Sawgrass Asset Management LLC Makes New Investment in Commvault Systems, Inc. (NASDAQ:CVLT)

Sawgrass Asset Management LLC acquired a new stake in shares of Commvault Systems, Inc. (NASDAQ:CVLT) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,343 shares of the software maker’s stock, valued at approximately $207,000.

A number of other large investors have also modified their holdings of the company. AQR Capital Management LLC increased its holdings in Commvault Systems by 33.5% in the 2nd quarter. AQR Capital Management LLC now owns 648,858 shares of the software maker’s stock valued at $78,882,000 after buying an additional 162,722 shares during the period. Renaissance Technologies LLC raised its position in Commvault Systems by 7.5% in the second quarter. Renaissance Technologies LLC now owns 1,813,487 shares of the software maker’s stock worth $220,466,000 after purchasing an additional 126,800 shares in the last quarter. Congress Asset Management Co. lifted its stake in Commvault Systems by 29.4% during the third quarter. Congress Asset Management Co. now owns 492,162 shares of the software maker’s stock worth $75,719,000 after purchasing an additional 111,715 shares during the period. M&G Plc acquired a new stake in Commvault Systems during the second quarter valued at approximately $10,265,000. Finally, CANADA LIFE ASSURANCE Co grew its stake in shares of Commvault Systems by 247.1% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 110,567 shares of the software maker’s stock valued at $11,205,000 after purchasing an additional 78,713 shares during the period. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently commented on CVLT. Guggenheim lowered Commvault Systems from a “buy” rating to a “neutral” rating in a research note on Tuesday, October 15th. Oppenheimer assumed coverage on shares of Commvault Systems in a research note on Wednesday, November 13th. They issued an “outperform” rating and a $200.00 target price on the stock. DA Davidson increased their target price 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 lowered shares of Commvault Systems from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 1st. Finally, KeyCorp raised their price objective 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 investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Commvault Systems currently has a consensus rating of “Moderate Buy” and a consensus target price of $151.25.

Insider Activity at Commvault Systems

In other Commvault Systems news, Director Allison Pickens sold 1,232 shares of the firm’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 value of $189,592.48. Following the transaction, the director now directly owns 7,131 shares of the company’s stock, valued at approximately $1,097,389.59. This trade represents a 14.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Gary Merrill sold 17,388 shares of the company’s stock in a transaction 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 sale, the insider now owns 94,530 shares of the company’s stock, valued at $14,251,342.80. The trade was a 15.54 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.

Commvault Systems Trading Down 1.5 %

Shares of CVLT stock opened at $168.53 on Monday. Commvault Systems, Inc. has a 1 year low of $68.02 and a 1 year high of $178.29. The firm’s 50 day moving average is $153.68 and its 200-day moving average is $135.85. The firm has a market capitalization of $7.37 billion, a price-to-earnings ratio of 42.67 and a beta of 0.59.

Commvault Systems (NASDAQ:CVLT) last posted its quarterly earnings data on Tuesday, October 29th. The software maker reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.07. The firm had revenue of $233.28 million for the quarter, compared to the consensus estimate of $220.76 million. Commvault Systems had a return on equity of 31.62% and a net margin of 19.75%. The business’s revenue for the quarter was up 16.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.30 EPS. On average, equities research analysts forecast that Commvault Systems, Inc. will post 1.66 earnings per share 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.