440,182 Shares in Commvault Systems, Inc. (NASDAQ:CVLT) Purchased by Summit Partners Public Asset Management LLC

Summit Partners Public Asset Management LLC acquired a new stake in shares of Commvault Systems, Inc. (NASDAQ:CVLT) during the 3rd quarter, Holdings Channel reports. The fund acquired 440,182 shares of the software maker’s stock, valued at approximately $67,722,000. Commvault Systems accounts for about 2.1% of Summit Partners Public Asset Management LLC’s investment portfolio, making the stock its 9th largest holding.

Other institutional investors and hedge funds have also bought and sold shares of the company. SG Americas Securities LLC raised 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 during the last quarter. Intech Investment Management LLC bought a new stake in Commvault Systems in the 2nd quarter worth about $2,221,000. Charles Schwab Investment Management Inc. raised its position in Commvault Systems by 25.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 586,795 shares of the software maker’s stock worth $90,278,000 after buying an additional 120,779 shares during the last quarter. Ellsworth Advisors LLC bought a new position in Commvault Systems during the 2nd quarter valued at about $495,000. Finally, Vontobel Holding Ltd. purchased a new stake in shares of Commvault Systems during the 3rd quarter valued at about $1,126,000. 93.50% of the stock is currently owned by institutional investors.

Commvault Systems Stock Performance

NASDAQ CVLT opened at $171.63 on Friday. The business’s fifty day moving average is $158.09 and its 200 day moving average is $139.65. Commvault Systems, Inc. has a fifty-two week low of $72.20 and a fifty-two week high of $178.72. The company has a market capitalization of $7.51 billion, a PE ratio of 43.45 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 for the quarter, beating analysts’ consensus estimates of $0.76 by $0.07. The firm had revenue of $233.28 million for the quarter, compared to analysts’ expectations of $220.76 million. Commvault Systems had a return on equity of 31.62% and a net margin of 19.75%. The business’s quarterly revenue was up 16.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.30 EPS. On average, sell-side analysts forecast that Commvault Systems, Inc. will post 1.66 EPS for the current year.

Insider Buying and Selling at Commvault Systems

In related news, CEO Sanjay Mirchandani sold 10,775 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $165.30, for a total transaction of $1,781,107.50. Following the completion of the sale, the chief executive officer now owns 459,969 shares in the company, valued at approximately $76,032,875.70. This trade represents a 2.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Gary Merrill sold 1,523 shares of Commvault Systems stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $164.89, for a total value of $251,127.47. Following the sale, the insider now directly owns 93,007 shares in the company, valued at $15,335,924.23. This trade represents a 1.61 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

CVLT has been the subject of several research reports. Guggenheim cut shares of Commvault Systems from a “buy” rating to a “neutral” rating in a report on Tuesday, October 15th. Oppenheimer began coverage on shares of Commvault Systems in a research report on Wednesday, November 13th. They issued an “outperform” rating and a $200.00 target price for the company. Royal Bank of Canada increased their price target on Commvault Systems from $164.00 to $182.00 and gave the company a “sector perform” rating in a report on Wednesday, October 30th. DA Davidson lifted their price objective on Commvault Systems from $170.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Finally, StockNews.com downgraded Commvault Systems from a “strong-buy” rating to a “buy” rating in a report on Friday, November 1st. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $151.25.

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.