Systematic Financial Management LP lessened its stake in shares of CommVault Systems, Inc. (NASDAQ:CVLT) by 30.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,860 shares of the software maker’s stock after selling 8,295 shares during the quarter. Systematic Financial Management LP’s holdings in CommVault Systems were worth $936,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of CVLT. Norges Bank acquired a new position in shares of CommVault Systems in the fourth quarter worth about $36,755,000. Assenagon Asset Management S.A. acquired a new position in shares of CommVault Systems in the first quarter worth about $24,847,000. State of New Jersey Common Pension Fund D acquired a new position in shares of CommVault Systems in the second quarter worth about $12,901,000. Marshall Wace LLP lifted its stake in shares of CommVault Systems by 798.4% in the first quarter. Marshall Wace LLP now owns 239,797 shares of the software maker’s stock worth $15,524,000 after acquiring an additional 213,106 shares in the last quarter. Finally, MERIAN GLOBAL INVESTORS UK Ltd lifted its stake in shares of CommVault Systems by 36.4% in the first quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 665,518 shares of the software maker’s stock worth $43,085,000 after acquiring an additional 177,690 shares in the last quarter. Institutional investors own 90.44% of the company’s stock.
Several research firms recently commented on CVLT. BidaskClub cut CommVault Systems from a “hold” rating to a “sell” rating in a research note on Wednesday. Lake Street Capital cut CommVault Systems from a “buy” rating to a “hold” rating and cut their price target for the stock from $69.00 to $60.00 in a research note on Tuesday, April 30th. Royal Bank of Canada set a $50.00 price target on CommVault Systems and gave the stock a “hold” rating in a research note on Wednesday, July 31st. Jefferies Financial Group cut their price target on CommVault Systems to $65.00 and set a “buy” rating on the stock in a research note on Tuesday, April 30th. They noted that the move was a valuation call. Finally, Mitsubishi UFJ Financial Group cut their price target on CommVault Systems from $74.00 to $67.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 30th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $62.83.
NASDAQ CVLT traded down $0.40 on Friday, hitting $43.88. 316,648 shares of the stock traded hands, compared to its average volume of 538,802. The company has a 50-day moving average price of $48.57. CommVault Systems, Inc. has a twelve month low of $41.68 and a twelve month high of $70.70. The stock has a market capitalization of $2.00 billion, a P/E ratio of 83.55, a P/E/G ratio of 11.78 and a beta of 1.16. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.91 and a quick ratio of 1.91.
CommVault Systems (NASDAQ:CVLT) last announced its quarterly earnings data on Tuesday, July 30th. The software maker reported $0.03 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.02. CommVault Systems had a return on equity of 6.57% and a net margin of 0.76%. The firm had revenue of $162.20 million for the quarter, compared to analysts’ expectations of $170.53 million. During the same quarter in the prior year, the firm posted $0.36 earnings per share. CommVault Systems’s revenue for the quarter was down 7.9% compared to the same quarter last year. Research analysts expect that CommVault Systems, Inc. will post 0.24 earnings per share for the current year.
About CommVault Systems
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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