Jennison Associates LLC Makes New Investment in Commvault Systems, Inc. (NASDAQ:CVLT)

Jennison Associates LLC acquired a new stake in Commvault Systems, Inc. (NASDAQ:CVLT) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 7,761 shares of the software maker’s stock, valued at approximately $1,194,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Xponance Inc. grew its stake in Commvault Systems by 1.3% in the second quarter. Xponance Inc. now owns 6,371 shares of the software maker’s stock valued at $775,000 after purchasing an additional 79 shares in the last quarter. EFG Asset Management North America Corp. boosted its holdings in shares of Commvault Systems by 0.5% in the 2nd quarter. EFG Asset Management North America Corp. now owns 21,699 shares of the software maker’s stock valued at $2,637,000 after buying an additional 103 shares during the last quarter. Natixis Advisors LLC grew its stake in shares of Commvault Systems by 1.0% in the second quarter. Natixis Advisors LLC now owns 13,693 shares of the software maker’s stock valued at $1,665,000 after buying an additional 138 shares in the last quarter. Commonwealth Equity Services LLC increased its holdings in Commvault Systems by 5.4% during the second quarter. Commonwealth Equity Services LLC now owns 2,701 shares of the software maker’s stock worth $328,000 after buying an additional 139 shares during the last quarter. Finally, Parallel Advisors LLC raised its position in Commvault Systems by 5.9% during the second quarter. Parallel Advisors LLC now owns 2,749 shares of the software maker’s stock worth $334,000 after acquiring an additional 153 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on CVLT shares. Oppenheimer began coverage on shares of Commvault Systems in a research report on Wednesday, November 13th. They issued an “outperform” rating and a $200.00 price objective for the company. Guggenheim downgraded Commvault Systems from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 15th. StockNews.com cut Commvault Systems from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 1st. Royal Bank of Canada boosted their target price on Commvault Systems from $164.00 to $182.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 30th. Finally, KeyCorp raised their price target on Commvault Systems from $140.00 to $170.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Four equities research 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 company has an average rating of “Moderate Buy” and a consensus price target of $151.25.

Commvault Systems Price Performance

Shares of Commvault Systems stock opened at $174.60 on Friday. The company’s 50 day moving average price is $156.18 and its two-hundred day moving average price is $137.88. The firm has a market capitalization of $7.64 billion, a P/E ratio of 44.20 and a beta of 0.59. Commvault Systems, Inc. has a fifty-two week low of $70.30 and a fifty-two week high of $178.29.

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

Insider Activity

In other Commvault Systems news, Director Allison Pickens sold 1,232 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $153.89, for a total value of $189,592.48. Following the sale, the director now owns 7,131 shares in the company, valued at approximately $1,097,389.59. The trade was a 14.73 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Gary Merrill sold 17,388 shares of the firm’s stock in a transaction dated 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 transaction, the insider now owns 94,530 shares of the company’s stock, valued at $14,251,342.80. This trade represents a 15.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,918 shares of company stock valued at $4,843,242 over the last quarter. 1.00% of the stock is owned by company insiders.

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.