Voya Investment Management LLC, a leading investment management firm, has recently lessened its holdings in Commvault Systems, Inc. (NASDAQ:CVLT) by 24.7% during the fourth quarter of the fiscal year 2020. According to the company’s most recent filing with the Securities and Exchange Commission (SEC), Voya Investment Management LLC owned approximately 92,641 shares of Commvault Systems’ stock after selling 30,404 shares during the period in question. The firm’s stakes were valued at $5,822,000 as per its most recent SEC filing.
Commvault Systems is a global leader in providing data protection platforms that secure and recover customers’ data worldwide. It offers an array of solutions like Commvault Backup and Recovery solution for backup and recovery, Commvault Disaster Recovery solution for replication and disaster recovery services; Commvault Complete Data Protection solution that delivers top-notch data protection services to businesses worldwide. Furthermore, it also provides Metallic Data Protection-as-a-service solution that delivers enterprise-grade data protection over cloud computing systems while ensuring advanced security controls.
Recently, on Tuesday, May 2nd this year, Commvault Systems released its quarterly earnings results where it reported $0.29 EPS for the quarter which surpassed consensus estimates by $0.05 to report a positive EPS of $0.24 instead. Additionally, the company recorded revenue worth ‘$203.48 million’ compared to analysts’ expectations of ‘$197.13 million,’ which reflects strong growth figures amidst challenging times.
Despite their challenges owing to unfavorable market conditions globally – especially due to fluctuations resulting from COVID-19 across economies – Commvault Systems is expecting earnings per share (EPS) worth ‘1.02.’ It’s no doubt an indicator that this dedicated company is committed to ensuring they deliver value that not only meets but exceeds stakeholder expectations in every capacity possible.
In conclusion, Voya Investment Management LLC’s latest filings indicate an intriguing trend in their investments in Commvault Systems, but this does not deter the resilience and robustness of the United States-based company’s operations, with its formidable array of data protection and recovery services. Commvault Systems’ delivery of unprecedented results amidst challenging times is a clear indication that it remains steadfast to enhancing customer partnerships that deliver genuine growth worldwide.
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CommVault Systems, Inc.: Growth Potential and Investor Confidence in Data Protection Provider
Commvault Systems, Inc.’s fourth quarter results were indicative of the company’s growth potential. Hedge funds and institutional investors, including Ontario Teachers Pension Plan Board and AlphaCrest Capital Management LLC, have made significant changes to their positions in the data protection platform provider. Meanwhile, SG Americas Securities LLC has grown its position in Commvault Systems by 75.8% over the past quarter, boosting its holdings to a value of $892,000. This brings the total amount of institutional investments to 91.16%. The share price opened at $71.35 on NASDAQ on Friday with a market capitalization of $3.14 billion.The company’s current 12-month low stands at $50.26 and 12-month high at $72.44.CommVault continues to offer robust solutions across various product categories such as Commvault Backup and Recovery, Commvault Disaster Recovery and Metallic Data Protection as-a-service that delivers enterprise-grade data protection via cloud platform with advanced built-in security controls.
In terms of Director sales activity during Q1, Allison Pickens sold 990 shares at an average price of $62.75per share with CFO Gary Merrill selling approximately2,235 shares for an average price of $64.28.The trading strategies by insiders suggest positive sentiments for CVLT’s short- and long-term growth prospects.
The recent coverage initiated by StockNews.com gives an assurance for future growth potential for CVLT stock.Piper Sandler raised their target price from$60 to$65.These results indicate that CommVault is gearing up towards maintaining their moderate buy ratings by further diversifying their product offering and focusing on continued expansion within their multinational customer base.
CommVault’s innovative mindset serves them well in this fast-moving digital era where cyberattacks are frequent happenings across companies operating worldwide.To remain agile amidst uncertainties caused by global peak pandemic situation as far as possible offers further opportunities for CommVault Systems in growing its market share in the future with its goal to secure, defend and recover sensitive data worldwide.