International Assets Investment Management LLC Takes $4.14 Million Position in Commvault Systems, Inc. (NASDAQ:CVLT)

International Assets Investment Management LLC purchased a new position in shares of Commvault Systems, Inc. (NASDAQ:CVLT) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 26,924 shares of the software maker’s stock, valued at approximately $4,142,000.

A number of other large investors also recently modified their holdings of the company. National Bank of Canada FI purchased a new position in shares of Commvault Systems in the 2nd quarter valued at $30,000. Hexagon Capital Partners LLC boosted its position in shares of Commvault Systems by 124.8% in the second quarter. Hexagon Capital Partners LLC now owns 353 shares of the software maker’s stock worth $43,000 after buying an additional 196 shares during the period. Signaturefd LLC raised its holdings in shares of Commvault Systems by 70.8% during 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 acquired a new position in Commvault Systems during the 2nd quarter worth approximately $56,000. Finally, GAMMA Investing LLC boosted its holdings in Commvault Systems by 140.5% in the 2nd quarter. GAMMA Investing LLC now owns 529 shares of the software maker’s stock worth $64,000 after acquiring an additional 309 shares during the period. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on CVLT. KeyCorp raised their price target on shares of Commvault Systems from $140.00 to $170.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. DA Davidson boosted their price target on Commvault Systems from $170.00 to $175.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Royal Bank of Canada increased their target price on Commvault Systems from $164.00 to $182.00 and gave the company a “sector perform” rating in a research note on Wednesday. Guggenheim cut shares of Commvault Systems from a “buy” rating to a “neutral” rating in a report on Tuesday, October 15th. Finally, StockNews.com lowered shares of Commvault Systems from a “strong-buy” rating to a “buy” rating in a report on Friday. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Commvault Systems has a consensus rating of “Moderate Buy” and an average target price of $144.29.

Insiders Place Their Bets

In other news, Director Allison Pickens sold 1,232 shares of the 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 completion of the sale, the director now owns 7,131 shares in the company, valued at approximately $1,097,389.59. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Commvault Systems news, insider Gary Merrill sold 17,388 shares of Commvault Systems stock in a transaction that occurred 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 transaction, the insider now directly owns 94,530 shares in the company, valued at approximately $14,251,342.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Allison Pickens sold 1,232 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $153.89, for a total transaction of $189,592.48. Following the sale, the director now directly owns 7,131 shares in the company, valued at approximately $1,097,389.59. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.

Commvault Systems Price Performance

Shares of Commvault Systems stock opened at $155.69 on Friday. Commvault Systems, Inc. has a 1-year low of $65.43 and a 1-year high of $171.26. The company has a market capitalization of $6.81 billion, a P/E ratio of 39.42 and a beta of 0.60. The business’s fifty day moving average price is $149.93 and its two-hundred day moving average price is $130.57.

Commvault Systems (NASDAQ:CVLT) last announced its earnings results on Tuesday, July 30th. The software maker reported $0.85 EPS for the quarter, topping the consensus estimate of $0.73 by $0.12. Commvault Systems had a return on equity of 31.62% and a net margin of 19.75%. The firm had revenue of $224.67 million for the quarter, compared to analysts’ expectations of $215.54 million. During the same quarter in the previous year, the company earned $0.29 earnings per share. The firm’s quarterly revenue was up 13.4% compared to the same quarter last year. On average, research analysts expect that Commvault Systems, Inc. will post 1.68 earnings per share for the current fiscal year.

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.