Citigroup Inc. Increases Holdings in Commvault Systems, Inc. (NASDAQ:CVLT)

Citigroup Inc. boosted its position in Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 146.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 47,867 shares of the software maker's stock after purchasing an additional 28,408 shares during the period. Citigroup Inc. owned about 0.11% of Commvault Systems worth $7,364,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. National Bank of Canada FI acquired a new stake in shares of Commvault Systems in the second quarter valued at about $30,000. Capital Performance Advisors LLP purchased a new stake in shares of Commvault Systems during the 3rd quarter worth approximately $33,000. Hexagon Capital Partners LLC grew its holdings 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 worth $43,000 after acquiring an additional 196 shares during the period. Signaturefd LLC raised its holdings in Commvault Systems by 70.8% during the second quarter. Signaturefd LLC now owns 410 shares of the software maker's stock worth $50,000 after purchasing an additional 170 shares during the last quarter. Finally, Strategic Financial Concepts LLC acquired a new position in Commvault Systems during the second quarter worth $56,000. Hedge funds and other institutional investors own 93.50% of the company's stock.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Commvault Systems

In related news, insider Gary Merrill sold 1,523 shares of Commvault Systems stock in a transaction on Monday, November 18th. The stock was sold at an average price of $164.89, for a total value of $251,127.47. Following the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sanjay Mirchandani sold 10,775 shares of the company's stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $165.30, for a total value of $1,781,107.50. Following the sale, the chief executive officer now owns 459,969 shares of the company's stock, valued at $76,032,875.70. This 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 company insiders.

Commvault Systems Stock Down 0.0 %

Shares of CVLT traded down $0.04 on Friday, hitting $171.59. 144,938 shares of the stock traded hands, compared to its average volume of 385,520. The firm has a market capitalization of $7.50 billion, a P/E ratio of 43.44 and a beta of 0.59. Commvault Systems, Inc. has a 1 year low of $72.76 and a 1 year high of $178.72. The stock's 50 day moving average is $158.48 and its two-hundred day moving average is $140.31.

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