Creative Planning Raises Holdings in Commvault Systems, Inc. (NASDAQ:CVLT)

Creative Planning grew its position in shares of Commvault Systems, Inc. (NASDAQ:CVLT) by 66.0% during the third quarter, Holdings Channel reports. The institutional investor owned 12,150 shares of the software maker’s stock after purchasing an additional 4,829 shares during the quarter. Creative Planning’s holdings in Commvault Systems were worth $1,869,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. SG Americas Securities LLC lifted its holdings in Commvault Systems by 504.6% during the 2nd quarter. SG Americas Securities LLC now owns 13,016 shares of the software maker’s stock worth $1,582,000 after purchasing an additional 10,863 shares in the last quarter. Ontario Teachers Pension Plan Board lifted its holdings in Commvault Systems by 23.4% during the 1st quarter. Ontario Teachers Pension Plan Board now owns 25,770 shares of the software maker’s stock worth $2,614,000 after purchasing an additional 4,888 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp purchased a new stake in Commvault Systems during the 1st quarter worth about $595,000. Intech Investment Management LLC purchased a new stake in Commvault Systems during the 2nd quarter worth about $2,221,000. Finally, BOKF NA lifted its holdings in Commvault Systems by 55.3% during the 1st quarter. BOKF NA now owns 3,119 shares of the software maker’s stock worth $313,000 after purchasing an additional 1,110 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Insiders Place Their Bets

In other news, Director Allison Pickens sold 1,232 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $153.89, for a total transaction of $189,592.48. Following the completion of the transaction, the director now directly owns 7,131 shares of the company’s stock, valued at approximately $1,097,389.59. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Allison Pickens sold 1,232 shares of the business’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 $1,097,389.59. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Gary Merrill sold 17,388 shares of Commvault Systems stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $150.76, for a total value of $2,621,414.88. Following the completion of the sale, the insider now owns 94,530 shares in the company, valued at approximately $14,251,342.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Commvault Systems Price Performance

Shares of CVLT stock opened at $136.97 on Tuesday. The business has a 50-day moving average of $149.35 and a 200 day moving average of $128.94. Commvault Systems, Inc. has a 1-year low of $64.32 and a 1-year high of $165.73. The stock has a market capitalization of $5.99 billion, a PE ratio of 36.15 and a beta of 0.60.

Commvault Systems (NASDAQ:CVLT) last issued 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 net margin of 20.19% and a return on equity of 32.16%. The company had revenue of $224.67 million for the quarter, compared to the consensus estimate of $215.54 million. During the same period in the previous year, the firm earned $0.29 earnings per share. The firm’s revenue for the quarter was up 13.4% on a year-over-year basis. Analysts anticipate that Commvault Systems, Inc. will post 1.66 EPS for the current year.

Wall Street Analysts Forecast Growth

CVLT has been the topic of a number of recent research reports. KeyCorp increased their price objective on Commvault Systems from $140.00 to $170.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Piper Sandler raised their price target on Commvault Systems from $107.00 to $123.00 and gave the company a “neutral” rating in a report on Monday, July 15th. Guggenheim cut Commvault Systems from a “buy” rating to a “neutral” rating in a report on Tuesday, October 15th. DA Davidson raised their price target on Commvault Systems from $170.00 to $175.00 and gave the company a “buy” rating in a report on Friday, September 6th. Finally, Royal Bank of Canada raised their price target on Commvault Systems from $121.00 to $152.00 and gave the company a “sector perform” rating in a report on Wednesday, July 31st. Four research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Commvault Systems has a consensus rating of “Moderate Buy” and a consensus target price of $140.00.

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.