Jennison Associates LLC Buys New Stake in Commvault Systems, Inc. (NASDAQ:CVLT)

Jennison Associates LLC acquired a new stake in shares of Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 7,761 shares of the software maker's stock, valued at approximately $1,194,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in CVLT. Vanguard Group Inc. raised its stake in Commvault Systems by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 5,531,703 shares of the software maker's stock valued at $561,081,000 after purchasing an additional 43,333 shares during the last quarter. O Shaughnessy Asset Management LLC raised its position in Commvault Systems by 7.3% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 5,029 shares of the software maker's stock valued at $510,000 after purchasing an additional 341 shares during the last quarter. BOKF NA lifted its holdings in shares of Commvault Systems by 55.3% during the first quarter. BOKF NA now owns 3,119 shares of the software maker's stock worth $313,000 after purchasing an additional 1,110 shares during the period. Bayesian Capital Management LP purchased a new stake in shares of Commvault Systems in the first quarter valued at approximately $351,000. Finally, Virtus Investment Advisers Inc. grew its holdings in shares of Commvault Systems by 10.1% in the 1st quarter. Virtus Investment Advisers Inc. now owns 13,316 shares of the software maker's stock worth $1,351,000 after acquiring an additional 1,226 shares during the period. 93.50% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Allison Pickens sold 1,232 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was 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 of the company's stock, valued at approximately $1,097,389.59. This represents a 14.73 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Gary Merrill sold 1,523 shares of the business's 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 in the company, 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 30,918 shares of company stock worth $4,843,242 over the last 90 days. Corporate insiders own 1.00% of the company's stock.

Commvault Systems Price Performance

NASDAQ:CVLT traded up $3.91 during trading hours on Friday, hitting $174.60. The company's stock had a trading volume of 392,001 shares, compared to its average volume of 502,513. The stock has a fifty day simple moving average of $156.18 and a 200-day simple moving average of $138.08. The company has a market capitalization of $7.64 billion, a P/E ratio of 44.20 and a beta of 0.59. Commvault Systems, Inc. has a twelve month low of $70.30 and a twelve month high of $178.29.

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

Wall Street Analyst Weigh In

Several research firms have commented on CVLT. Oppenheimer started coverage on Commvault Systems in a report on Wednesday, November 13th. They issued an "outperform" rating and a $200.00 price target for the company. 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. Guggenheim downgraded Commvault Systems from a "buy" rating to a "neutral" rating in a research note on Tuesday, October 15th. Royal Bank of Canada lifted 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. Finally, KeyCorp raised their price target on Commvault Systems from $140.00 to $170.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 31st. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $151.25.

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.