Northern Trust Corp Raises Holdings in CommVault Systems, Inc. (CVLT)

Northern Trust Corp raised its position in shares of CommVault Systems, Inc. (NASDAQ:CVLT) by 0.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 645,252 shares of the software maker’s stock after acquiring an additional 3,522 shares during the period. Northern Trust Corp owned approximately 1.41% of CommVault Systems worth $38,128,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of CVLT. First Mercantile Trust Co. purchased a new stake in CommVault Systems in the fourth quarter worth about $117,000. Quantamental Technologies LLC purchased a new stake in shares of CommVault Systems during the fourth quarter valued at about $120,000. LS Investment Advisors LLC lifted its position in shares of CommVault Systems by 71.7% during the fourth quarter. LS Investment Advisors LLC now owns 3,835 shares of the software maker’s stock valued at $227,000 after buying an additional 1,601 shares during the last quarter. US Bancorp DE lifted its position in shares of CommVault Systems by 34.3% during the third quarter. US Bancorp DE now owns 5,109 shares of the software maker’s stock valued at $357,000 after buying an additional 1,306 shares during the last quarter. Finally, SG Americas Securities LLC lifted its position in shares of CommVault Systems by 29.9% during the fourth quarter. SG Americas Securities LLC now owns 6,098 shares of the software maker’s stock valued at $360,000 after buying an additional 1,403 shares during the last quarter. Institutional investors and hedge funds own 90.90% of the company’s stock.

In other news, insider Gary Merrill sold 1,385 shares of the firm’s stock in a transaction that occurred on Friday, February 15th. The shares were sold at an average price of $67.87, for a total transaction of $93,999.95. Following the sale, the insider now owns 16,152 shares of the company’s stock, valued at approximately $1,096,236.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Al Bunte sold 64,167 shares of the firm’s stock in a transaction that occurred on Thursday, February 14th. The stock was sold at an average price of $67.82, for a total transaction of $4,351,805.94. Following the sale, the chief operating officer now directly owns 486,177 shares in the company, valued at approximately $32,972,524.14. The disclosure for this sale can be found here. Insiders have sold a total of 73,052 shares of company stock worth $4,955,806 in the last ninety days. Corporate insiders own 13.40% of the company’s stock.

Several research firms have commented on CVLT. Piper Jaffray Companies lowered shares of CommVault Systems from an “overweight” rating to a “neutral” rating and set a $66.00 price target for the company. in a research report on Monday, February 11th. Lake Street Capital increased their price target on shares of CommVault Systems to $69.00 and gave the company a “buy” rating in a research report on Wednesday, January 30th. BidaskClub lowered shares of CommVault Systems from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 6th. Zacks Investment Research downgraded shares of CommVault Systems from a “buy” rating to a “hold” rating in a report on Wednesday, January 23rd. Finally, ValuEngine downgraded shares of CommVault Systems from a “buy” rating to a “hold” rating in a report on Wednesday, April 3rd. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. CommVault Systems currently has a consensus rating of “Buy” and a consensus target price of $75.00.

NASDAQ:CVLT traded up $0.44 during midday trading on Monday, hitting $63.57. The company’s stock had a trading volume of 1,228,337 shares, compared to its average volume of 496,799. CommVault Systems, Inc. has a fifty-two week low of $51.53 and a fifty-two week high of $72.65. The company has a market cap of $2.92 billion, a PE ratio of -107.75, a price-to-earnings-growth ratio of 3.08 and a beta of 1.23.

CommVault Systems (NASDAQ:CVLT) last issued its quarterly earnings results on Tuesday, January 29th. The software maker reported $0.54 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.12. CommVault Systems had a net margin of 0.57% and a return on equity of 5.78%. The company had revenue of $184.28 million for the quarter, compared to the consensus estimate of $180.66 million. During the same quarter in the prior year, the company earned $0.30 EPS. CommVault Systems’s quarterly revenue was up 2.2% on a year-over-year basis. On average, research analysts anticipate that CommVault Systems, Inc. will post 0.79 EPS for the current year.

ILLEGAL ACTIVITY WARNING: This piece of content was originally reported by Baseball Daily News and is the property of of Baseball Daily News. If you are viewing this piece of content on another website, it was stolen and republished in violation of international trademark & copyright legislation. The legal version of this piece of content can be viewed at https://www.baseballdailydigest.com/news/2019/04/15/northern-trust-corp-has-38-13-million-holdings-in-commvault-systems-inc-cvlt.html.

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.

Further Reading: Cash Flow Analysis in Stock Selection

Institutional Ownership by Quarter for CommVault Systems (NASDAQ:CVLT)

Receive News & Ratings for CommVault Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CommVault Systems and related companies with MarketBeat.com's FREE daily email newsletter.