HighTower Advisors LLC Purchases 10,948 Shares of Commvault Systems, Inc. (NASDAQ:CVLT)

HighTower Advisors LLC raised its holdings in Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 478.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,238 shares of the software maker's stock after purchasing an additional 10,948 shares during the period. HighTower Advisors LLC's holdings in Commvault Systems were worth $2,032,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of CVLT. National Bank of Canada FI bought a new stake in Commvault Systems in the 2nd quarter valued at about $30,000. Capital Performance Advisors LLP bought a new stake in shares of Commvault Systems during the 3rd quarter worth approximately $33,000. Signaturefd LLC lifted 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 acquiring an additional 170 shares during the period. Strategic Financial Concepts LLC bought a new stake in shares of Commvault Systems during the 2nd quarter worth approximately $56,000. Finally, DT Investment Partners LLC bought a new stake in shares of Commvault Systems during the 2nd quarter worth approximately $69,000. Institutional investors own 93.50% of the company's stock.

Insider Buying and Selling at Commvault Systems

In other news, insider Gary Merrill sold 1,523 shares of the stock in a transaction on 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 directly owns 93,007 shares in the company, valued at $15,335,924.23. This represents a 1.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Sanjay Mirchandani sold 10,775 shares of the stock in a transaction 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 sale, the chief executive officer now owns 459,969 shares of the company's stock, 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. In the last ninety days, insiders sold 13,530 shares of company stock worth $2,244,755. 1.00% of the stock is currently owned by company insiders.

Commvault Systems Stock Down 2.6 %

NASDAQ CVLT traded down $4.45 on Friday, hitting $168.69. The company's stock had a trading volume of 241,713 shares, compared to its average volume of 353,404. Commvault Systems, Inc. has a 1-year low of $73.33 and a 1-year high of $178.72. The company's 50-day moving average is $162.52 and its 200 day moving average is $144.85. The firm has a market cap of $7.38 billion, a PE ratio of 42.71 and a beta of 0.61.

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

Analyst Ratings Changes

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

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.