Congress Asset Management Co. Increases Position in Commvault Systems, Inc. (NASDAQ:CVLT)

Congress Asset Management Co. lifted its position in shares of Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 29.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 492,162 shares of the software maker's stock after purchasing an additional 111,715 shares during the quarter. Congress Asset Management Co. owned 1.12% of Commvault Systems worth $75,719,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. National Bank of Canada FI bought a new stake in shares of Commvault Systems in the 2nd quarter worth approximately $30,000. Hexagon Capital Partners LLC grew its stake in Commvault Systems by 124.8% in the second quarter. Hexagon Capital Partners LLC now owns 353 shares of the software maker's stock worth $43,000 after purchasing an additional 196 shares in the last quarter. Signaturefd LLC boosted its position in Commvault Systems by 70.8% during the 2nd quarter. Signaturefd LLC now owns 410 shares of the software maker's stock valued at $50,000 after acquiring an additional 170 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Commvault Systems by 140.5% in the 2nd quarter. GAMMA Investing LLC now owns 529 shares of the software maker's stock worth $64,000 after purchasing an additional 309 shares in the last quarter. Finally, DT Investment Partners LLC purchased a new position in Commvault Systems in the 2nd quarter worth $69,000. Institutional investors own 93.50% of the company's stock.

Commvault Systems Stock Performance

CVLT traded down $6.06 during midday trading on Thursday, hitting $156.19. The company had a trading volume of 476,357 shares, compared to its average volume of 354,288. Commvault Systems, Inc. has a twelve month low of $64.32 and a twelve month high of $171.26. The firm's 50-day simple moving average is $149.72 and its 200-day simple moving average is $129.96. The company has a market capitalization of $6.83 billion, a PE ratio of 39.72 and a beta of 0.60.

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

Insider Activity

In other news, Director Allison Pickens sold 1,232 shares of the firm's stock in a transaction that occurred 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Allison Pickens sold 1,232 shares of Commvault Systems 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 completion of the sale, the director now owns 7,131 shares of the company's stock, valued at approximately $1,097,389.59. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Gary Merrill sold 17,388 shares of the business's stock in a transaction dated 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 directly owns 94,530 shares in the company, valued at $14,251,342.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.00% of the company's stock.

Wall Street Analysts Forecast Growth

CVLT has been the subject of several research reports. DA Davidson boosted their price objective on Commvault Systems from $170.00 to $175.00 and gave the stock a "buy" rating in a research note on Friday, September 6th. KeyCorp increased their target price on Commvault Systems from $140.00 to $170.00 and gave the company an "overweight" rating in a report on Wednesday, July 31st. Guggenheim lowered Commvault Systems from a "buy" rating to a "neutral" rating in a report on Tuesday, October 15th. Royal Bank of Canada raised 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 note on Wednesday. Finally, StockNews.com upgraded shares of Commvault Systems from a "buy" rating to a "strong-buy" rating in a report on Thursday, October 24th. Four equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Commvault Systems has a consensus rating of "Moderate Buy" and an average target price of $144.29.

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.