Sumitomo Mitsui Trust Group Inc. Takes $1.17 Million Position in Commvault Systems, Inc. (NASDAQ:CVLT)

Sumitomo Mitsui Trust Group Inc. purchased a new stake in Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 7,588 shares of the software maker's stock, valued at approximately $1,167,000.

A number of other hedge funds also recently modified their holdings of CVLT. Versor Investments LP boosted its position in shares of Commvault Systems by 168.3% in the 3rd quarter. Versor Investments LP now owns 5,730 shares of the software maker's stock worth $882,000 after purchasing an additional 3,594 shares during the last quarter. Los Angeles Capital Management LLC boosted its position in shares of Commvault Systems by 31.3% in the third quarter. Los Angeles Capital Management LLC now owns 27,709 shares of the software maker's stock valued at $4,263,000 after acquiring an additional 6,598 shares during the period. Crossmark Global Holdings Inc. lifted its stake in Commvault Systems by 17.5% in the third quarter. Crossmark Global Holdings Inc. now owns 3,227 shares of the software maker's stock worth $497,000 after purchasing an additional 480 shares during the last quarter. Covestor Ltd lifted its position in Commvault Systems by 46.8% during the 3rd quarter. Covestor Ltd now owns 1,681 shares of the software maker's stock valued at $259,000 after acquiring an additional 536 shares during the period. Finally, CWA Asset Management Group LLC purchased a new stake in shares of Commvault Systems during the 3rd quarter valued at about $1,021,000. Hedge funds and other institutional investors own 93.50% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on CVLT shares. StockNews.com lowered Commvault Systems from a "strong-buy" rating to a "buy" rating in a research note on Friday, November 1st. 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 Commvault Systems from $170.00 to $175.00 and gave the stock a "buy" rating in a report on Friday, September 6th. KeyCorp boosted their price target 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. Finally, Oppenheimer assumed coverage on shares of Commvault Systems in a report on Wednesday, November 13th. They issued an "outperform" rating and a $200.00 price target for the company. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $151.25.

Commvault Systems Stock Performance

Commvault Systems stock traded up $2.31 during mid-day trading on Wednesday, hitting $170.96. The company's stock had a trading volume of 286,004 shares, compared to its average volume of 359,339. The stock has a market cap of $7.48 billion, a PE ratio of 43.28 and a beta of 0.59. Commvault Systems, Inc. has a one year low of $69.71 and a one year high of $178.29. The company has a 50 day moving average of $154.65 and a 200-day moving average of $136.95.

Commvault Systems (NASDAQ:CVLT - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The software maker reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.07. Commvault Systems had a return on equity of 31.62% and a net margin of 19.75%. The business had revenue of $233.28 million for the quarter, compared to analysts' expectations of $220.76 million. During the same period last year, the firm earned $0.30 earnings per share. The company's revenue for the quarter was up 16.1% compared to the same quarter last year. On average, equities research analysts forecast that Commvault Systems, Inc. will post 1.66 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Sanjay Mirchandani sold 10,775 shares of Commvault Systems stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $165.30, for a total value of $1,781,107.50. Following the completion of the transaction, the chief executive officer now directly owns 459,969 shares of the company's stock, valued at $76,032,875.70. The trade was a 2.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Gary Merrill sold 1,523 shares of the firm's stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $164.89, for a total transaction of $251,127.47. Following the completion of the sale, the insider now owns 93,007 shares of the company's stock, valued at $15,335,924.23. The trade was a 1.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,918 shares of company stock worth $4,843,242 in the last quarter. 1.00% of the stock is currently owned by corporate insiders.

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.