CWA Asset Management Group LLC Invests $1.02 Million in Commvault Systems, Inc. (NASDAQ:CVLT)

CWA Asset Management Group LLC bought a new position in shares of Commvault Systems, Inc. (NASDAQ:CVLT) in the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 6,639 shares of the software maker’s stock, valued at approximately $1,021,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Capital Performance Advisors LLP acquired a new position in shares of Commvault Systems in the 3rd quarter worth approximately $33,000. Portside Wealth Group LLC acquired a new position in Commvault Systems in the third quarter valued at about $506,000. Olympiad Research LP grew its holdings in shares of Commvault Systems by 36.9% in the 3rd quarter. Olympiad Research LP now owns 3,019 shares of the software maker’s stock valued at $464,000 after buying an additional 813 shares during the period. Angeles Wealth Management LLC bought a new stake in Commvault Systems during the 3rd quarter worth approximately $726,000. Finally, Emerald Advisers LLC bought a new position in Commvault Systems during the 3rd quarter worth about $10,696,000. 93.50% of the stock is owned by institutional investors.

Commvault Systems Trading Down 0.0 %

Shares of CVLT opened at $171.57 on Monday. The stock’s 50-day moving average price is $151.33 and its two-hundred day moving average price is $133.56. Commvault Systems, Inc. has a 12 month low of $68.02 and a 12 month high of $173.01. The company has a market capitalization of $7.50 billion, a PE ratio of 43.44 and a beta of 0.59.

Commvault Systems (NASDAQ:CVLT) last released its earnings results on Tuesday, October 29th. The software maker reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.07. The company had revenue of $233.28 million for the quarter, compared to the consensus estimate of $220.76 million. Commvault Systems had a net margin of 19.75% and a return on equity of 31.62%. Commvault Systems’s quarterly revenue was up 16.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.30 EPS. Equities research analysts predict that Commvault Systems, Inc. will post 1.65 EPS for the current fiscal year.

Insider Activity at Commvault Systems

In other Commvault Systems 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 transaction, the insider now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Commvault Systems news, Director Allison Pickens sold 1,232 shares of the business’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $153.89, for a total value of $189,592.48. Following the sale, the director now directly owns 7,131 shares in the company, valued at $1,097,389.59. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Gary Merrill sold 17,388 shares of the company’s stock in a transaction dated 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 directly owns 94,530 shares in the company, valued at approximately $14,251,342.80. This trade represents 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.

Analyst Ratings Changes

A number of research firms recently issued reports on CVLT. StockNews.com downgraded Commvault Systems from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 1st. DA Davidson raised their price objective on Commvault Systems from $170.00 to $175.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. KeyCorp boosted their target price on shares of Commvault Systems from $140.00 to $170.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Piper Sandler upped their price objective on Commvault Systems from $107.00 to $123.00 and gave the stock a “neutral” rating in a research report on Monday, July 15th. Finally, Royal Bank of Canada increased their price objective on shares of Commvault Systems from $164.00 to $182.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 30th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Commvault Systems presently has a consensus rating of “Moderate Buy” and an average target price of $144.29.

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.