KBC Group NV Raises Stock Holdings in Commvault Systems, Inc. (NASDAQ:CVLT)

KBC Group NV grew its position in shares of Commvault Systems, Inc. (NASDAQ:CVLT) by 32.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,132 shares of the software maker’s stock after buying an additional 277 shares during the quarter. KBC Group NV’s holdings in Commvault Systems were worth $174,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of CVLT. SG Americas Securities LLC increased its stake in shares of Commvault Systems by 504.6% in the second quarter. SG Americas Securities LLC now owns 13,016 shares of the software maker’s stock worth $1,582,000 after purchasing an additional 10,863 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp purchased a new stake in shares of Commvault Systems in the first quarter worth $595,000. Intech Investment Management LLC bought a new position in shares of Commvault Systems during the second quarter worth $2,221,000. BOKF NA boosted its position in shares of Commvault Systems by 55.3% during the first quarter. BOKF NA now owns 3,119 shares of the software maker’s stock worth $313,000 after acquiring an additional 1,110 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Commvault Systems by 0.8% during the first quarter. Vanguard Group Inc. now owns 5,531,703 shares of the software maker’s stock worth $561,081,000 after acquiring an additional 43,333 shares during the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CVLT has been the subject of a number of research reports. StockNews.com lowered shares of Commvault Systems from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 1st. Royal Bank of Canada upped their target price on shares of Commvault Systems from $164.00 to $182.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 30th. Guggenheim lowered shares of Commvault Systems from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 15th. Oppenheimer assumed coverage on shares of Commvault Systems in a research report on Wednesday, November 13th. They set an “outperform” rating and a $200.00 target price for the company. Finally, KeyCorp increased their price objective 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. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $151.25.

Commvault Systems Price Performance

CVLT stock opened at $170.96 on Thursday. The company has a market capitalization of $7.48 billion, a PE ratio of 43.28 and a beta of 0.59. Commvault Systems, Inc. has a 12 month low of $69.71 and a 12 month high of $178.29. The firm’s 50-day moving average is $154.65 and its 200 day moving average is $136.95.

Commvault Systems (NASDAQ:CVLT) last posted its quarterly earnings results on Tuesday, October 29th. The software maker reported $0.83 EPS for the quarter, topping the consensus estimate 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%. The firm’s revenue was up 16.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.30 EPS. Sell-side analysts forecast that Commvault Systems, Inc. will post 1.66 EPS for the current fiscal year.

Insider Buying and Selling at Commvault Systems

In other news, CEO Sanjay Mirchandani sold 10,775 shares of Commvault Systems stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $165.30, for a total value of $1,781,107.50. Following the transaction, the chief executive officer now owns 459,969 shares of the company’s stock, valued at $76,032,875.70. The trade was a 2.29 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Gary Merrill sold 1,523 shares of Commvault Systems stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $164.89, for a total transaction of $251,127.47. Following the completion of the transaction, the insider now directly owns 93,007 shares in the company, valued at approximately $15,335,924.23. The trade was a 1.61 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 30,918 shares of company stock valued at $4,843,242. Company insiders own 1.00% of the company’s stock.

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.