Meeder Asset Management Inc. Takes Position in Commvault Systems, Inc. (NASDAQ:CVLT)

Meeder Asset Management Inc. purchased a new stake in Commvault Systems, Inc. (NASDAQ:CVLT) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 827 shares of the software maker’s stock, valued at approximately $101,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. National Bank of Canada FI acquired a new position in shares of Commvault Systems during the second quarter worth approximately $30,000. Hexagon Capital Partners LLC lifted its holdings in Commvault Systems by 124.8% during the 2nd quarter. Hexagon Capital Partners LLC now owns 353 shares of the software maker’s stock worth $43,000 after buying an additional 196 shares in the last quarter. Signaturefd LLC increased its stake in shares of Commvault Systems by 70.8% in the 2nd quarter. Signaturefd LLC now owns 410 shares of the software maker’s stock valued at $50,000 after buying an additional 170 shares during the period. Strategic Financial Concepts LLC bought a new stake in shares of Commvault Systems during the second quarter worth $56,000. Finally, GAMMA Investing LLC lifted its stake in shares of Commvault Systems by 140.5% during the second quarter. GAMMA Investing LLC now owns 529 shares of the software maker’s stock valued at $64,000 after acquiring an additional 309 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

Commvault Systems Stock Up 0.6 %

CVLT opened at $147.81 on Friday. The company has a fifty day simple moving average of $140.02 and a 200 day simple moving average of $118.10. The stock has a market cap of $6.46 billion, a P/E ratio of 39.31 and a beta of 0.60. Commvault Systems, Inc. has a 12 month low of $63.70 and a 12 month high of $157.13.

Commvault Systems (NASDAQ:CVLT) last released its quarterly earnings results on Tuesday, July 30th. The software maker reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.12. Commvault Systems had a return on equity of 32.16% and a net margin of 20.19%. The company had revenue of $224.67 million for the quarter, compared to analyst estimates of $215.54 million. During the same quarter last year, the firm posted $0.29 earnings per share. Commvault Systems’s revenue was up 13.4% compared to the same quarter last year. On average, equities research analysts expect that Commvault Systems, Inc. will post 1.66 earnings per share for the current fiscal year.

Insider Buying and Selling at Commvault Systems

In related news, insider Gary Merrill sold 17,388 shares of the firm’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $150.76, for a total transaction of $2,621,414.88. Following the sale, the insider now directly owns 94,530 shares in the company, valued at $14,251,342.80. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Commvault Systems news, insider Gary Merrill sold 17,388 shares of Commvault Systems stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $150.76, for a total value of $2,621,414.88. Following the sale, the insider now owns 94,530 shares of the company’s stock, valued at approximately $14,251,342.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Allison Pickens sold 1,232 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $153.89, for a total value of $189,592.48. Following the transaction, the director now directly owns 7,131 shares of the company’s stock, valued at $1,097,389.59. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on CVLT shares. 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. Piper Sandler raised their price objective on shares of Commvault Systems from $107.00 to $123.00 and gave the company a “neutral” rating in a research note on Monday, July 15th. StockNews.com cut shares of Commvault Systems from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 31st. Royal Bank of Canada increased their price target on Commvault Systems from $121.00 to $152.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 31st. Finally, KeyCorp lifted their price objective on Commvault Systems from $140.00 to $170.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $140.00.

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.