Raymond James & Associates Raises Stake in Commvault Systems, Inc. (NASDAQ:CVLT)

Raymond James & Associates boosted its position in shares of Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 58.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,410 shares of the software maker's stock after buying an additional 5,661 shares during the period. Raymond James & Associates' holdings in Commvault Systems were worth $2,371,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. AlphaMark Advisors LLC bought a new position in shares of Commvault Systems in the third quarter worth about $328,000. Ellsworth Advisors LLC raised its holdings in Commvault Systems by 4.4% in the 3rd quarter. Ellsworth Advisors LLC now owns 4,252 shares of the software maker's stock valued at $654,000 after buying an additional 181 shares during the last quarter. Vontobel Holding Ltd. bought a new position in Commvault Systems in the 3rd quarter valued at approximately $1,126,000. Kapitalo Investimentos Ltda raised its holdings in Commvault Systems by 20.8% in the 3rd quarter. Kapitalo Investimentos Ltda now owns 2,758 shares of the software maker's stock valued at $424,000 after buying an additional 474 shares during the last quarter. Finally, Ulland Investment Advisors LLC raised its holdings in Commvault Systems by 16.1% in the 3rd quarter. Ulland Investment Advisors LLC now owns 6,449 shares of the software maker's stock valued at $992,000 after buying an additional 893 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Commvault Systems Stock Performance

Shares of CVLT stock traded up $12.43 during trading hours on Wednesday, hitting $171.84. 684,857 shares of the company were exchanged, compared to its average volume of 356,537. The firm has a market cap of $7.51 billion, a P/E ratio of 43.50 and a beta of 0.59. Commvault Systems, Inc. has a fifty-two week low of $67.88 and a fifty-two week high of $172.83. The company has a 50 day simple moving average of $150.63 and a two-hundred day simple moving average of $132.25.

Commvault Systems (NASDAQ:CVLT - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The software maker reported $0.83 EPS for the quarter, topping the consensus estimate of $0.76 by $0.07. The company 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 company's quarterly revenue was up 16.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.30 EPS. As a group, sell-side analysts expect that Commvault Systems, Inc. will post 1.68 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Royal Bank of Canada raised their price objective on shares of Commvault Systems from $164.00 to $182.00 and gave the company a "sector perform" rating in a report on Wednesday, October 30th. KeyCorp raised their price objective on shares of Commvault Systems from $140.00 to $170.00 and gave the company an "overweight" rating in a report on Wednesday, July 31st. Guggenheim downgraded shares of Commvault Systems from a "buy" rating to a "neutral" rating in a research report on Tuesday, October 15th. DA Davidson increased their target price on shares of Commvault Systems from $170.00 to $175.00 and gave the company a "buy" rating in a research report on Friday, September 6th. Finally, Piper Sandler increased their target price on shares of Commvault Systems from $107.00 to $123.00 and gave the company a "neutral" rating in a research report on Monday, July 15th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $144.29.

Insider Transactions at Commvault Systems

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. In other Commvault Systems news, insider Gary Merrill sold 17,388 shares of Commvault Systems stock in a transaction on 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 transaction, the insider now directly owns 94,530 shares of the company's stock, valued at $14,251,342.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Allison Pickens sold 1,232 shares of Commvault Systems stock in a transaction on Friday, August 30th. The stock was sold at an average price of $153.89, for a total transaction of $189,592.48. Following the transaction, the director now directly owns 7,131 shares in the company, valued at $1,097,389.59. This 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.

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.