3,288 Shares in Commvault Systems, Inc. (NASDAQ:CVLT) Purchased by Portside Wealth Group LLC

Portside Wealth Group LLC purchased a new position in shares of Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,288 shares of the software maker's stock, valued at approximately $506,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CVLT. Champlain Investment Partners LLC raised its stake in shares of Commvault Systems by 58.5% during the 1st quarter. Champlain Investment Partners LLC now owns 825,236 shares of the software maker's stock worth $83,704,000 after purchasing an additional 304,459 shares in the last quarter. Acadian Asset Management LLC increased its holdings in Commvault Systems by 16.3% in the first quarter. Acadian Asset Management LLC now owns 1,596,635 shares of the software maker's stock worth $161,914,000 after buying an additional 223,347 shares during the last quarter. AQR Capital Management LLC raised its position in Commvault Systems by 33.5% during the second quarter. AQR Capital Management LLC now owns 648,858 shares of the software maker's stock valued at $78,882,000 after acquiring an additional 162,722 shares in the last quarter. Renaissance Technologies LLC lifted its stake in Commvault Systems by 7.5% in the second quarter. Renaissance Technologies LLC now owns 1,813,487 shares of the software maker's stock valued at $220,466,000 after acquiring an additional 126,800 shares during the last quarter. Finally, Congress Asset Management Co. grew its position in Commvault Systems by 29.4% in the third quarter. Congress Asset Management Co. now owns 492,162 shares of the software maker's stock worth $75,719,000 after acquiring an additional 111,715 shares in the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Commvault Systems Stock Performance

Shares of CVLT traded down $0.05 during mid-day trading on Friday, hitting $171.57. The company's stock had a trading volume of 451,693 shares, compared to its average volume of 486,892. Commvault Systems, Inc. has a one year low of $68.02 and a one year high of $173.01. The stock's 50-day moving average is $151.33 and its two-hundred day moving average is $133.30. The firm has a market capitalization of $7.50 billion, a PE ratio of 43.44 and a beta of 0.59.

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 for the quarter, beating analysts' consensus estimates of $0.76 by $0.07. The firm had revenue of $233.28 million during the quarter, compared to the consensus estimate of $220.76 million. Commvault Systems had a net margin of 19.75% and a return on equity of 31.62%. The business's revenue was up 16.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.30 EPS. Analysts expect that Commvault Systems, Inc. will post 1.65 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Royal Bank of Canada lifted their price objective 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. KeyCorp increased their price objective on Commvault Systems from $140.00 to $170.00 and gave the company an "overweight" rating in a report on Wednesday, July 31st. StockNews.com lowered Commvault Systems from a "strong-buy" rating to a "buy" rating in a report on Friday, November 1st. Guggenheim downgraded Commvault Systems from a "buy" rating to a "neutral" rating in a report on Tuesday, October 15th. Finally, Piper Sandler boosted their price objective on shares of Commvault Systems from $107.00 to $123.00 and gave the stock a "neutral" rating in a research note on Monday, July 15th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $144.29.

Insider Activity at Commvault Systems

In other news, insider Gary Merrill sold 17,388 shares of the business's stock in a transaction that occurred 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 sale, the insider now directly owns 94,530 shares in the company, valued at approximately $14,251,342.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related 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 completion of the transaction, the director now owns 7,131 shares of the company's stock, valued at $1,097,389.59. This 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. Also, insider Gary Merrill sold 17,388 shares of Commvault Systems stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $150.76, for a total value of $2,621,414.88. Following the sale, the insider now directly owns 94,530 shares in the company, valued at $14,251,342.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company's stock.

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.