Congress Asset Management Co. Acquires 111,715 Shares of Commvault Systems, Inc. (NASDAQ:CVLT)

Congress Asset Management Co. raised its stake in Commvault Systems, Inc. (NASDAQ:CVLT) by 29.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 492,162 shares of the software maker’s stock after acquiring an additional 111,715 shares during the quarter. Congress Asset Management Co. owned approximately 1.12% of Commvault Systems worth $75,719,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in CVLT. National Bank of Canada FI bought a new stake in shares of Commvault Systems in the 2nd quarter valued at about $30,000. Hexagon Capital Partners LLC increased its position in Commvault Systems by 124.8% during 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 raised its holdings in Commvault Systems by 70.8% during 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 lifted its position in shares of Commvault Systems by 140.5% in the 2nd 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 bought a new stake in shares of Commvault Systems in the 2nd quarter valued at $69,000. 93.50% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Commvault Systems news, insider Gary Merrill sold 17,388 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $150.76, for a total value of $2,621,414.88. Following the completion of the sale, the insider now owns 94,530 shares in the company, valued at approximately $14,251,342.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, insider Gary Merrill sold 17,388 shares of the firm’s stock in a transaction 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 $14,251,342.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Allison Pickens sold 1,232 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was 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 directly owns 7,131 shares in the company, 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. Insiders own 1.00% of the company’s stock.

Commvault Systems Price Performance

Shares of NASDAQ:CVLT traded down $4.46 during midday trading on Thursday, hitting $157.79. 74,206 shares of the company’s stock were exchanged, compared to its average volume of 352,382. Commvault Systems, Inc. has a 12 month low of $64.32 and a 12 month high of $171.26. The company has a market cap of $6.91 billion, a PE ratio of 43.15 and a beta of 0.60. The stock has a 50 day moving average price of $149.72 and a 200-day moving average price of $129.96.

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

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CVLT. Royal Bank of Canada boosted their target price on shares of Commvault Systems from $164.00 to $182.00 and gave the company a “sector perform” rating in a report on Wednesday. StockNews.com upgraded Commvault Systems from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 24th. DA Davidson increased their price target on Commvault Systems from $170.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Guggenheim downgraded shares of Commvault Systems from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 15th. Finally, KeyCorp raised their price target on shares of Commvault Systems from $140.00 to $170.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Four research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $144.29.

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.