Intech Investment Management LLC grew its stake in shares of Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 31.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,074 shares of the software maker's stock after buying an additional 5,805 shares during the quarter. Intech Investment Management LLC owned about 0.06% of Commvault Systems worth $3,704,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently made changes to their positions in the company. Capital Performance Advisors LLP acquired a new position in Commvault Systems in the third quarter worth approximately $33,000. National Bank of Canada FI purchased a new position in Commvault Systems during the 2nd quarter worth approximately $30,000. Hexagon Capital Partners LLC grew its position in Commvault Systems by 124.8% during the 2nd quarter. Hexagon Capital Partners LLC now owns 353 shares of the software maker's stock worth $43,000 after purchasing an additional 196 shares in the last quarter. Signaturefd LLC grew its position in 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 purchasing an additional 170 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in Commvault Systems by 140.5% during the 2nd quarter. GAMMA Investing LLC now owns 529 shares of the software maker's stock worth $64,000 after purchasing an additional 309 shares in the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several research firms have recently commented on CVLT. DA Davidson boosted their price target on shares of Commvault Systems from $170.00 to $175.00 and gave the company a "buy" rating in a report on Friday, September 6th. Royal Bank of Canada boosted their price target on shares of Commvault Systems from $164.00 to $182.00 and gave the company a "sector perform" rating in a report on Wednesday, October 30th. Oppenheimer began coverage on shares of Commvault Systems in a report on Wednesday, November 13th. They set an "outperform" rating and a $200.00 price target on the stock. KeyCorp boosted their price target on shares of Commvault Systems from $140.00 to $170.00 and gave the company an "overweight" rating in a report on Wednesday, July 31st. Finally, StockNews.com cut shares of Commvault Systems from a "strong-buy" rating to a "buy" rating in a report on Friday, November 1st. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $151.25.
Check Out Our Latest Analysis on CVLT
Commvault Systems Price Performance
Shares of CVLT stock traded up $3.91 during trading hours on Friday, reaching $174.60. 392,001 shares of the company were exchanged, compared to its average volume of 502,513. Commvault Systems, Inc. has a fifty-two week low of $70.30 and a fifty-two week high of $178.29. The stock's fifty day moving average is $156.18 and its two-hundred day moving average is $138.08. The company has a market cap of $7.64 billion, a price-to-earnings ratio of 44.20 and a beta of 0.59.
Commvault Systems (NASDAQ:CVLT - Get Free Report) last announced its earnings results on Tuesday, October 29th. The software maker reported $0.83 earnings per share (EPS) for the quarter, topping 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 company had revenue of $233.28 million for the quarter, compared to analyst estimates of $220.76 million. During the same period in the prior year, the business earned $0.30 earnings per share. Commvault Systems's quarterly revenue was up 16.1% on a year-over-year basis. On average, research analysts anticipate that Commvault Systems, Inc. will post 1.66 earnings per share for the current year.
Insider Activity at Commvault Systems
In related news, Director Allison Pickens sold 1,232 shares of the firm's stock in a transaction on Friday, August 30th. The shares were sold at an average price of $153.89, for a total transaction of $189,592.48. Following the sale, the director now directly owns 7,131 shares in the company, valued at $1,097,389.59. This trade represents a 14.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Sanjay Mirchandani sold 10,775 shares of the firm's 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 in the company, valued at approximately $76,032,875.70. The trade was a 2.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,918 shares of company stock worth $4,843,242 over the last ninety days. Company insiders own 1.00% of the company's stock.
Commvault Systems Company Profile
(
Free Report)
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.
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