CWA Asset Management Group LLC Takes $1.02 Million Position in Commvault Systems, Inc. (NASDAQ:CVLT)

CWA Asset Management Group LLC bought a new stake in Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 6,639 shares of the software maker's stock, valued at approximately $1,021,000.

Other large investors also recently bought and sold shares of the company. National Bank of Canada FI acquired a new stake in Commvault Systems in the 2nd quarter worth about $30,000. Capital Performance Advisors LLP purchased a new position in shares of Commvault Systems in the 3rd quarter worth about $33,000. Hexagon Capital Partners LLC raised 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 purchasing an additional 196 shares during the period. Signaturefd LLC raised its holdings in shares of Commvault Systems by 70.8% in the 2nd quarter. Signaturefd LLC now owns 410 shares of the software maker's stock worth $50,000 after purchasing an additional 170 shares during the period. Finally, Strategic Financial Concepts LLC purchased a new position in shares of Commvault Systems in the 2nd quarter worth about $56,000. Institutional investors and hedge funds own 93.50% of the company's stock.

Commvault Systems Price Performance

NASDAQ:CVLT traded up $1.64 during midday trading on Monday, reaching $173.21. 192,330 shares of the company traded hands, compared to its average volume of 355,823. Commvault Systems, Inc. has a twelve month low of $68.02 and a twelve month high of $173.80. The firm has a market capitalization of $7.57 billion, a price-to-earnings ratio of 43.75 and a beta of 0.59. The company has a fifty day moving average price of $151.33 and a 200 day moving average price of $133.56.

Commvault Systems (NASDAQ:CVLT - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The software maker reported $0.83 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.76 by $0.07. Commvault Systems had a return on equity of 31.62% and a net margin of 19.75%. The business had revenue of $233.28 million during the quarter, compared to analyst estimates of $220.76 million. During the same quarter in the previous year, the firm posted $0.30 EPS. The business's revenue for the quarter was up 16.1% compared to the same quarter last year. On average, equities research analysts forecast that Commvault Systems, Inc. will post 1.65 earnings per share for the current fiscal year.

Insider Buying and Selling at Commvault Systems

In other Commvault Systems news, insider Gary Merrill sold 17,388 shares of Commvault Systems stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $150.76, for a total transaction of $2,621,414.88. Following the sale, the insider now owns 94,530 shares of the company's stock, valued at $14,251,342.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Gary Merrill sold 17,388 shares of Commvault Systems stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $150.76, for a total transaction of $2,621,414.88. Following the transaction, the insider now owns 94,530 shares in the company, valued at approximately $14,251,342.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Allison Pickens sold 1,232 shares of the business's stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $153.89, for a total value of $189,592.48. Following the completion of the transaction, the director now owns 7,131 shares in the company, valued at $1,097,389.59. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CVLT. Piper Sandler raised their price objective on Commvault Systems from $107.00 to $123.00 and gave the company a "neutral" rating in a research note on Monday, July 15th. Royal Bank of Canada raised their price objective on Commvault Systems from $164.00 to $182.00 and gave the company a "sector perform" rating in a research note on Wednesday, October 30th. KeyCorp raised their price objective on Commvault Systems from $140.00 to $170.00 and gave the company an "overweight" rating in a research note on Wednesday, July 31st. Guggenheim lowered Commvault Systems from a "buy" rating to a "neutral" rating in a research report on Tuesday, October 15th. Finally, DA Davidson lifted their target price on Commvault Systems from $170.00 to $175.00 and gave the stock a "buy" rating in a research report on Friday, September 6th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, Commvault Systems has an average rating of "Moderate Buy" and an average target price of $144.29.

Commvault Systems 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.