CWA Asset Management Group LLC Grows Stock Position in Commvault Systems, Inc. (NASDAQ:CVLT)

CWA Asset Management Group LLC increased its holdings in Commvault Systems, Inc. (NASDAQ:CVLT) by 20.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 7,994 shares of the software maker’s stock after acquiring an additional 1,355 shares during the quarter. CWA Asset Management Group LLC’s holdings in Commvault Systems were worth $1,206,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently added to or reduced their stakes in CVLT. Charles Schwab Investment Management Inc. boosted its stake in shares of Commvault Systems by 25.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 586,795 shares of the software maker’s stock worth $90,278,000 after acquiring an additional 120,779 shares during the last quarter. Intech Investment Management LLC bought a new position in Commvault Systems in the 2nd quarter worth $2,221,000. Summit Partners Public Asset Management LLC purchased a new position in Commvault Systems during the third quarter valued at $67,722,000. Vontobel Holding Ltd. bought a new stake in Commvault Systems during the third quarter valued at about $1,126,000. Finally, Point72 Hong Kong Ltd increased its position in Commvault Systems by 37.9% in the third quarter. Point72 Hong Kong Ltd now owns 23,421 shares of the software maker’s stock worth $3,603,000 after buying an additional 6,433 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Oppenheimer started coverage on Commvault Systems in a research note on Wednesday, November 13th. They set an “outperform” rating and a $200.00 price objective for the company. Guggenheim lowered shares of Commvault Systems from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 15th. StockNews.com downgraded shares of Commvault Systems from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Finally, Royal Bank of Canada upped their target price on shares of Commvault Systems from $164.00 to $182.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Commvault Systems currently has a consensus rating of “Moderate Buy” and a consensus price target of $151.25.

Commvault Systems Stock Down 4.7 %

CVLT opened at $153.05 on Wednesday. The company has a market capitalization of $6.69 billion, a PE ratio of 38.75 and a beta of 0.65. The firm has a 50-day simple moving average of $165.96 and a two-hundred day simple moving average of $149.75. Commvault Systems, Inc. has a 52 week low of $73.85 and a 52 week high of $178.72.

Commvault Systems (NASDAQ:CVLT) last announced its quarterly 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. 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 analyst estimates of $220.76 million. During the same period in the prior year, the company earned $0.30 earnings per share. The firm’s revenue was up 16.1% on a year-over-year basis. As a group, sell-side analysts expect that Commvault Systems, Inc. will post 1.66 earnings per share for the current year.

Insider Activity at Commvault Systems

In related news, CEO Sanjay Mirchandani sold 10,775 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $165.30, for a total value of $1,781,107.50. Following the completion of the transaction, the chief executive officer now owns 459,969 shares of the company’s stock, valued at approximately $76,032,875.70. This trade represents a 2.29 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Allison Pickens sold 1,232 shares of the business’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 value of $212,520.00. Following the sale, the director now directly owns 5,899 shares in the company, valued at $1,017,577.50. The trade was a 17.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,530 shares of company stock valued at $2,244,755. 1.00% of the stock is owned by corporate 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.