Dynamic Technology Lab Private Ltd Takes Position in Commvault Systems, Inc. (NASDAQ:CVLT)

Dynamic Technology Lab Private Ltd acquired a new position in shares of Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 10,339 shares of the software maker's stock, valued at approximately $1,591,000.

Several other hedge funds have also recently added to or reduced their stakes in the stock. AQR Capital Management LLC boosted its stake in Commvault Systems by 33.5% during the 2nd quarter. AQR Capital Management LLC now owns 648,858 shares of the software maker's stock worth $78,882,000 after acquiring an additional 162,722 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of Commvault Systems by 7.5% during the second quarter. Renaissance Technologies LLC now owns 1,813,487 shares of the software maker's stock worth $220,466,000 after purchasing an additional 126,800 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Commvault Systems by 25.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 586,795 shares of the software maker's stock valued at $90,278,000 after buying an additional 120,779 shares during the period. Congress Asset Management Co. increased its position in shares of Commvault Systems by 29.4% in the 3rd quarter. Congress Asset Management Co. now owns 492,162 shares of the software maker's stock valued at $75,719,000 after buying an additional 111,715 shares in the last quarter. Finally, M&G Plc bought a new stake in shares of Commvault Systems in the 2nd quarter valued at $10,265,000. Institutional investors and hedge funds own 93.50% of the company's stock.

Analyst Ratings Changes

A number of research analysts have issued reports on CVLT shares. Guggenheim cut Commvault Systems from a "buy" rating to a "neutral" rating in a research note on Tuesday, October 15th. Oppenheimer began coverage on Commvault Systems in a research note on Wednesday, November 13th. They set an "outperform" rating and a $200.00 target price for the company. Royal Bank of Canada lifted their price target on shares of Commvault Systems from $164.00 to $182.00 and gave the company a "sector perform" rating in a research note on Wednesday, October 30th. StockNews.com cut shares of Commvault Systems from a "strong-buy" rating to a "buy" rating in a research report on Friday, November 1st. Finally, KeyCorp upped their target price 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. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Commvault Systems currently has an average rating of "Moderate Buy" and an average price target of $151.25.

Commvault Systems Stock Performance

NASDAQ CVLT traded up $2.00 during trading hours on Tuesday, hitting $177.60. 279,698 shares of the company traded hands, compared to its average volume of 358,998. The stock has a market capitalization of $7.77 billion, a price-to-earnings ratio of 44.46 and a beta of 0.59. Commvault Systems, Inc. has a twelve month low of $70.72 and a twelve month high of $178.72. The business's 50-day moving average is $156.68 and its 200-day moving average is $138.74.

Commvault Systems (NASDAQ:CVLT - Get Free Report) last posted its quarterly earnings results 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 firm had revenue of $233.28 million for the quarter, compared to analyst estimates of $220.76 million. Commvault Systems had a net margin of 19.75% and a return on equity of 31.62%. The company's quarterly revenue was up 16.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.30 earnings per share. Analysts predict that Commvault Systems, Inc. will post 1.66 EPS for the current year.

Insiders Place Their Bets

In other news, Director Allison Pickens sold 1,232 shares of the 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 transaction, the director now directly owns 7,131 shares of the company's stock, valued at $1,097,389.59. This represents a 14.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Gary Merrill sold 1,523 shares of Commvault Systems stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $164.89, for a total transaction of $251,127.47. Following the sale, the insider now directly owns 93,007 shares of the company's stock, valued at $15,335,924.23. The trade was a 1.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 13,530 shares of company stock valued at $2,221,827 over the last 90 days. 1.00% of the stock is currently owned by insiders.

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.