Vestcor Inc Purchases 76,749 Shares of Commvault Systems, Inc. (NASDAQ:CVLT)

Vestcor Inc boosted its stake in Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 1,552.4% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 81,693 shares of the software maker's stock after purchasing an additional 76,749 shares during the period. Vestcor Inc owned about 0.19% of Commvault Systems worth $12,568,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in CVLT. National Bank of Canada FI acquired a new stake in Commvault Systems in the 2nd quarter valued at about $30,000. Capital Performance Advisors LLP bought a new stake in shares of Commvault Systems in the 3rd quarter worth approximately $33,000. Signaturefd LLC increased its position in Commvault Systems by 70.8% in the 2nd quarter. Signaturefd LLC now owns 410 shares of the software maker's stock valued at $50,000 after acquiring an additional 170 shares during the period. Strategic Financial Concepts LLC acquired a new position in shares of Commvault Systems during the second quarter valued at approximately $56,000. Finally, DT Investment Partners LLC acquired a new stake in shares of Commvault Systems during the 2nd quarter valued at $69,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Commvault Systems

In other Commvault Systems news, Director Allison Pickens sold 1,232 shares of the business's stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $172.50, for a total value of $212,520.00. Following the transaction, the director now owns 5,899 shares in the company, valued at approximately $1,017,577.50. The trade was a 17.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sanjay Mirchandani sold 10,775 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer now owns 459,969 shares of the company's stock, valued at approximately $76,032,875.70. This trade represents a 2.29 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,530 shares of company stock worth $2,244,755. 1.00% of the stock is currently owned by insiders.

Commvault Systems Stock Up 0.5 %

Commvault Systems stock traded up $0.91 during trading on Tuesday, hitting $173.12. The stock had a trading volume of 271,057 shares, compared to its average volume of 354,870. The stock's 50 day moving average is $161.32 and its two-hundred day moving average is $143.57. The stock has a market cap of $7.57 billion, a price-to-earnings ratio of 43.83 and a beta of 0.61. Commvault Systems, Inc. has a 1 year low of $73.33 and a 1 year high of $178.72.

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 firm 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 business's quarterly revenue was up 16.1% compared to the same quarter last year. During the same period last year, the firm earned $0.30 EPS. As a group, equities research analysts anticipate that Commvault Systems, Inc. will post 1.66 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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