Los Angeles Capital Management LLC Purchases 6,598 Shares of Commvault Systems, Inc. (NASDAQ:CVLT)

Los Angeles Capital Management LLC boosted its position in Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 31.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,709 shares of the software maker's stock after buying an additional 6,598 shares during the quarter. Los Angeles Capital Management LLC owned 0.06% of Commvault Systems worth $4,263,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in CVLT. SG Americas Securities LLC lifted its position in Commvault Systems by 504.6% during the 2nd quarter. SG Americas Securities LLC now owns 13,016 shares of the software maker's stock worth $1,582,000 after acquiring an additional 10,863 shares during the last quarter. Ontario Teachers Pension Plan Board grew its stake in shares of Commvault Systems by 23.4% during the first quarter. Ontario Teachers Pension Plan Board now owns 25,770 shares of the software maker's stock worth $2,614,000 after buying an additional 4,888 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp bought a new stake in shares of Commvault Systems in the 1st quarter valued at $595,000. Intech Investment Management LLC bought a new stake in Commvault Systems in the 2nd quarter worth about $2,221,000. Finally, BOKF NA boosted its stake in Commvault Systems by 55.3% in the 1st 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. Institutional investors and hedge funds own 93.50% of the company's stock.

Insider Activity at Commvault Systems

In other Commvault Systems news, insider Gary Merrill sold 17,388 shares of the firm's 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 completion of the transaction, the insider now owns 94,530 shares of the company's stock, valued at approximately $14,251,342.80. This trade represents 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 this link. In other 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 value of $189,592.48. Following the sale, the director now directly owns 7,131 shares in the company, valued at approximately $1,097,389.59. This trade represents a 0.00 % decrease in their position. 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 17,388 shares of the firm's stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $150.76, for a total transaction of $2,621,414.88. Following the completion of the sale, the insider now owns 94,530 shares of the company's stock, valued at $14,251,342.80. 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 corporate insiders.

Commvault Systems Stock Up 4.1 %

CVLT traded up $6.89 on Wednesday, hitting $176.57. 741,599 shares of the company traded hands, compared to its average volume of 358,426. The company has a 50 day moving average of $152.65 and a 200-day moving average of $134.89. Commvault Systems, Inc. has a 12-month low of $68.02 and a 12-month high of $177.58. The stock has a market capitalization of $7.72 billion, a PE ratio of 44.70 and a beta of 0.59.

Commvault Systems (NASDAQ:CVLT - Get Free Report) last posted its earnings results on Tuesday, October 29th. The software maker reported $0.83 earnings per share for the quarter, topping 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 during the quarter, compared to analyst estimates of $220.76 million. During the same period in the previous year, the company earned $0.30 EPS. The company's revenue for the quarter was up 16.1% on a year-over-year basis. On average, research analysts anticipate that Commvault Systems, Inc. will post 1.65 EPS for the current year.

Wall Street Analyst Weigh In

CVLT has been the topic of several research reports. KeyCorp raised their target price on shares of Commvault Systems from $140.00 to $170.00 and gave the stock an "overweight" rating in a report on Wednesday, July 31st. StockNews.com cut shares of Commvault Systems from a "strong-buy" rating to a "buy" rating in a report on Friday, November 1st. Royal Bank of Canada upped their target price 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. DA Davidson raised their price objective on Commvault Systems from $170.00 to $175.00 and gave the company a "buy" rating in a research report on Friday, September 6th. Finally, Guggenheim cut Commvault Systems from a "buy" rating to a "neutral" rating in a research report on Tuesday, October 15th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Commvault Systems currently has a consensus rating of "Moderate Buy" and a consensus target price of $151.25.

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.