Caisse DE Depot ET Placement DU Quebec Purchases New Stake in Commvault Systems, Inc. (NASDAQ:CVLT)

Caisse DE Depot ET Placement DU Quebec purchased a new position in shares of Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 99,215 shares of the software maker's stock, valued at approximately $15,264,000. Caisse DE Depot ET Placement DU Quebec owned about 0.23% of Commvault Systems at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. National Bank of Canada FI bought a new position in shares of Commvault Systems in the second quarter worth $30,000. Capital Performance Advisors LLP acquired a new stake in shares of Commvault Systems in the 3rd quarter valued at $33,000. Hexagon Capital Partners LLC increased its stake in shares of Commvault Systems by 124.8% in the 2nd quarter. Hexagon Capital Partners LLC now owns 353 shares of the software maker's stock valued at $43,000 after purchasing an additional 196 shares during the last quarter. Signaturefd LLC raised its holdings in shares of Commvault Systems by 70.8% during the 2nd quarter. Signaturefd LLC now owns 410 shares of the software maker's stock worth $50,000 after buying an additional 170 shares in the last quarter. Finally, Strategic Financial Concepts LLC bought a new stake in shares of Commvault Systems during the 2nd quarter worth $56,000. 93.50% of the stock is currently owned by institutional investors.

Commvault Systems Trading Down 0.4 %

CVLT stock traded down $0.74 during trading on Monday, reaching $170.85. 259,455 shares of the stock were exchanged, compared to its average volume of 357,193. Commvault Systems, Inc. has a twelve month low of $73.33 and a twelve month high of $178.72. The firm's 50 day moving average is $158.79 and its 200 day moving average is $140.93. The firm has a market cap of $7.47 billion, a P/E ratio of 43.25 and a beta of 0.59.

Commvault Systems (NASDAQ:CVLT - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The software maker reported $0.83 EPS for the quarter, beating analysts' consensus estimates of $0.76 by $0.07. The business had revenue of $233.28 million during the quarter, compared to analyst estimates of $220.76 million. Commvault Systems had a net margin of 19.75% and a return on equity of 31.62%. Commvault Systems's quarterly revenue was up 16.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.30 EPS. As a group, analysts predict that Commvault Systems, Inc. will post 1.66 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CVLT has been the subject of a number of research reports. Guggenheim cut shares of Commvault Systems from a "buy" rating to a "neutral" rating in a report on Tuesday, October 15th. Royal Bank of Canada raised their target price on shares of Commvault Systems from $164.00 to $182.00 and gave the company a "sector perform" rating in a research report on Wednesday, October 30th. DA Davidson increased their price target on Commvault Systems from $170.00 to $175.00 and gave the company a "buy" rating in a research note on Friday, September 6th. StockNews.com lowered Commvault Systems from a "strong-buy" rating to a "buy" rating in a research report on Friday, November 1st. Finally, Oppenheimer initiated coverage on Commvault Systems in a research report on Wednesday, November 13th. They issued an "outperform" rating and a $200.00 target price for the company. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $151.25.

Insider Activity at Commvault Systems

In other news, insider Gary Merrill sold 1,523 shares of Commvault Systems stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $164.89, for a total transaction of $251,127.47. Following the completion of the sale, the insider now owns 93,007 shares in the company, valued at approximately $15,335,924.23. This trade represents a 1.61 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Sanjay Mirchandani sold 10,775 shares of the company's stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $165.30, for a total transaction of $1,781,107.50. Following the completion of the transaction, the chief executive officer now owns 459,969 shares in the company, valued at approximately $76,032,875.70. This trade represents a 2.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is owned by insiders.

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.