Emerald Advisers LLC Buys New Position in Commvault Systems, Inc. (NASDAQ:CVLT)

Emerald Advisers LLC bought a new stake in Commvault Systems, Inc. (NASDAQ:CVLT) during the 3rd quarter, Holdings Channel.com reports. The firm bought 69,525 shares of the software maker’s stock, valued at approximately $10,696,000.

Other institutional investors have also added to or reduced their stakes in the company. SG Americas Securities LLC boosted its holdings in Commvault Systems by 504.6% in the second quarter. SG Americas Securities LLC now owns 13,016 shares of the software maker’s stock valued at $1,582,000 after acquiring an additional 10,863 shares during the last quarter. Ontario Teachers Pension Plan Board boosted its holdings in Commvault Systems by 23.4% in the first quarter. Ontario Teachers Pension Plan Board now owns 25,770 shares of the software maker’s stock valued at $2,614,000 after acquiring an additional 4,888 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp bought a new stake in Commvault Systems in the first quarter valued at approximately $595,000. Intech Investment Management LLC bought a new stake in Commvault Systems in the second quarter valued at approximately $2,221,000. Finally, BOKF NA boosted its holdings 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 buying an additional 1,110 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors.

Insider Activity at Commvault Systems

In related news, insider Gary Merrill sold 17,388 shares of the stock in a transaction on Tuesday, August 27th. The stock was 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 directly owns 94,530 shares of the company’s stock, valued at approximately $14,251,342.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Gary Merrill sold 17,388 shares of the stock in a transaction on Tuesday, August 27th. The stock was 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 directly owns 94,530 shares of the company’s stock, valued at approximately $14,251,342.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Allison Pickens sold 1,232 shares of the 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 directly owns 7,131 shares of the company’s stock, valued at $1,097,389.59. The trade was 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 currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Piper Sandler increased their price target on Commvault Systems from $107.00 to $123.00 and gave the stock a “neutral” rating in a report on Monday, July 15th. KeyCorp increased their price target 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 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 cut Commvault Systems from a “buy” rating to a “neutral” rating in a report on Tuesday, October 15th. Finally, Royal Bank of Canada increased their price target on Commvault Systems from $164.00 to $182.00 and gave the stock a “sector perform” rating in a report on Wednesday. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $144.29.

Commvault Systems Trading Down 0.3 %

Shares of CVLT traded down $0.50 during trading hours on Friday, reaching $155.69. The stock had a trading volume of 437,408 shares, compared to its average volume of 448,649. Commvault Systems, Inc. has a 12 month low of $65.43 and a 12 month high of $171.26. The firm has a 50-day simple moving average of $149.93 and a 200 day simple moving average of $130.82. The company has a market capitalization of $6.81 billion, a price-to-earnings ratio of 39.42 and a beta of 0.59.

Commvault Systems (NASDAQ:CVLT) last issued its earnings results on Tuesday, October 29th. The software maker reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.07. The company had revenue of $233.28 million for the quarter, compared to analysts’ expectations of $220.76 million. Commvault Systems had a return on equity of 31.62% and a net margin of 19.75%. Commvault Systems’s quarterly revenue was up 16.1% compared to the same quarter last year. During the same period last year, the business earned $0.30 EPS. On average, equities analysts forecast that Commvault Systems, Inc. will post 1.68 EPS for the current 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.