Charles Schwab Investment Management Inc. Increases Stock Position in Commvault Systems, Inc. (NASDAQ:CVLT)

Charles Schwab Investment Management Inc. lifted its holdings in shares of Commvault Systems, Inc. (NASDAQ:CVLT) by 25.9% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 586,795 shares of the software maker’s stock after buying an additional 120,779 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Commvault Systems were worth $90,278,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Renaissance Technologies LLC raised its stake in Commvault Systems by 7.5% in the 2nd quarter. Renaissance Technologies LLC now owns 1,813,487 shares of the software maker’s stock valued at $220,466,000 after purchasing an additional 126,800 shares during the last quarter. Acadian Asset Management LLC boosted its position in shares of Commvault Systems by 0.3% during the second quarter. Acadian Asset Management LLC now owns 1,601,057 shares of the software maker’s stock worth $194,606,000 after buying an additional 4,422 shares during the period. AQR Capital Management LLC boosted its stake in shares of Commvault Systems by 33.5% in the second quarter. AQR Capital Management LLC now owns 648,858 shares of the software maker’s stock valued at $78,882,000 after purchasing an additional 162,722 shares during the period. Dimensional Fund Advisors LP grew its stake in Commvault Systems by 0.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 523,474 shares of the software maker’s stock worth $63,637,000 after purchasing an additional 2,633 shares in the last quarter. Finally, Congress Asset Management Co. grew its holdings in Commvault Systems by 29.4% during the 3rd quarter. Congress Asset Management Co. now owns 492,162 shares of the software maker’s stock worth $75,719,000 after acquiring an additional 111,715 shares in the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Commvault Systems Trading Up 1.1 %

Shares of NASDAQ:CVLT opened at $177.60 on Wednesday. The firm has a market cap of $7.77 billion, a price-to-earnings ratio of 44.46 and a beta of 0.59. The business has a fifty day simple moving average of $156.68 and a 200 day simple moving average of $138.74. Commvault Systems, Inc. has a 1 year low of $70.72 and a 1 year high of $178.72.

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

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on CVLT shares. Royal Bank of Canada raised their target price on shares of Commvault Systems from $164.00 to $182.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 30th. DA Davidson upped their target price on shares of Commvault Systems from $170.00 to $175.00 and gave the company a “buy” rating in a report on Friday, September 6th. Oppenheimer initiated coverage on shares of Commvault Systems in a research report on Wednesday, November 13th. They issued an “outperform” rating and a $200.00 target price on the stock. Guggenheim downgraded shares of Commvault Systems from a “buy” rating to a “neutral” rating in a research note on Tuesday, October 15th. Finally, StockNews.com downgraded shares of Commvault Systems from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $151.25.

Insider Transactions at Commvault Systems

In other news, insider Gary Merrill sold 1,523 shares of the business’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 transaction, the insider now directly owns 93,007 shares of the company’s stock, valued at $15,335,924.23. The trade was a 1.61 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 transaction of $189,592.48. Following the transaction, the director now owns 7,131 shares in the company, valued at approximately $1,097,389.59. This trade represents a 14.73 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,530 shares of company stock worth $2,221,827. 1.00% of the stock is currently owned by company insiders.

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.