Commvault Systems, Inc. (NASDAQ:CVLT) Shares Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Commvault Systems, Inc. (NASDAQ:CVLT) by 2.3% in the fourth quarter, Holdings Channel reports. The firm owned 19,839 shares of the software maker’s stock after buying an additional 455 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Commvault Systems were worth $1,584,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CVLT. Vanguard Group Inc. grew its position in Commvault Systems by 2.7% in the 3rd quarter. Vanguard Group Inc. now owns 5,426,814 shares of the software maker’s stock valued at $366,907,000 after acquiring an additional 144,625 shares in the last quarter. Lazard Asset Management LLC grew its position in Commvault Systems by 27.6% in the 3rd quarter. Lazard Asset Management LLC now owns 70,516 shares of the software maker’s stock valued at $4,766,000 after acquiring an additional 15,249 shares in the last quarter. Tudor Investment Corp Et Al acquired a new position in Commvault Systems in the 3rd quarter valued at about $2,611,000. Qube Research & Technologies Ltd acquired a new position in Commvault Systems in the 3rd quarter valued at about $2,974,000. Finally, Quantedge Capital Pte Ltd grew its position in Commvault Systems by 791.7% in the 3rd quarter. Quantedge Capital Pte Ltd now owns 53,500 shares of the software maker’s stock valued at $3,617,000 after acquiring an additional 47,500 shares in the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

Commvault Systems Stock Performance

Shares of Commvault Systems stock opened at $94.87 on Friday. Commvault Systems, Inc. has a one year low of $56.76 and a one year high of $102.21. The company has a market cap of $4.15 billion, a PE ratio of -3,161.28 and a beta of 0.62. The business has a 50-day simple moving average of $97.12 and a 200-day simple moving average of $82.87.

Commvault Systems (NASDAQ:CVLT) last posted its earnings results on Tuesday, January 30th. The software maker reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.05. The firm had revenue of $216.81 million during the quarter, compared to analysts’ expectations of $208.01 million. Commvault Systems had a positive return on equity of 32.27% and a negative net margin of 0.09%. The firm’s revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.17 earnings per share. On average, sell-side analysts predict that Commvault Systems, Inc. will post 1.35 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Sanjay Mirchandani sold 21,494 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $97.82, for a total transaction of $2,102,543.08. Following the completion of the sale, the chief executive officer now owns 399,356 shares in the company, valued at $39,065,003.92. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Sanjay Mirchandani sold 21,494 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $97.82, for a total transaction of $2,102,543.08. Following the completion of the sale, the chief executive officer now owns 399,356 shares in the company, valued at $39,065,003.92. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Gary Merrill sold 822 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $97.25, for a total value of $79,939.50. Following the sale, the chief financial officer now owns 87,945 shares of the company’s stock, valued at approximately $8,552,651.25. The disclosure for this sale can be found here. Insiders sold a total of 23,306 shares of company stock worth $2,276,265 over the last 90 days. 1.00% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have weighed in on CVLT. Royal Bank of Canada lifted their target price on Commvault Systems from $86.00 to $97.00 and gave the company a “sector perform” rating in a research report on Wednesday, January 31st. KeyCorp raised Commvault Systems from a “sector weight” rating to an “overweight” rating and set a $109.00 price objective for the company in a research report on Wednesday, January 31st. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Commvault Systems has a consensus rating of “Moderate Buy” and an average price target of $85.60.

Commvault Systems Profile

Commvault Systems, Inc provides data protection platform that helps customers to secure, defend, and recover their data in the United States and internationally. The company offers Commvault Backup and Recovery, a backup and recovery solution; Commvault Disaster Recovery, a replication and disaster recovery solution; Commvault Complete Data Protection, a data protection solution; and Metallic Data Protection as-a-service, which delivers enterprise-grade data protection as a service on a cloud platform, with advanced built-in security controls.