Renaissance Technologies LLC Acquires 126,800 Shares of Commvault Systems, Inc. (NASDAQ:CVLT)

Renaissance Technologies LLC lifted its holdings in Commvault Systems, Inc. (NASDAQ:CVLT) by 7.5% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 1,813,487 shares of the software maker’s stock after buying an additional 126,800 shares during the period. Renaissance Technologies LLC’s holdings in Commvault Systems were worth $220,466,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. SG Americas Securities LLC boosted its stake in shares of Commvault Systems by 504.6% during the 2nd quarter. SG Americas Securities LLC now owns 13,016 shares of the software maker’s stock worth $1,582,000 after purchasing an additional 10,863 shares during the period. Ontario Teachers Pension Plan Board boosted its stake in shares of Commvault Systems by 23.4% during the 1st quarter. Ontario Teachers Pension Plan Board now owns 25,770 shares of the software maker’s stock worth $2,614,000 after purchasing an additional 4,888 shares during the period. Mitsubishi UFJ Trust & Banking Corp purchased a new position in shares of Commvault Systems during the 1st quarter worth about $595,000. BOKF NA boosted its stake in shares of Commvault Systems by 55.3% during the 1st quarter. BOKF NA now owns 3,119 shares of the software maker’s stock worth $313,000 after purchasing an additional 1,110 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Commvault Systems during the 4th quarter worth about $3,092,000. 93.50% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CVLT has been the subject of a number of recent analyst reports. KeyCorp lifted their price target on shares of Commvault Systems from $140.00 to $170.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Piper Sandler boosted 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. Royal Bank of Canada boosted their price objective on shares of Commvault Systems from $121.00 to $152.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 31st. Guggenheim reissued a “buy” rating and issued a $122.00 price objective on shares of Commvault Systems in a research report on Tuesday, June 25th. Finally, StockNews.com cut shares of Commvault Systems from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 31st. Three 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $140.00.

Insider Buying and Selling

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 shares were sold at an average price of $150.76, for a total transaction of $2,621,414.88. Following the completion of the transaction, the insider now owns 94,530 shares in the company, valued at approximately $14,251,342.80. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Allison Pickens sold 1,232 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $153.89, for a total transaction of $189,592.48. Following the completion of the transaction, the director now owns 7,131 shares in the company, valued at approximately $1,097,389.59. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 owns 94,530 shares of the company’s stock, valued at approximately $14,251,342.80. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by company insiders.

Commvault Systems Stock Performance

NASDAQ:CVLT opened at $147.81 on Monday. Commvault Systems, Inc. has a one year low of $63.70 and a one year high of $157.13. The firm has a market cap of $6.47 billion, a P/E ratio of 39.31 and a beta of 0.60. The firm has a 50-day simple moving average of $140.02 and a 200-day simple moving average of $118.26.

Commvault Systems (NASDAQ:CVLT) last posted its quarterly earnings results on Tuesday, July 30th. The software maker reported $0.85 EPS for the quarter, beating the consensus estimate of $0.73 by $0.12. Commvault Systems had a net margin of 20.19% and a return on equity of 32.16%. The business had revenue of $224.67 million during the quarter, compared to analyst estimates of $215.54 million. During the same quarter in the previous year, the business posted $0.29 EPS. The company’s quarterly revenue was up 13.4% compared to the same quarter last year. On average, research analysts predict that Commvault Systems, Inc. will post 1.66 EPS for the current fiscal year.

Commvault Systems 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.