Envestnet Asset Management Inc. Increases Stock Holdings in Commvault Systems, Inc. (NASDAQ:CVLT)

Envestnet Asset Management Inc. boosted its stake in Commvault Systems, Inc. (NASDAQ:CVLT) by 30.8% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 57,198 shares of the software maker’s stock after acquiring an additional 13,472 shares during the quarter. Envestnet Asset Management Inc. owned about 0.13% of Commvault Systems worth $6,954,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. SG Americas Securities LLC boosted 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 valued at $1,582,000 after purchasing an additional 10,863 shares during the period. Ontario Teachers Pension Plan Board increased its position in shares of Commvault Systems by 23.4% during the first quarter. Ontario Teachers Pension Plan Board now owns 25,770 shares of the software maker’s stock worth $2,614,000 after acquiring an additional 4,888 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp purchased a new stake in shares of Commvault Systems during the first quarter worth about $595,000. BOKF NA lifted its stake in shares of Commvault Systems by 55.3% in the first quarter. BOKF NA now owns 3,119 shares of the software maker’s stock worth $313,000 after acquiring an additional 1,110 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Commvault Systems in the fourth quarter valued at about $3,092,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Commvault Systems Stock Down 0.4 %

CVLT opened at $151.82 on Friday. The company’s 50-day moving average price is $145.94 and its 200 day moving average price is $121.71. Commvault Systems, Inc. has a fifty-two week low of $63.70 and a fifty-two week high of $157.13. The firm has a market cap of $6.64 billion, a price-to-earnings ratio of 40.38 and a beta of 0.60.

Commvault Systems (NASDAQ:CVLT) last issued its earnings results on Tuesday, July 30th. The software maker reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.12. The firm had revenue of $224.67 million for the quarter, compared to analyst estimates of $215.54 million. Commvault Systems had a return on equity of 32.16% and a net margin of 20.19%. The firm’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same period last year, the company earned $0.29 earnings per share. Research analysts anticipate that Commvault Systems, Inc. will post 1.66 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. KeyCorp upped their target price on Commvault Systems from $140.00 to $170.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. DA Davidson increased their price objective on shares of Commvault Systems from $170.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Guggenheim reissued a “buy” rating and set a $122.00 price objective on shares of Commvault Systems in a report on Tuesday, June 25th. StockNews.com lowered shares of Commvault Systems from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 31st. Finally, Piper Sandler lifted their price target on Commvault Systems from $107.00 to $123.00 and gave the stock a “neutral” rating in a research note on Monday, July 15th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $140.00.

Insider Buying and Selling at Commvault Systems

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