Van ECK Associates Corp Has $4.59 Million Stock Position in Commvault Systems, Inc. (NASDAQ:CVLT)

Van ECK Associates Corp grew its position in Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 40.0% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 29,812 shares of the software maker's stock after buying an additional 8,519 shares during the period. Van ECK Associates Corp owned 0.07% of Commvault Systems worth $4,587,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in CVLT. National Bank of Canada FI bought a new stake in shares of Commvault Systems during the second quarter worth approximately $30,000. Hexagon Capital Partners LLC lifted its stake in shares of Commvault Systems by 124.8% in the 2nd quarter. Hexagon Capital Partners LLC now owns 353 shares of the software maker's stock valued at $43,000 after purchasing an additional 196 shares during the period. Signaturefd LLC boosted its position in shares of Commvault Systems by 70.8% in the 2nd quarter. Signaturefd LLC now owns 410 shares of the software maker's stock worth $50,000 after purchasing an additional 170 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Commvault Systems by 140.5% during the second quarter. GAMMA Investing LLC now owns 529 shares of the software maker's stock worth $64,000 after purchasing an additional 309 shares during the period. Finally, DT Investment Partners LLC acquired a new position in Commvault Systems in the second quarter valued at about $69,000. Institutional investors own 93.50% of the company's stock.

Insider Activity

In related 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 transaction, the insider now directly owns 94,530 shares of the company's stock, valued at approximately $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 can be accessed through the SEC website. In related news, insider Gary Merrill sold 17,388 shares of Commvault Systems 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 completion of the sale, the insider now directly owns 94,530 shares of the company's stock, valued at approximately $14,251,342.80. 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 the SEC website. Also, Director Allison Pickens sold 1,232 shares of the business's 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 $1,097,389.59. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. StockNews.com downgraded shares of Commvault Systems from a "strong-buy" rating to a "buy" rating in a research report on Friday, November 1st. Piper Sandler upped their price objective 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. KeyCorp lifted their target price on Commvault Systems from $140.00 to $170.00 and gave the stock an "overweight" rating in a report on Wednesday, July 31st. 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. Finally, Guggenheim lowered Commvault Systems from a "buy" rating to a "neutral" rating in a research report on Tuesday, October 15th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $144.29.

Commvault Systems Trading Down 0.0 %

Shares of NASDAQ CVLT traded down $0.05 during mid-day trading on Friday, hitting $171.57. The company had a trading volume of 451,693 shares, compared to its average volume of 486,892. The firm has a 50-day simple moving average of $151.33 and a two-hundred day simple moving average of $133.05. The company has a market capitalization of $7.50 billion, a PE ratio of 43.44 and a beta of 0.59. Commvault Systems, Inc. has a one year low of $68.02 and a one year high of $173.01.

Commvault Systems (NASDAQ:CVLT - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The software maker reported $0.83 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 company had revenue of $233.28 million during the quarter, compared to the consensus estimate of $220.76 million. During the same quarter in the prior year, the firm posted $0.30 EPS. The firm's revenue for the quarter was up 16.1% compared to the same quarter last year. Sell-side analysts expect that Commvault Systems, Inc. will post 1.65 earnings per share for the current fiscal year.

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.