Arizona State Retirement System boosted its position in shares of CommVault Systems, Inc. (NASDAQ:CVLT) by 29.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 30,919 shares of the software maker’s stock after acquiring an additional 6,958 shares during the quarter. Arizona State Retirement System’s holdings in CommVault Systems were worth $1,623,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Magnetar Financial LLC bought a new stake in CommVault Systems during the 3rd quarter worth approximately $201,000. Teacher Retirement System of Texas bought a new stake in CommVault Systems during the 3rd quarter worth approximately $215,000. Crossmark Global Holdings Inc. bought a new stake in CommVault Systems during the 3rd quarter worth approximately $307,000. Stoneridge Investment Partners LLC bought a new stake in CommVault Systems during the 4th quarter worth approximately $291,000. Finally, ING Groep NV raised its stake in CommVault Systems by 25.0% during the 4th quarter. ING Groep NV now owns 6,481 shares of the software maker’s stock worth $340,000 after acquiring an additional 1,297 shares during the period. Institutional investors own 90.07% of the company’s stock.
In related news, insider Al Bunte sold 70,000 shares of the business’s stock in a transaction on Friday, March 2nd. The shares were sold at an average price of $50.74, for a total value of $3,551,800.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman N Robert Hammer sold 187,502 shares of the business’s stock in a transaction on Friday, March 2nd. The stock was sold at an average price of $50.73, for a total transaction of $9,511,976.46. The disclosure for this sale can be found here. Insiders sold 289,737 shares of company stock worth $14,770,440 in the last 90 days. 13.40% of the stock is currently owned by company insiders.
Shares of CommVault Systems, Inc. (NASDAQ:CVLT) opened at $55.15 on Wednesday. CommVault Systems, Inc. has a 1 year low of $48.30 and a 1 year high of $64.60.
CommVault Systems (NASDAQ:CVLT) last announced its quarterly earnings results on Wednesday, January 24th. The software maker reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.01). CommVault Systems had a positive return on equity of 0.32% and a negative net margin of 8.30%. The business had revenue of $180.37 million during the quarter, compared to the consensus estimate of $182.01 million. During the same quarter in the prior year, the firm posted $0.28 EPS. The company’s revenue for the quarter was up 8.0% on a year-over-year basis. research analysts predict that CommVault Systems, Inc. will post 0.03 earnings per share for the current fiscal year.
CommVault Systems announced that its Board of Directors has authorized a stock repurchase program on Wednesday, January 24th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the software maker to reacquire shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.
CommVault Systems Profile
Commvault Systems, Inc (Commvault) is a provider of data and information management software applications and related services. 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 solutions supporting all operating systems, applications, and databases on virtual and physical servers, Network Attached Storage (NAS) shares, cloud-based infrastructures, and mobile devices; management through a single console; multiple protection methods, including backup and archive, snapshot management, replication, and content indexing for eDiscovery; storage management using deduplication for disk, tape and cloud; integration with the storage arrays; complete virtual infrastructure management supporting multiple hypervisors; security capabilities to limit access to critical data, and policy-based data management.
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