Creative Planning Boosts Stock Position in Commvault Systems, Inc. (NASDAQ:CVLT)

Creative Planning increased its position in Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 66.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,150 shares of the software maker's stock after acquiring an additional 4,829 shares during the quarter. Creative Planning's holdings in Commvault Systems were worth $1,869,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SG Americas Securities LLC increased its holdings in Commvault Systems by 504.6% in 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 in the last quarter. Ontario Teachers Pension Plan Board grew its holdings in Commvault Systems by 23.4% during the 1st quarter. Ontario Teachers Pension Plan Board now owns 25,770 shares of the software maker's stock valued at $2,614,000 after buying an additional 4,888 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp purchased a new stake in Commvault Systems during the 1st quarter valued at approximately $595,000. Intech Investment Management LLC purchased a new stake in Commvault Systems during the 2nd quarter valued at approximately $2,221,000. Finally, BOKF NA grew its holdings in Commvault Systems by 55.3% during the 1st quarter. BOKF NA now owns 3,119 shares of the software maker's stock valued at $313,000 after buying an additional 1,110 shares in the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Commvault Systems news, Director Allison Pickens sold 1,232 shares of the stock in a transaction 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 sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other 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 transaction, the insider now owns 94,530 shares in the company, 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 is accessible through this link. Also, 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 transaction, the director now owns 7,131 shares in the company, valued at approximately $1,097,389.59. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.00% of the company's stock.

Commvault Systems Stock Up 24.0 %

CVLT traded up $32.82 during trading on Tuesday, reaching $169.79. The company had a trading volume of 1,643,282 shares, compared to its average volume of 352,099. The stock has a market cap of $7.43 billion, a P/E ratio of 41.41 and a beta of 0.60. The business has a 50 day simple moving average of $149.09 and a 200-day simple moving average of $129.22. Commvault Systems, Inc. has a 52 week low of $64.32 and a 52 week high of $171.26.

Commvault Systems (NASDAQ:CVLT - Get Free Report) last issued its quarterly earnings results on Tuesday, July 30th. The software maker reported $0.85 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.73 by $0.12. Commvault Systems had a return on equity of 32.16% and a net margin of 20.19%. The company had revenue of $224.67 million during the quarter, compared to the consensus estimate of $215.54 million. During the same period last year, the company earned $0.29 earnings per share. Commvault Systems's revenue was up 13.4% on a year-over-year basis. As a group, equities research analysts expect that Commvault Systems, Inc. will post 1.66 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CVLT. Piper Sandler increased their price objective on shares of Commvault Systems from $107.00 to $123.00 and gave the company a "neutral" rating in a report on Monday, July 15th. StockNews.com upgraded Commvault Systems from a "buy" rating to a "strong-buy" rating in a research report on Thursday, October 24th. Royal Bank of Canada increased their target price on Commvault Systems from $121.00 to $152.00 and gave the company a "sector perform" rating in a research report on Wednesday, July 31st. KeyCorp increased their target price on Commvault Systems from $140.00 to $170.00 and gave the company an "overweight" rating in a research report on Wednesday, July 31st. Finally, DA Davidson increased their target price on Commvault Systems from $170.00 to $175.00 and gave the company a "buy" rating in a research report on Friday, September 6th. Four equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $140.00.

About Commvault Systems

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.