Charles Schwab Investment Management Inc. Increases Position in Commvault Systems, Inc. (NASDAQ:CVLT)

Charles Schwab Investment Management Inc. boosted its holdings in shares of Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 25.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 586,795 shares of the software maker's stock after buying an additional 120,779 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.34% of Commvault Systems worth $90,278,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of CVLT. O Shaughnessy Asset Management LLC increased its holdings in Commvault Systems by 7.3% during the first quarter. O Shaughnessy Asset Management LLC now owns 5,029 shares of the software maker's stock valued at $510,000 after buying an additional 341 shares during the period. BOKF NA grew its holdings in Commvault Systems by 55.3% in the first quarter. BOKF NA now owns 3,119 shares of the software maker's stock worth $313,000 after purchasing an additional 1,110 shares during the last quarter. Bayesian Capital Management LP purchased a new position in Commvault Systems in the first quarter worth $351,000. Comerica Bank grew its holdings in Commvault Systems by 23.7% in the first quarter. Comerica Bank now owns 22,028 shares of the software maker's stock worth $2,234,000 after purchasing an additional 4,224 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in Commvault Systems by 140.5% in the second quarter. GAMMA Investing LLC now owns 529 shares of the software maker's stock worth $64,000 after purchasing an additional 309 shares during the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Gary Merrill sold 1,523 shares of the business's stock in a transaction dated Monday, November 18th. The shares were 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 of the company's stock, valued at $15,335,924.23. The trade was a 1.61 % 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 link. Also, CEO Sanjay Mirchandani sold 10,775 shares of the business's stock in a transaction dated 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 sale, the chief executive officer now directly owns 459,969 shares of the company's stock, valued at $76,032,875.70. This represents a 2.29 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 13,530 shares of company stock worth $2,221,827. Company insiders own 1.00% of the company's stock.

Analyst Ratings Changes

Several equities analysts have issued reports on CVLT shares. Royal Bank of Canada lifted their price target on shares of Commvault Systems from $164.00 to $182.00 and gave the stock a "sector perform" rating in a report on Wednesday, October 30th. Oppenheimer began coverage on shares of Commvault Systems in a research note on Wednesday, November 13th. They set an "outperform" rating and a $200.00 price objective for the company. Guggenheim downgraded shares of Commvault Systems from a "buy" rating to a "neutral" rating in a research note on Tuesday, October 15th. KeyCorp lifted their price objective on shares of Commvault Systems from $140.00 to $170.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 31st. 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 research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $151.25.

Commvault Systems Stock Performance

NASDAQ CVLT traded down $5.97 on Wednesday, reaching $171.63. 253,712 shares of the company's stock traded hands, compared to its average volume of 358,540. The firm has a market cap of $7.51 billion, a price-to-earnings ratio of 44.96 and a beta of 0.59. The stock has a 50 day moving average price of $157.27 and a 200-day moving average price of $139.20. Commvault Systems, Inc. has a fifty-two week low of $72.20 and a fifty-two week high of $178.72.

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

Commvault Systems Company 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.