Caprock Group LLC Purchases New Shares in Commvault Systems, Inc. (NASDAQ:CVLT)

Caprock Group LLC acquired a new position in shares of Commvault Systems, Inc. (NASDAQ:CVLT) during the 3rd quarter, HoldingsChannel reports. The institutional investor acquired 1,618 shares of the software maker’s stock, valued at approximately $249,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Lindenwold Advisors INC lifted its position in shares of Commvault Systems by 2.4% in the 3rd quarter. Lindenwold Advisors INC now owns 7,028 shares of the software maker’s stock valued at $1,081,000 after acquiring an additional 164 shares in the last quarter. Strengthening Families & Communities LLC lifted its holdings in shares of Commvault Systems by 11.2% in the third quarter. Strengthening Families & Communities LLC now owns 17,791 shares of the software maker’s stock valued at $2,737,000 after purchasing an additional 1,791 shares in the last quarter. Sawgrass Asset Management LLC acquired a new stake in shares of Commvault Systems in the third quarter worth $207,000. CIBC Asset Management Inc purchased a new position in shares of Commvault Systems during the third quarter valued at $206,000. Finally, KBC Group NV grew its holdings in shares of Commvault Systems by 32.4% during the third quarter. KBC Group NV now owns 1,132 shares of the software maker’s stock valued at $174,000 after buying an additional 277 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Commvault Systems

In other Commvault Systems news, insider Gary Merrill sold 17,388 shares of Commvault Systems 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 sale, the insider now directly owns 94,530 shares of the company’s stock, valued at approximately $14,251,342.80. The trade was a 15.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 transaction, the chief executive officer now directly owns 459,969 shares of the company’s stock, valued at approximately $76,032,875.70. The trade was a 2.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 30,918 shares of company stock valued at $4,843,242 in the last quarter. Corporate insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on CVLT. StockNews.com cut Commvault Systems from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 1st. DA Davidson upped their price objective on shares of Commvault Systems from $170.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Oppenheimer assumed coverage on shares of Commvault Systems in a research note on Wednesday, November 13th. They set an “outperform” rating and a $200.00 target price for the company. KeyCorp lifted their price objective on Commvault Systems from $140.00 to $170.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Finally, Guggenheim downgraded Commvault Systems from a “buy” rating to a “neutral” rating in a research note on Tuesday, October 15th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $151.25.

Commvault Systems Stock Performance

CVLT opened at $174.60 on Monday. The firm has a market cap of $7.64 billion, a P/E ratio of 44.20 and a beta of 0.59. The business has a 50 day moving average price of $156.18 and a 200 day moving average price of $138.08. Commvault Systems, Inc. has a twelve month low of $70.30 and a twelve month high of $178.29.

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. Commvault Systems had a net margin of 19.75% and a return on equity of 31.62%. The business had revenue of $233.28 million during the quarter, compared to the consensus estimate of $220.76 million. During the same period in the prior year, the firm earned $0.30 EPS. Commvault Systems’s quarterly revenue was up 16.1% compared to the same quarter last year. As a group, analysts anticipate that Commvault Systems, Inc. will post 1.66 earnings per share for the current fiscal year.

Commvault Systems Company 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.