CIBC Asset Management Inc Invests $206,000 in Commvault Systems, Inc. (NASDAQ:CVLT)

CIBC Asset Management Inc acquired a new stake in Commvault Systems, Inc. (NASDAQ:CVLT) in the third quarter, Holdings Channel reports. The firm acquired 1,338 shares of the software maker’s stock, valued at approximately $206,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. SG Americas Securities LLC increased its stake in shares of Commvault Systems by 504.6% in the second quarter. SG Americas Securities LLC now owns 13,016 shares of the software maker’s stock valued at $1,582,000 after buying an additional 10,863 shares during the period. Mitsubishi UFJ Trust & Banking Corp acquired a new position in shares of Commvault Systems in the 1st quarter worth approximately $595,000. Intech Investment Management LLC acquired a new position in shares of Commvault Systems in the 2nd quarter worth approximately $2,221,000. BOKF NA boosted its stake in shares of Commvault Systems by 55.3% in the 1st quarter. BOKF NA now owns 3,119 shares of the software maker’s stock valued at $313,000 after purchasing an additional 1,110 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Commvault Systems by 0.8% during the first quarter. Vanguard Group Inc. now owns 5,531,703 shares of the software maker’s stock worth $561,081,000 after buying an additional 43,333 shares during the period. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have commented on CVLT shares. Guggenheim cut shares of Commvault Systems from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 15th. KeyCorp raised their target price on Commvault Systems from $140.00 to $170.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. 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 research note on Wednesday, October 30th. Oppenheimer started coverage on shares of Commvault Systems in a research report on Wednesday, November 13th. They set an “outperform” rating and a $200.00 price objective for the company. Finally, StockNews.com downgraded shares of Commvault Systems from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 1st. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $151.25.

Commvault Systems Trading Up 2.3 %

CVLT opened at $174.60 on Friday. Commvault Systems, Inc. has a 1-year low of $70.30 and a 1-year high of $178.29. The company has a market cap of $7.64 billion, a price-to-earnings ratio of 43.61 and a beta of 0.59. The company’s fifty day moving average price is $155.64 and its two-hundred day moving average price is $137.42.

Commvault Systems (NASDAQ:CVLT) last issued its quarterly earnings data on Tuesday, October 29th. The software maker reported $0.83 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 firm had revenue of $233.28 million during the quarter, compared to the consensus estimate of $220.76 million. During the same period in the prior year, the business posted $0.30 earnings per share. The company’s quarterly revenue was up 16.1% compared to the same quarter last year. As a group, equities analysts forecast that Commvault Systems, Inc. will post 1.66 earnings per share for the current fiscal year.

Insider Activity at Commvault Systems

In other Commvault Systems news, CEO Sanjay Mirchandani sold 10,775 shares of the company’s 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 sale, the chief executive officer now directly owns 459,969 shares of the company’s stock, valued at approximately $76,032,875.70. This represents a 2.29 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Gary Merrill sold 1,523 shares of Commvault Systems stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $164.89, for a total transaction of $251,127.47. Following the transaction, the insider now directly owns 93,007 shares in the company, valued at approximately $15,335,924.23. This represents a 1.61 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 30,918 shares of company stock valued at $4,843,242. 1.00% of the stock is owned by 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.