Jennison Associates LLC Purchases Shares of 7,761 Commvault Systems, Inc. (NASDAQ:CVLT)

Jennison Associates LLC acquired a new position in Commvault Systems, Inc. (NASDAQ:CVLT) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 7,761 shares of the software maker’s stock, valued at approximately $1,194,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CVLT. Caprock Group LLC bought a new stake in Commvault Systems in the third quarter worth approximately $249,000. Lindenwold Advisors INC grew its position in shares of Commvault Systems by 2.4% during the 3rd quarter. Lindenwold Advisors INC now owns 7,028 shares of the software maker’s stock worth $1,081,000 after buying an additional 164 shares during the period. Strengthening Families & Communities LLC increased its stake in shares of Commvault Systems by 11.2% in the 3rd quarter. Strengthening Families & Communities LLC now owns 17,791 shares of the software maker’s stock valued at $2,737,000 after acquiring an additional 1,791 shares in the last quarter. Sawgrass Asset Management LLC acquired a new position in shares of Commvault Systems during the 3rd quarter valued at $207,000. Finally, CIBC Asset Management Inc bought a new position in Commvault Systems during the third quarter worth $206,000. 93.50% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Commvault Systems news, CEO Sanjay Mirchandani sold 10,775 shares of the company’s stock in a transaction 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 owns 459,969 shares in the company, valued at $76,032,875.70. This represents a 2.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Allison Pickens sold 1,232 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were 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 of the company’s stock, valued at approximately $1,097,389.59. This represents a 14.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 30,918 shares of company stock valued at $4,843,242. Corporate insiders own 1.00% of the company’s stock.

Commvault Systems Trading Up 2.3 %

Shares of Commvault Systems stock opened at $174.60 on Friday. The company has a market capitalization of $7.64 billion, a P/E ratio of 44.20 and a beta of 0.59. The stock has a fifty day simple moving average of $156.18 and a 200 day simple moving average of $137.88. Commvault Systems, Inc. has a 12-month low of $70.30 and a 12-month high of $178.29.

Commvault Systems (NASDAQ:CVLT) last posted its earnings results 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 firm had revenue of $233.28 million during the quarter, compared to analyst estimates of $220.76 million. During the same quarter in the prior year, the business posted $0.30 EPS. The business’s revenue was up 16.1% compared to the same quarter last year. On average, analysts predict that Commvault Systems, Inc. will post 1.66 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CVLT. Oppenheimer started coverage on shares of Commvault Systems in a report on Wednesday, November 13th. They set an “outperform” rating and a $200.00 price objective on the stock. Royal Bank of Canada increased their price target on Commvault Systems from $164.00 to $182.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 30th. Guggenheim downgraded Commvault Systems from a “buy” rating to a “neutral” rating in a report on Tuesday, October 15th. StockNews.com cut Commvault Systems from a “strong-buy” rating to a “buy” rating in a report on Friday, November 1st. Finally, KeyCorp boosted their price target on shares of Commvault Systems from $140.00 to $170.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $151.25.

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.