Fmr LLC Increases Stock Position in Commvault Systems, Inc. (NASDAQ:CVLT)

Fmr LLC boosted its holdings in Commvault Systems, Inc. (NASDAQ:CVLT) by 26.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 466,315 shares of the software maker’s stock after buying an additional 96,525 shares during the period. Fmr LLC’s holdings in Commvault Systems were worth $71,743,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of CVLT. SG Americas Securities LLC boosted its position 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 valued at $1,582,000 after acquiring an additional 10,863 shares during the period. Intech Investment Management LLC bought a new position in Commvault Systems in the 2nd quarter valued at $2,221,000. Charles Schwab Investment Management Inc. grew its position in shares of Commvault Systems by 25.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 586,795 shares of the software maker’s stock valued at $90,278,000 after purchasing an additional 120,779 shares in the last quarter. Ellsworth Advisors LLC bought a new position in shares of Commvault Systems in the second quarter worth $495,000. Finally, Vontobel Holding Ltd. bought a new position in shares of Commvault Systems in the third quarter worth $1,126,000. Institutional investors own 93.50% of the company’s stock.

Commvault Systems Stock Performance

Shares of Commvault Systems stock opened at $175.75 on Friday. Commvault Systems, Inc. has a 52-week low of $73.33 and a 52-week high of $178.72. The company has a fifty day moving average of $160.48 and a 200-day moving average of $142.25. The stock has a market capitalization of $7.68 billion, a price-to-earnings ratio of 44.49 and a beta of 0.61.

Commvault Systems (NASDAQ:CVLT) last released its quarterly earnings data on Tuesday, October 29th. The software maker reported $0.83 EPS for the quarter, topping 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 firm had revenue of $233.28 million for the quarter, compared to the consensus estimate of $220.76 million. During the same quarter in the previous year, the business earned $0.30 earnings per share. The company’s quarterly revenue was up 16.1% on a year-over-year basis. On average, equities research analysts forecast that Commvault Systems, Inc. will post 1.66 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Insider Activity

In other Commvault Systems news, 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 transaction of $251,127.47. Following the completion of the transaction, the insider now owns 93,007 shares of the company’s stock, valued at $15,335,924.23. This represents a 1.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Sanjay Mirchandani sold 10,775 shares of Commvault Systems stock in a transaction that occurred 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 sale, the chief executive officer now owns 459,969 shares in the company, valued at approximately $76,032,875.70. This represents a 2.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 13,530 shares of company stock valued at $2,244,755. 1.00% of the stock is currently owned by company insiders.

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.