Tidal Investments LLC Purchases Shares of 1,813 Commvault Systems, Inc. (NASDAQ:CVLT)

Tidal Investments LLC acquired a new position in Commvault Systems, Inc. (NASDAQ:CVLT) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 1,813 shares of the software maker’s stock, valued at approximately $279,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. National Bank of Canada FI purchased a new position in Commvault Systems during the 2nd quarter worth approximately $30,000. Capital Performance Advisors LLP acquired a new position in shares of Commvault Systems in the 3rd quarter valued at about $33,000. Signaturefd LLC lifted its holdings 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 purchased a new stake in shares of Commvault Systems in the second quarter worth about $56,000. Finally, Point72 DIFC Ltd acquired a new stake in Commvault Systems during the third quarter worth about $71,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on CVLT. Royal Bank of Canada boosted their price target on Commvault Systems from $164.00 to $182.00 and gave the company a “sector perform” rating in a report on Wednesday, October 30th. Oppenheimer initiated coverage on shares of Commvault Systems in a report on Wednesday, November 13th. They set an “outperform” rating and a $200.00 price target on the stock. Guggenheim downgraded shares of Commvault Systems from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 15th. DA Davidson increased their target price on shares of Commvault Systems from $170.00 to $175.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Finally, StockNews.com lowered 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $151.25.

Commvault Systems Trading Up 0.9 %

Shares of Commvault Systems stock opened at $157.71 on Wednesday. Commvault Systems, Inc. has a twelve month low of $73.33 and a twelve month high of $178.72. The firm’s 50-day moving average price is $162.72 and its 200 day moving average price is $147.01. The firm has a market capitalization of $6.90 billion, a PE ratio of 39.93 and a beta of 0.61.

Commvault Systems (NASDAQ:CVLT) last issued its earnings results on Tuesday, October 29th. The software maker reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.07. The business had revenue of $233.28 million during the quarter, compared to analysts’ expectations of $220.76 million. Commvault Systems had a net margin of 19.75% and a return on equity of 31.62%. The company’s quarterly revenue was up 16.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.30 earnings per share. On average, sell-side analysts predict that Commvault Systems, Inc. will post 1.66 EPS for the current fiscal year.

Insiders Place Their Bets

In other Commvault Systems news, insider Gary Merrill sold 1,523 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were 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 in the company, valued at $15,335,924.23. The trade was a 1.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Allison Pickens sold 1,232 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $172.50, for a total transaction of $212,520.00. Following the sale, the director now owns 5,899 shares of the company’s stock, valued at $1,017,577.50. This represents a 17.28 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,530 shares of company stock valued at $2,244,755. Insiders own 1.00% of the company’s stock.

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.