Citigroup Inc. Acquires 28,408 Shares of Commvault Systems, Inc. (NASDAQ:CVLT)

Citigroup Inc. grew its holdings in Commvault Systems, Inc. (NASDAQ:CVLT) by 146.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 47,867 shares of the software maker’s stock after purchasing an additional 28,408 shares during the quarter. Citigroup Inc. owned about 0.11% of Commvault Systems worth $7,364,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CVLT. Xponance Inc. grew its holdings in Commvault Systems by 1.3% during the 2nd quarter. Xponance Inc. now owns 6,371 shares of the software maker’s stock worth $775,000 after acquiring an additional 79 shares during the last quarter. EFG Asset Management North America Corp. grew its stake in shares of Commvault Systems by 0.5% during the second quarter. EFG Asset Management North America Corp. now owns 21,699 shares of the software maker’s stock valued at $2,637,000 after purchasing an additional 103 shares during the last quarter. Natixis Advisors LLC increased its holdings 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 raised its position in Commvault Systems by 5.4% in the 2nd 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 last quarter. Finally, Parallel Advisors LLC lifted its holdings in Commvault Systems by 5.9% during the 2nd quarter. Parallel Advisors LLC now owns 2,749 shares of the software maker’s stock worth $334,000 after buying an additional 153 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. StockNews.com cut Commvault Systems from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 1st. DA Davidson boosted 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. Guggenheim lowered shares of Commvault Systems from a “buy” rating to a “neutral” rating in a research note on Tuesday, October 15th. Oppenheimer initiated coverage on shares of Commvault Systems in a research report on Wednesday, November 13th. They set an “outperform” rating and a $200.00 price target for the company. 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 report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Commvault Systems has a consensus rating of “Moderate Buy” and a consensus price target of $151.25.

Insider Activity

In other Commvault Systems news, CEO Sanjay Mirchandani sold 10,775 shares of the business’s stock in a transaction that occurred on 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Gary Merrill sold 1,523 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $164.89, for a total value of $251,127.47. Following the sale, the insider now owns 93,007 shares in the company, valued at approximately $15,335,924.23. This represents a 1.61 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

Commvault Systems Stock Down 0.0 %

Shares of CVLT stock opened at $171.59 on Friday. The firm has a market capitalization of $7.50 billion, a price-to-earnings ratio of 43.44 and a beta of 0.59. Commvault Systems, Inc. has a 12-month low of $72.76 and a 12-month high of $178.72. The firm has a fifty day moving average of $158.48 and a 200-day moving average of $140.31.

Commvault Systems (NASDAQ:CVLT) last released its quarterly earnings data on Tuesday, October 29th. The software maker reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.07. Commvault Systems had a return on equity of 31.62% and a net margin of 19.75%. The business had revenue of $233.28 million for the quarter, compared to analysts’ expectations of $220.76 million. During the same quarter in the previous year, the business posted $0.30 EPS. Commvault Systems’s revenue for the quarter was up 16.1% on a year-over-year basis. Research analysts expect that Commvault Systems, Inc. will post 1.66 earnings per share for the current year.

Commvault Systems 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.