17,483 Shares of CommVault Systems, Inc. $CVLT Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of CommVault Systems, Inc. (NASDAQ:CVLT) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 17,483 shares of the software maker’s stock, valued at approximately $2,621,000.

A number of other large investors have also recently made changes to their positions in CVLT. Vise Technologies Inc. grew its holdings in CommVault Systems by 1.8% during the 3rd quarter. Vise Technologies Inc. now owns 3,562 shares of the software maker’s stock valued at $534,000 after purchasing an additional 64 shares during the last quarter. Summit Global Investments raised its position in CommVault Systems by 3.9% in the 3rd quarter. Summit Global Investments now owns 3,522 shares of the software maker’s stock worth $528,000 after purchasing an additional 131 shares during the period. Choreo LLC bought a new stake in CommVault Systems in the third quarter worth about $229,000. Maxi Investments CY Ltd bought a new stake in CommVault Systems in the third quarter worth about $585,000. Finally, Fifth Third Wealth Advisors LLC bought a new stake in CommVault Systems in the third quarter worth about $213,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at CommVault Systems

In related news, CAO Danielle Abrahamsen sold 486 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $142.80, for a total value of $69,400.80. Following the completion of the sale, the chief accounting officer owned 12,160 shares in the company, valued at approximately $1,736,448. The trade was a 3.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director A. Shane Sanders sold 476 shares of the stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $134.19, for a total value of $63,874.44. Following the completion of the transaction, the director directly owned 8,696 shares in the company, valued at approximately $1,166,916.24. This trade represents a 5.19% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 29,348 shares of company stock valued at $4,202,441. 0.86% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CVLT. Oppenheimer boosted their target price on CommVault Systems from $150.00 to $175.00 and gave the company an “outperform” rating in a research report on Friday, July 17th. Wall Street Zen upgraded CommVault Systems from a “hold” rating to a “buy” rating in a report on Sunday, October 18th. FBN Securities began coverage on CommVault Systems in a research note on Thursday, September 10th. They set an “outperform” rating and a $155.00 price target for the company. Piper Sandler cut CommVault Systems from an “overweight” rating to a “neutral” rating and set a $133.00 price objective for the company. in a report on Tuesday, July 28th. Finally, Scotiabank boosted their price objective on CommVault Systems from $160.00 to $180.00 and gave the company a “sector perform” rating in a report on Wednesday, October 28th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, CommVault Systems currently has a consensus rating of “Moderate Buy” and a consensus price target of $174.00.

CommVault Systems Trading Up 0.5%

CVLT stock opened at $158.36 on Friday. The company has a market capitalization of $6.48 billion, a PE ratio of 82.05 and a beta of 0.90. CommVault Systems, Inc. has a 12 month low of $71.75 and a 12 month high of $174.25. The firm’s 50-day moving average is $150.61 and its 200 day moving average is $120.09. The company has a debt-to-equity ratio of 70.45, a current ratio of 1.94 and a quick ratio of 1.94.

CommVault Systems (NASDAQ:CVLT) last announced its quarterly earnings data on Tuesday, October 27th. The software maker reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.13. The company had revenue of $312.39 million during the quarter, compared to analyst estimates of $310.41 million. CommVault Systems had a net margin of 6.60% and a return on equity of 169.40%. The firm’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same quarter last year, the business posted $0.91 EPS. On average, research analysts anticipate that CommVault Systems, Inc. will post 2.98 EPS for the current year.

CommVault Systems Profile

Commvault Systems, Inc develops data protection and cyber resilience software and services for businesses, government organizations and other institutions. Its platform is designed to help customers back up, recover, manage and secure data across on-premises infrastructure, private and public clouds, software-as-a-service applications and other distributed IT environments.

The company’s offerings include backup and recovery, disaster recovery, data security, ransomware protection, cyber-recovery capabilities and data management tools.