Cerity Partners LLC Acquires Shares of 3,292 Commvault Systems, Inc. (NASDAQ:CVLT)

Cerity Partners LLC bought a new position in shares of Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 3,292 shares of the software maker's stock, valued at approximately $506,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Xponance Inc. lifted its stake in Commvault Systems by 1.3% in the 2nd quarter. Xponance Inc. now owns 6,371 shares of the software maker's stock worth $775,000 after acquiring an additional 79 shares in the last quarter. EFG Asset Management North America Corp. increased its position in Commvault Systems by 0.5% in the 2nd quarter. EFG Asset Management North America Corp. now owns 21,699 shares of the software maker's stock worth $2,637,000 after buying an additional 103 shares during the period. Natixis Advisors LLC boosted its holdings in Commvault Systems by 1.0% in the 2nd quarter. Natixis Advisors LLC now owns 13,693 shares of the software maker's stock valued at $1,665,000 after purchasing an additional 138 shares during the period. Commonwealth Equity Services LLC lifted its stake in shares of Commvault Systems by 5.4% in the second quarter. Commonwealth Equity Services LLC now owns 2,701 shares of the software maker's stock valued at $328,000 after buying an additional 139 shares during the period. Finally, Parallel Advisors LLC grew its holdings in shares of Commvault Systems by 5.9% during the 2nd quarter. Parallel Advisors LLC now owns 2,749 shares of the software maker's stock worth $334,000 after purchasing an additional 153 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors.

Commvault Systems Stock Performance

NASDAQ CVLT traded up $3.51 during trading on Friday, hitting $175.75. The stock had a trading volume of 256,420 shares, compared to its average volume of 334,910. The company has a market capitalization of $7.69 billion, a PE ratio of 44.49 and a beta of 0.61. Commvault Systems, Inc. has a 12 month low of $73.33 and a 12 month high of $178.72. The company's 50-day moving average price is $160.48 and its two-hundred day moving average price is $142.70.

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

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CVLT. Royal Bank of Canada lifted 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. StockNews.com downgraded shares of Commvault Systems from a "strong-buy" rating to a "buy" rating in a research note on Friday, November 1st. Oppenheimer initiated coverage on Commvault Systems in a report on Wednesday, November 13th. They issued an "outperform" rating and a $200.00 price target on the stock. Guggenheim lowered shares of Commvault Systems from a "buy" rating to a "neutral" rating in a report on Tuesday, October 15th. Finally, DA Davidson lifted their price objective on shares of Commvault Systems from $170.00 to $175.00 and gave the stock a "buy" rating in a research note on Friday, September 6th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $151.25.

Insider Activity

In other Commvault Systems news, CEO Sanjay Mirchandani sold 10,775 shares of the company's stock in a transaction on Monday, November 18th. The shares were sold at an average price of $165.30, for a total value of $1,781,107.50. Following the transaction, the chief executive officer now directly owns 459,969 shares in the company, valued at $76,032,875.70. The trade was a 2.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Gary Merrill sold 1,523 shares of the firm's 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 sale, the insider now owns 93,007 shares of the company's stock, valued at approximately $15,335,924.23. This represents a 1.61 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 13,530 shares of company stock valued at $2,244,755. 1.00% of the stock is owned by insiders.

About Commvault Systems

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.