Metropolitan Life Insurance Co. NY Has $1.24 Million Holdings in Commvault (CVLT)

Metropolitan Life Insurance Co. NY lessened its holdings in shares of Commvault (NASDAQ:CVLT) by 64.0% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 23,522 shares of the software maker’s stock after selling 41,801 shares during the period. Metropolitan Life Insurance Co. NY’s holdings in Commvault were worth $1,235,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CVLT. Wells Fargo & Company MN grew its holdings in Commvault by 193.8% during the 4th quarter. Wells Fargo & Company MN now owns 545,215 shares of the software maker’s stock worth $28,624,000 after acquiring an additional 359,612 shares during the period. TIAA CREF Investment Management LLC grew its holdings in shares of Commvault by 92.4% in the 4th quarter. TIAA CREF Investment Management LLC now owns 457,712 shares of the software maker’s stock valued at $24,030,000 after buying an additional 219,804 shares during the period. Lunia Capital LP acquired a new position in shares of Commvault in the 4th quarter valued at $10,578,000. Bank of New York Mellon Corp grew its holdings in shares of Commvault by 9.7% in the 4th quarter. Bank of New York Mellon Corp now owns 1,951,363 shares of the software maker’s stock valued at $102,446,000 after buying an additional 172,195 shares during the period. Finally, Cambiar Investors LLC acquired a new position in shares of Commvault in the 4th quarter valued at $8,695,000. 90.07% of the stock is owned by hedge funds and other institutional investors.

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Several equities analysts have recently issued reports on CVLT shares. BidaskClub raised shares of Commvault from a “strong sell” rating to a “sell” rating in a report on Thursday, January 4th. Zacks Investment Research raised shares of Commvault from a “sell” rating to a “hold” rating in a report on Friday, March 9th. Mizuho reissued a “buy” rating and issued a $75.00 price target on shares of Commvault in a report on Wednesday, January 17th. Finally, Lake Street Capital reissued a “buy” rating and issued a $58.00 price target (down previously from $60.00) on shares of Commvault in a report on Thursday, January 25th. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $69.78.

In related news, Chairman N Robert Hammer sold 187,502 shares of the business’s stock in a transaction on Friday, March 2nd. The shares were sold at an average price of $50.73, for a total value of $9,511,976.46. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Robert F. Kurimsky sold 7,500 shares of the business’s stock in a transaction on Thursday, March 1st. The shares were sold at an average price of $50.32, for a total transaction of $377,400.00. Following the completion of the sale, the director now directly owns 62,339 shares in the company, valued at $3,136,898.48. The disclosure for this sale can be found here. Insiders sold a total of 289,737 shares of company stock worth $14,770,440 over the last ninety days. 13.40% of the stock is currently owned by insiders.

CVLT opened at $57.20 on Monday. Commvault has a 12 month low of $48.35 and a 12 month high of $64.60.

Commvault (NASDAQ:CVLT) last posted its quarterly earnings data on Wednesday, January 24th. The software maker reported $0.04 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.01). The company had revenue of $180.37 million during the quarter, compared to the consensus estimate of $182.01 million. Commvault had a negative net margin of 8.30% and a positive return on equity of 0.32%. The company’s revenue was up 8.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.28 earnings per share. research analysts forecast that Commvault will post 0.03 EPS for the current year.

Commvault announced that its board has approved a stock repurchase plan on Wednesday, January 24th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the software maker to purchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

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About Commvault

Commvault Systems, Inc provides data and information management software applications and related services in the United States and internationally. The company's software suite contains solutions that are built on a single unified code base and platform to protect, manage, and access data and information.

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Institutional Ownership by Quarter for Commvault (NASDAQ:CVLT)

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