2,100 Shares in Commvault Systems, Inc. (NASDAQ:CVLT) Bought by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC bought a new stake in Commvault Systems, Inc. (NASDAQ:CVLT) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 2,100 shares of the software maker’s stock, valued at approximately $255,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Champlain Investment Partners LLC increased its position in shares of Commvault Systems by 58.5% in the first quarter. Champlain Investment Partners LLC now owns 825,236 shares of the software maker’s stock worth $83,704,000 after acquiring an additional 304,459 shares in the last quarter. Norges Bank acquired a new stake in Commvault Systems in the 4th quarter valued at $24,134,000. Acadian Asset Management LLC raised its position in Commvault Systems by 16.3% in the first quarter. Acadian Asset Management LLC now owns 1,596,635 shares of the software maker’s stock valued at $161,914,000 after purchasing an additional 223,347 shares during the period. M&G Plc acquired a new position in shares of Commvault Systems during the second quarter worth about $10,265,000. Finally, CANADA LIFE ASSURANCE Co boosted its position in shares of Commvault Systems by 247.1% in the first quarter. CANADA LIFE ASSURANCE Co now owns 110,567 shares of the software maker’s stock worth $11,205,000 after buying an additional 78,713 shares during the period. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Commvault Systems Price Performance

NASDAQ CVLT opened at $151.88 on Tuesday. The company’s fifty day moving average price is $132.39 and its two-hundred day moving average price is $112.88. The company has a market capitalization of $6.65 billion, a price-to-earnings ratio of 40.39 and a beta of 0.61. Commvault Systems, Inc. has a 12 month low of $63.70 and a 12 month high of $156.00.

Commvault Systems (NASDAQ:CVLT) last issued its quarterly 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. The business had revenue of $224.67 million for the quarter, compared to analysts’ expectations of $215.54 million. Commvault Systems had a net margin of 20.19% and a return on equity of 32.16%. The company’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.29 earnings per share. As a group, analysts anticipate that Commvault Systems, Inc. will post 1.71 EPS for the current year.

Insiders Place Their Bets

In other news, Director Charles E. Moran sold 11,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $110.83, for a total value of $1,219,130.00. Following the completion of the sale, the director now directly owns 10,967 shares in the company, valued at approximately $1,215,472.61. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on CVLT shares. Lake Street Capital raised their target price on Commvault Systems from $86.00 to $98.00 and gave the company a “hold” rating in a report on Wednesday, May 1st. Wells Fargo & Company upped their target price on shares of Commvault Systems from $125.00 to $140.00 and gave the company an “overweight” rating in a research note on Thursday, May 16th. StockNews.com lowered shares of Commvault Systems from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 31st. Royal Bank of Canada boosted their price objective on shares of Commvault Systems from $121.00 to $152.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 31st. Finally, DA Davidson raised their target price on Commvault Systems from $125.00 to $135.00 and gave the company a “buy” rating in a research note on Friday, June 14th. Three 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, Commvault Systems has an average rating of “Moderate Buy” and an average price target of $134.29.

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.