Bank Julius Baer & Co. Ltd Zurich acquired a new position in Commvault Systems, Inc. (NASDAQ:CVLT) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 10,596 shares of the software maker’s stock, valued at approximately $432,000.
Several other large investors have also added to or reduced their stakes in CVLT. Nisa Investment Advisors LLC increased its stake in shares of Commvault Systems by 40.8% in the second quarter. Nisa Investment Advisors LLC now owns 2,069 shares of the software maker’s stock worth $80,000 after acquiring an additional 600 shares during the period. Advisor Group Holdings Inc. acquired a new stake in shares of Commvault Systems in the first quarter worth $83,000. Canada Pension Plan Investment Board acquired a new stake in shares of Commvault Systems in the second quarter worth $135,000. Securian Asset Management Inc increased its stake in shares of Commvault Systems by 7.0% in the third quarter. Securian Asset Management Inc now owns 4,505 shares of the software maker’s stock worth $184,000 after acquiring an additional 293 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. acquired a new stake in shares of Commvault Systems in the third quarter worth $200,000. Hedge funds and other institutional investors own 89.96% of the company’s stock.
Shares of NASDAQ CVLT opened at $47.43 on Friday. The company’s 50-day simple moving average is $42.82 and its 200-day simple moving average is $40.86. Commvault Systems, Inc. has a 52-week low of $24.26 and a 52-week high of $51.90. The firm has a market cap of $2.24 billion, a price-to-earnings ratio of -71.86 and a beta of 0.65.
Commvault Systems (NASDAQ:CVLT) last announced its earnings results on Tuesday, October 27th. The software maker reported $0.45 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.39. Commvault Systems had a negative net margin of 4.47% and a positive return on equity of 4.52%. The business had revenue of $171.14 million for the quarter, compared to analyst estimates of $164.69 million. During the same quarter last year, the business earned $0.42 earnings per share. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. Equities analysts expect that Commvault Systems, Inc. will post 0.68 EPS for the current fiscal year.
Several analysts recently commented on the stock. Jefferies Financial Group raised their price target on shares of Commvault Systems from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, July 29th. Royal Bank of Canada restated a “hold” rating and set a $48.00 price target on shares of Commvault Systems in a research report on Thursday, July 30th. Needham & Company LLC restated a “buy” rating and set a $56.00 price target on shares of Commvault Systems in a research report on Tuesday, July 28th. Lake Street Capital raised their price target on shares of Commvault Systems from $52.00 to $54.00 and gave the company a “buy” rating in a research report on Wednesday, October 28th. Finally, BidaskClub upgraded shares of Commvault Systems from a “strong sell” rating to a “sell” rating in a research report on Saturday, September 19th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. Commvault Systems currently has an average rating of “Hold” and an average target price of $51.50.
In other news, CFO Brian Carolan sold 12,969 shares of Commvault Systems stock in a transaction dated Thursday, October 8th. The shares were sold at an average price of $42.74, for a total value of $554,295.06. Following the sale, the chief financial officer now owns 164,721 shares in the company, valued at $7,040,175.54. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 12.00% of the stock is owned by company insiders.
Commvault Systems 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. It offers Commvault Complete Backup & Recovery, a backup and recovery solution for enterprises; and Commvault HyperScale Technology, an add-on for Commvault Complete that delivers an on-premises, cloud-like infrastructure to support scale-out secondary storage.
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