Point72 Asset Management L.P. Acquires Shares of 2,300 Commvault Systems, Inc. (NASDAQ:CVLT)

Point72 Asset Management L.P. acquired a new position in Commvault Systems, Inc. (NASDAQ:CVLT) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,300 shares of the software maker’s stock, valued at approximately $354,000.

Several other large investors also recently made changes to their positions in the business. SG Americas Securities LLC increased its holdings 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 purchasing an additional 10,863 shares in the last quarter. Intech Investment Management LLC acquired a new stake in shares of Commvault Systems in the 2nd quarter valued at $2,221,000. Charles Schwab Investment Management Inc. increased its stake in shares of Commvault Systems by 25.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 586,795 shares of the software maker’s stock valued at $90,278,000 after buying an additional 120,779 shares during the period. Summit Partners Public Asset Management LLC acquired a new position in shares of Commvault Systems during the third quarter valued at $67,722,000. Finally, Ellsworth Advisors LLC acquired a new position in shares of Commvault Systems during the second quarter valued at $495,000. Institutional investors own 93.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on CVLT shares. Oppenheimer began coverage on shares of Commvault Systems in a report on Wednesday, November 13th. They set an “outperform” rating and a $200.00 target price for the company. DA Davidson upped their price objective on Commvault Systems from $170.00 to $175.00 and gave the company a “buy” rating in a report on Friday, September 6th. Royal Bank of Canada raised 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. StockNews.com cut Commvault Systems from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 1st. Finally, Guggenheim lowered shares of Commvault Systems from a “buy” rating to a “neutral” rating in a research note on Tuesday, October 15th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $151.25.

Commvault Systems Stock Up 0.0 %

CVLT stock opened at $173.14 on Friday. The company’s 50-day moving average price is $162.21 and its two-hundred day moving average price is $143.98. The firm has a market cap of $7.57 billion, a P/E ratio of 43.83 and a beta of 0.61. Commvault Systems, Inc. has a 12 month low of $73.33 and a 12 month high of $178.72.

Commvault Systems (NASDAQ:CVLT) last released its quarterly earnings data on Tuesday, October 29th. The software maker reported $0.83 earnings per share for the quarter, beating the consensus estimate 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 revenue was up 16.1% compared to the same quarter last year. During the same period last year, the firm posted $0.30 earnings per share. Equities analysts predict that Commvault Systems, Inc. will post 1.66 EPS for the current year.

Insider Buying and Selling at Commvault Systems

In other Commvault Systems news, Director Allison Pickens sold 1,232 shares of the firm’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $172.50, for a total transaction of $212,520.00. Following the transaction, the director now directly owns 5,899 shares in the company, valued at approximately $1,017,577.50. This trade represents a 17.28 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sanjay Mirchandani sold 10,775 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $165.30, for a total transaction of $1,781,107.50. Following the completion of the sale, the chief executive officer now owns 459,969 shares of the company’s stock, valued at approximately $76,032,875.70. The trade was a 2.29 % decrease in their position. 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. Corporate insiders own 1.00% of the company’s stock.

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.