Johnson Investment Counsel Inc. Takes $231,000 Position in Commvault Systems, Inc. (NASDAQ:CVLT)

Johnson Investment Counsel Inc. bought a new position in shares of Commvault Systems, Inc. (NASDAQ:CVLT) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 1,903 shares of the software maker’s stock, valued at approximately $231,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. EFG Asset Management North America Corp. lifted its position in shares of Commvault Systems by 0.5% in the 2nd quarter. EFG Asset Management North America Corp. now owns 21,699 shares of the software maker’s stock worth $2,637,000 after acquiring an additional 103 shares during the period. Natixis Advisors LLC raised its stake in shares of Commvault Systems by 1.0% in the second quarter. Natixis Advisors LLC now owns 13,693 shares of the software maker’s stock valued at $1,665,000 after purchasing an additional 138 shares in the last quarter. Commonwealth Equity Services LLC lifted its position in Commvault Systems by 5.4% in the second quarter. Commonwealth Equity Services LLC now owns 2,701 shares of the software maker’s stock worth $328,000 after purchasing an additional 139 shares during the period. Signaturefd LLC boosted its stake in Commvault Systems by 70.8% during the second quarter. Signaturefd LLC now owns 410 shares of the software maker’s stock worth $50,000 after buying an additional 170 shares in the last quarter. Finally, Arizona State Retirement System increased its holdings in Commvault Systems by 1.6% in the 2nd quarter. Arizona State Retirement System now owns 12,224 shares of the software maker’s stock valued at $1,486,000 after buying an additional 189 shares during the period. 93.50% of the stock is currently owned by institutional investors.

Insider Transactions at Commvault Systems

In other news, 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 value of $2,621,414.88. Following the transaction, the insider now directly owns 94,530 shares of the company’s stock, valued at approximately $14,251,342.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Commvault Systems news, Director Allison Pickens sold 1,232 shares of the company’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $153.89, for a total transaction of $189,592.48. Following the transaction, the director now owns 7,131 shares of the company’s stock, valued at approximately $1,097,389.59. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Gary Merrill sold 17,388 shares of the company’s 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 transaction, the insider now directly owns 94,530 shares in the company, valued at approximately $14,251,342.80. The disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.

Commvault Systems Price Performance

Shares of CVLT opened at $147.81 on Monday. The company has a market capitalization of $6.47 billion, a P/E ratio of 39.31 and a beta of 0.60. Commvault Systems, Inc. has a one year low of $63.70 and a one year high of $157.13. The business’s 50 day simple moving average is $140.02 and its 200-day simple moving average is $118.26.

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

Analyst Ratings Changes

CVLT has been the subject of a number of analyst reports. Royal Bank of Canada raised their price objective on shares of Commvault Systems from $121.00 to $152.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 31st. DA Davidson lifted their price objective on Commvault Systems from $170.00 to $175.00 and gave the company a “buy” rating in a report on Friday, September 6th. Piper Sandler lifted their price objective on Commvault Systems from $107.00 to $123.00 and gave the company a “neutral” rating in a report on Monday, July 15th. KeyCorp lifted their price objective on Commvault Systems from $140.00 to $170.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Finally, Guggenheim reaffirmed a “buy” rating and set a $122.00 price objective on shares of Commvault Systems in a report on Tuesday, June 25th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $140.00.

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.