Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Commvault (NASDAQ:CVLT) by 572.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 17,974 shares of the software maker’s stock after buying an additional 15,300 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Commvault were worth $1,028,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of the stock. Westpac Banking Corp increased its holdings in Commvault by 31.4% during the 1st quarter. Westpac Banking Corp now owns 117,300 shares of the software maker’s stock worth $6,710,000 after purchasing an additional 28,000 shares in the last quarter. Public Employees Retirement Association of Colorado increased its holdings in Commvault by 28.4% during the 1st quarter. Public Employees Retirement Association of Colorado now owns 167,415 shares of the software maker’s stock worth $9,576,000 after purchasing an additional 37,042 shares in the last quarter. Alps Advisors Inc. increased its holdings in Commvault by 78.0% during the 1st quarter. Alps Advisors Inc. now owns 15,595 shares of the software maker’s stock worth $892,000 after purchasing an additional 6,834 shares in the last quarter. Wells Fargo & Company MN increased its holdings in Commvault by 10.6% during the 1st quarter. Wells Fargo & Company MN now owns 602,775 shares of the software maker’s stock worth $34,478,000 after purchasing an additional 57,560 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH increased its holdings in Commvault by 9.1% during the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 319,741 shares of the software maker’s stock worth $18,289,000 after purchasing an additional 26,800 shares in the last quarter. 88.03% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director Robert F. Kurimsky sold 7,500 shares of the firm’s stock in a transaction dated Thursday, March 1st. The shares were sold at an average price of $50.32, for a total value of $377,400.00. Following the completion of the sale, the director now directly owns 62,339 shares in the company, valued at approximately $3,136,898.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Al Bunte sold 70,000 shares of the firm’s stock in a transaction dated Friday, March 2nd. The shares were sold at an average price of $50.74, for a total transaction of $3,551,800.00. The disclosure for this sale can be found here. Insiders sold a total of 420,062 shares of company stock valued at $23,632,572 over the last quarter. 13.40% of the stock is currently owned by company insiders.
A number of research firms have issued reports on CVLT. Lake Street Capital set a $70.00 target price on Commvault and gave the stock a “buy” rating in a report on Tuesday, April 3rd. Zacks Investment Research upgraded Commvault from a “sell” rating to a “hold” rating in a report on Friday, March 9th. ValuEngine upgraded Commvault from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. Jefferies Group raised their price objective on Commvault to $80.00 and gave the company a “buy” rating in a report on Tuesday, May 1st. Finally, Mizuho restated a “buy” rating and issued a $75.00 price objective on shares of Commvault in a report on Tuesday, January 23rd. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $74.60.
Shares of NASDAQ CVLT opened at $68.10 on Friday. Commvault has a fifty-two week low of $48.35 and a fifty-two week high of $71.45.
Commvault (NASDAQ:CVLT) last announced its quarterly earnings data on Tuesday, May 1st. The software maker reported $0.31 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by ($0.02). Commvault had a negative net margin of 8.85% and a negative return on equity of 0.12%. The company had revenue of $184.90 million during the quarter, compared to the consensus estimate of $187.01 million. During the same quarter in the previous year, the business earned $0.29 EPS. Commvault’s revenue was up 10.9% on a year-over-year basis. equities research analysts anticipate that Commvault will post 0.34 EPS for the current fiscal year.
Commvault announced that its Board of Directors has initiated a stock buyback plan on Wednesday, January 24th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the software maker to purchase shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.
Commvault Company Profile
Commvault Systems, Inc provides data and information management software applications and related services in the United States and internationally. The company's software suite contains solutions that are built on a single unified code base and platform to protect, manage, and access data and information.
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