Verition Fund Management LLC Increases Stake in Commvault Systems, Inc. (NASDAQ:CVLT)

Verition Fund Management LLC increased its stake in Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 301.5% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,725 shares of the software maker's stock after acquiring an additional 5,050 shares during the quarter. Verition Fund Management LLC's holdings in Commvault Systems were worth $1,035,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in CVLT. Renaissance Technologies LLC grew its position in shares of 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 purchasing an additional 126,800 shares during the period. Acadian Asset Management LLC increased its stake in Commvault Systems by 0.3% during the 2nd quarter. Acadian Asset Management LLC now owns 1,601,057 shares of the software maker's stock worth $194,606,000 after buying an additional 4,422 shares in the last quarter. AQR Capital Management LLC increased its stake in Commvault Systems by 33.5% during the 2nd quarter. AQR Capital Management LLC now owns 648,858 shares of the software maker's stock worth $78,882,000 after buying an additional 162,722 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Commvault Systems by 25.9% during 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 acquiring an additional 120,779 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Commvault Systems by 0.5% in the second quarter. Dimensional Fund Advisors LP now owns 523,474 shares of the software maker's stock valued at $63,637,000 after acquiring an additional 2,633 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Gary Merrill sold 1,523 shares of the firm's stock in a transaction on Monday, November 18th. The stock was sold at an average price of $164.89, for a total transaction of $251,127.47. Following the completion of the transaction, the insider now directly owns 93,007 shares in the company, valued at $15,335,924.23. This trade represents a 1.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Sanjay Mirchandani sold 10,775 shares of the firm's stock in a transaction that occurred on 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 transaction, the chief executive officer now directly 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 disclosure for this sale can be found here. Insiders sold a total of 13,530 shares of company stock valued at $2,244,755 over the last 90 days. 1.00% of the stock is owned by company insiders.

Commvault Systems Price Performance

CVLT traded down $3.54 during trading hours on Monday, reaching $172.21. The company's stock had a trading volume of 301,956 shares, compared to its average volume of 355,223. The stock has a market cap of $7.53 billion, a PE ratio of 43.60 and a beta of 0.61. Commvault Systems, Inc. has a fifty-two week low of $73.33 and a fifty-two week high of $178.72. The business's 50-day moving average is $160.85 and its 200-day moving average is $143.13.

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 the consensus estimate of $0.76 by $0.07. The business had revenue of $233.28 million for the quarter, compared to analyst estimates of $220.76 million. Commvault Systems had a return on equity of 31.62% and a net margin of 19.75%. The company's quarterly revenue was up 16.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.30 EPS. Analysts expect that Commvault Systems, Inc. will post 1.66 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently commented on CVLT. Royal Bank of Canada increased their price objective on Commvault Systems from $164.00 to $182.00 and gave the company a "sector perform" rating in a research note on Wednesday, October 30th. StockNews.com cut shares of Commvault Systems from a "strong-buy" rating to a "buy" rating in a research report on Friday, November 1st. DA Davidson raised their price target on shares of Commvault Systems from $170.00 to $175.00 and gave the stock a "buy" rating in a research note on Friday, September 6th. Oppenheimer assumed coverage on shares of Commvault Systems in a research note on Wednesday, November 13th. They set an "outperform" rating and a $200.00 price objective for the company. Finally, Guggenheim lowered shares of Commvault Systems from a "buy" rating to a "neutral" rating in a research note on Tuesday, October 15th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Commvault Systems presently has a consensus rating of "Moderate Buy" and an average price target 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.