UBS Asset Management Americas Inc. Has $2.71 Million Stock Position in Commvault Systems, Inc. (NASDAQ:CVLT)


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UBS Asset Management Americas Inc. reduced its position in Commvault Systems, Inc. (NASDAQ:CVLT) by 1.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 48,850 shares of the software maker’s stock after selling 581 shares during the quarter. UBS Asset Management Americas Inc. owned approximately 0.10% of Commvault Systems worth $2,705,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Centaurus Financial Inc. bought a new position in Commvault Systems in the fourth quarter worth $113,000. Benjamin F. Edwards & Company Inc. lifted its position in Commvault Systems by 360.0% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 2,613 shares of the software maker’s stock worth $145,000 after purchasing an additional 2,045 shares during the period. Group One Trading L.P. bought a new position in Commvault Systems in the fourth quarter worth $170,000. Nisa Investment Advisors LLC lifted its position in Commvault Systems by 12.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 3,589 shares of the software maker’s stock worth $199,000 after purchasing an additional 400 shares during the period. Finally, Truist Financial Corp bought a new position in Commvault Systems in the fourth quarter worth $204,000. 91.39% of the stock is owned by hedge funds and other institutional investors.

In other news, CFO Brian Carolan sold 7,500 shares of the company’s stock in a transaction that occurred on Thursday, January 28th. The stock was sold at an average price of $61.90, for a total transaction of $464,250.00. Following the sale, the chief financial officer now owns 157,457 shares in the company, valued at approximately $9,746,588.30. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Sanjay Mirchandani sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, March 5th. The stock was sold at an average price of $60.50, for a total value of $302,500.00. Following the sale, the chief executive officer now owns 286,556 shares in the company, valued at approximately $17,336,638. The disclosure for this sale can be found here. Insiders sold a total of 23,245 shares of company stock worth $1,482,713 in the last 90 days. Company insiders own 1.01% of the company’s stock.

Several brokerages recently commented on CVLT. Needham & Company LLC raised their target price on Commvault Systems from $60.00 to $66.00 and gave the stock a “buy” rating in a research report on Monday, January 25th. Royal Bank of Canada lifted their price objective on Commvault Systems from $48.00 to $57.00 in a report on Thursday, January 28th. Wells Fargo & Company lifted their price objective on Commvault Systems from $55.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, January 28th. Lake Street Capital lifted their price objective on Commvault Systems from $54.00 to $68.00 and gave the company a “buy” rating in a report on Thursday, January 28th. Finally, KeyCorp lifted their price objective on Commvault Systems from $67.00 to $70.00 and gave the company an “overweight” rating in a report on Thursday, January 28th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $65.38.

NASDAQ CVLT opened at $68.46 on Friday. The stock has a market capitalization of $3.22 billion, a price-to-earnings ratio of -103.73, a PEG ratio of 8.17 and a beta of 0.79. The stock’s 50 day moving average price is $65.84 and its two-hundred day moving average price is $56.59. Commvault Systems, Inc. has a 52 week low of $34.42 and a 52 week high of $72.33.

Commvault Systems (NASDAQ:CVLT) last released its earnings results on Tuesday, January 26th. The software maker reported $0.57 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.10. The firm had revenue of $188.00 million for the quarter, compared to analysts’ expectations of $175.57 million. Commvault Systems had a positive return on equity of 4.52% and a negative net margin of 4.47%. The business’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.47 EPS. Sell-side analysts forecast that Commvault Systems, Inc. will post 0.7 earnings per share for the current fiscal 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. 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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Institutional Ownership by Quarter for Commvault Systems (NASDAQ:CVLT)

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