:CVLT) last released its quarterly earnings results on Tuesday, October 27th. The software maker reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.13. CommVault Systems had a net margin of 6.60% and a return on equity of 169.40%. The business had revenue of $312.39 million for the quarter, compared to analysts’ expectations of $310.41 million. During the same period last year, the business earned $0.91 EPS. The company’s revenue was up 13.1% compared to the same quarter last year. On average, equities analysts forecast that CommVault Systems, Inc. will post 2.98 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. KeyCorp lifted their price objective on shares of CommVault Systems from $175.00 to $200.00 and gave the company an “overweight” rating in a report on Wednesday, October 28th. Guggenheim upped their target price on CommVault Systems from $175.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, October 28th. Wells Fargo & Company increased their target price on CommVault Systems from $155.00 to $185.00 and gave the company an “overweight” rating in a research report on Wednesday, October 28th. Scotiabank lifted their price target on CommVault Systems from $160.00 to $180.00 and gave the company a “sector perform” rating in a report on Wednesday, October 28th. Finally, DA Davidson lifted their price target on CommVault Systems from $185.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, October 28th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $174.00.

CommVault Systems Company Profile

Commvault Systems, Inc develops data protection and cyber resilience software and services for businesses, government organizations and other institutions. Its platform is designed to help customers back up, recover, manage and secure data across on-premises infrastructure, private and public clouds, software-as-a-service applications and other distributed IT environments.

The company’s offerings include backup and recovery, disaster recovery, data security, ransomware protection, cyber-recovery capabilities and data management tools.