State Street Corp Acquires 25,082 Shares of Commvault Systems, Inc. (NASDAQ:CVLT)

State Street Corp boosted its holdings in shares of Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 1.6% in the third quarter, according to its most recent filing with the SEC. The firm owned 1,594,045 shares of the software maker's stock after acquiring an additional 25,082 shares during the period. State Street Corp owned 3.65% of Commvault Systems worth $245,244,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. SG Americas Securities LLC increased its stake in shares of Commvault Systems by 504.6% in the 2nd quarter. SG Americas Securities LLC now owns 13,016 shares of the software maker's stock valued at $1,582,000 after acquiring an additional 10,863 shares during the last quarter. Intech Investment Management LLC acquired a new position in Commvault Systems during the second quarter valued at approximately $2,221,000. Charles Schwab Investment Management Inc. increased its stake in Commvault Systems by 25.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 586,795 shares of the software maker's stock valued at $90,278,000 after purchasing an additional 120,779 shares in the last quarter. Summit Partners Public Asset Management LLC acquired a new stake in Commvault Systems in the third quarter worth $67,722,000. Finally, Ellsworth Advisors LLC bought a new position in shares of Commvault Systems during the second quarter worth $495,000. Institutional investors and hedge funds own 93.50% of the company's stock.

Insider Buying and Selling

In related news, CEO Sanjay Mirchandani sold 10,775 shares of Commvault Systems stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $165.30, for a total transaction of $1,781,107.50. Following the completion of the sale, the chief executive officer now owns 459,969 shares of the company's stock, valued at approximately $76,032,875.70. The trade was a 2.29 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Allison Pickens sold 1,232 shares of the stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $172.50, for a total transaction of $212,520.00. Following the completion of the transaction, the director now directly owns 5,899 shares in the company, valued at approximately $1,017,577.50. This represents a 17.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 13,530 shares of company stock worth $2,244,755. Company insiders own 1.00% of the company's stock.

Commvault Systems Stock Up 0.0 %

Shares of NASDAQ CVLT traded up $0.04 during trading hours on Thursday, hitting $173.14. The company had a trading volume of 174,083 shares, compared to its average volume of 353,867. Commvault Systems, Inc. has a 1-year low of $73.33 and a 1-year high of $178.72. The firm's 50 day moving average is $162.21 and its 200-day moving average is $143.98. The stock has a market capitalization of $7.57 billion, a P/E ratio of 43.83 and a beta of 0.61.

Commvault Systems (NASDAQ:CVLT - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The software maker reported $0.83 EPS 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 analysts' expectations of $220.76 million. Commvault Systems had a net margin of 19.75% and a return on equity of 31.62%. The company's revenue for the quarter was up 16.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.30 earnings per share. On average, sell-side analysts predict that Commvault Systems, Inc. will post 1.66 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Royal Bank of Canada upped 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 report on Wednesday, October 30th. DA Davidson raised their price target on Commvault Systems from $170.00 to $175.00 and gave the stock a "buy" rating in a research report on Friday, September 6th. Oppenheimer initiated coverage on Commvault Systems in a report on Wednesday, November 13th. They set an "outperform" rating and a $200.00 price objective on the stock. Guggenheim downgraded shares of Commvault Systems from a "buy" rating to a "neutral" rating in a report on Tuesday, October 15th. Finally, StockNews.com downgraded Commvault Systems from a "strong-buy" rating to a "buy" rating in a research note on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $151.25.

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.