Wells Fargo & Company MN reduced its holdings in CommVault Systems, Inc. (NASDAQ:CVLT) by 7.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 558,735 shares of the software maker’s stock after selling 44,040 shares during the period. Wells Fargo & Company MN owned about 1.22% of CommVault Systems worth $36,794,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in the company. Public Employees Retirement Association of Colorado lifted its stake in shares of CommVault Systems by 28.4% in the 1st quarter. Public Employees Retirement Association of Colorado now owns 167,415 shares of the software maker’s stock valued at $9,576,000 after purchasing an additional 37,042 shares during the period. Swiss National Bank lifted its stake in shares of CommVault Systems by 2.7% in the 1st quarter. Swiss National Bank now owns 75,600 shares of the software maker’s stock valued at $4,324,000 after purchasing an additional 2,000 shares during the period. MUFG Securities EMEA plc acquired a new position in shares of CommVault Systems in the 2nd quarter valued at $12,512,000. Toronto Dominion Bank acquired a new position in shares of CommVault Systems in the 1st quarter valued at $8,578,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of CommVault Systems in the 2nd quarter valued at $1,498,000. 90.84% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts recently issued reports on the stock. BidaskClub cut shares of CommVault Systems from a “hold” rating to a “sell” rating in a research note on Tuesday. Wells Fargo & Co boosted their target price on shares of CommVault Systems from $75.00 to $80.00 and gave the company an “outperform” rating in a research note on Thursday, June 7th. Jefferies Financial Group boosted their target price on shares of CommVault Systems to $80.00 and gave the company a “buy” rating in a research note on Tuesday, May 1st. ValuEngine cut shares of CommVault Systems from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, Zacks Investment Research upgraded shares of CommVault Systems from a “hold” rating to a “strong-buy” rating and set a $74.00 price objective for the company in a research report on Friday, July 27th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $75.56.
NASDAQ:CVLT opened at $64.70 on Tuesday. The firm has a market cap of $2.97 billion, a price-to-earnings ratio of -109.66, a P/E/G ratio of 8.13 and a beta of 1.12. CommVault Systems, Inc. has a fifty-two week low of $48.35 and a fifty-two week high of $72.65.
CommVault Systems (NASDAQ:CVLT) last posted its quarterly earnings data on Tuesday, July 24th. The software maker reported $0.36 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.09. The company had revenue of $176.18 million during the quarter, compared to analysts’ expectations of $177.92 million. CommVault Systems had a negative net margin of 9.89% and a positive return on equity of 0.72%. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.21 earnings per share. equities analysts predict that CommVault Systems, Inc. will post 0.5 EPS for the current fiscal year.
In other news, SVP Ronald L. Miiller sold 101,521 shares of the stock in a transaction dated Thursday, July 26th. The shares were sold at an average price of $65.34, for a total value of $6,633,382.14. Following the completion of the sale, the senior vice president now directly owns 140,666 shares in the company, valued at $9,191,116.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Brian Carolan sold 5,484 shares of the stock in a transaction dated Wednesday, June 13th. The shares were sold at an average price of $71.90, for a total transaction of $394,299.60. Following the completion of the sale, the vice president now owns 102,796 shares of the company’s stock, valued at $7,391,032.40. The disclosure for this sale can be found here. Insiders have sold 141,518 shares of company stock valued at $9,455,463 over the last 90 days. 13.40% of the stock is currently owned by company insiders.
CommVault Systems Company 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. The company offers data protection, backup, and recovery software solutions for the backup of databases, files, applications, endpoints, and virtual machines according to data type and recovery profile; and help to optimize storage with deduplication, recover data, and leverage reports.
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