Retirement Systems of Alabama decreased its stake in CommVault Systems Inc. (NASDAQ:CVLT) by 7.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 478,053 shares of the company’s stock after selling 41,111 shares during the period. Retirement Systems of Alabama’s holdings in CommVault Systems were worth $20,647,000 as of its most recent filing with the SEC.
Several other large investors have also recently bought and sold shares of the company. Champlain Investment Partners LLC increased its position in CommVault Systems by 222.9% in the first quarter. Champlain Investment Partners LLC now owns 700,075 shares of the company’s stock valued at $30,222,000 after buying an additional 483,290 shares during the period. Orbis Allan Gray Ltd bought a new position in CommVault Systems during the first quarter valued at $13,761,000. RS Investment Management Co. LLC increased its position in CommVault Systems by 20.7% in the second quarter. RS Investment Management Co. LLC now owns 1,650,622 shares of the company’s stock valued at $71,290,000 after buying an additional 282,705 shares during the period. Bank of Montreal Can bought a new position in CommVault Systems during the second quarter valued at $8,231,000. Finally, Kennedy Capital Management Inc. bought a new position in CommVault Systems during the first quarter valued at $4,585,000. 91.50% of the stock is currently owned by institutional investors and hedge funds.
CommVault Systems Inc. (NASDAQ:CVLT) traded down 1.83% during trading on Thursday, hitting $52.52. 217,195 shares of the company were exchanged. CommVault Systems Inc. has a 12 month low of $29.41 and a 12 month high of $53.84. The company’s market capitalization is $2.33 billion. The company has a 50-day moving average of $52.20 and a 200-day moving average of $46.49.
CommVault Systems (NASDAQ:CVLT) last announced its earnings results on Tuesday, July 26th. The company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.04. The company earned $152.40 million during the quarter, compared to analysts’ expectations of $149.15 million. CommVault Systems had a negative net margin of 0.10% and a negative return on equity of 1.33%. The firm’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.12 earnings per share. Analysts forecast that CommVault Systems Inc. will post $0.96 EPS for the current year.
Several research analysts recently weighed in on CVLT shares. JMP Securities restated a “buy” rating on shares of CommVault Systems in a research report on Wednesday, August 31st. Mizuho increased their price objective on shares of CommVault Systems from $50.00 to $56.00 and gave the company a “buy” rating in a report on Tuesday, July 26th. Jefferies Group increased their price objective on shares of CommVault Systems from $52.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, July 27th. RBC Capital Markets set a $54.00 price objective on shares of CommVault Systems and gave the company a “hold” rating in a report on Wednesday, July 27th. Finally, Zacks Investment Research downgraded shares of CommVault Systems from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 5th. Seven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $49.79.
In other CommVault Systems news, SVP Ronald L. Miiller sold 31,727 shares of CommVault Systems stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $50.44, for a total transaction of $1,600,309.88. Following the completion of the transaction, the senior vice president now owns 156,649 shares in the company, valued at $7,901,375.56. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 13.60% of the company’s stock.
CommVault Systems Company Profile
CommVault Systems, Inc (CommVault) is a provider of data and information management software applications and related services. The Company develops market and sell data and information management software applications under the Simpana Software brand. 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, including backup and recovery; data migration and archiving; snapshot management and replication of data; integrated source, and target data deduplication; eDiscovery and compliance solutions; self-service access; a secure virtual repository using simpana contentStore; enterprise-wide search capabilities; protection, recovery and discovery of data in virtual server and cloud environments; and robust built-in analytics and troubleshooting tools.
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