Crossmark Global Holdings Inc. Acquires 480 Shares of Commvault Systems, Inc. (NASDAQ:CVLT)

Crossmark Global Holdings Inc. raised its holdings in Commvault Systems, Inc. (NASDAQ:CVLT) by 17.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,227 shares of the software maker’s stock after acquiring an additional 480 shares during the period. Crossmark Global Holdings Inc.’s holdings in Commvault Systems were worth $497,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of CVLT. Sei Investments Co. lifted its stake in shares of Commvault Systems by 0.4% in the 1st quarter. Sei Investments Co. now owns 89,427 shares of the software maker’s stock valued at $9,071,000 after acquiring an additional 323 shares during the last quarter. ProShare Advisors LLC increased its holdings in Commvault Systems by 9.3% in the 1st quarter. ProShare Advisors LLC now owns 13,327 shares of the software maker’s stock worth $1,352,000 after purchasing an additional 1,133 shares in the last quarter. State Board of Administration of Florida Retirement System raised its position in Commvault Systems by 8.2% in the first quarter. State Board of Administration of Florida Retirement System now owns 14,246 shares of the software maker’s stock valued at $1,445,000 after purchasing an additional 1,080 shares during the last quarter. Blair William & Co. IL acquired a new stake in shares of Commvault Systems during the first quarter valued at about $203,000. Finally, Mitsubishi UFJ Trust & Banking Corp bought a new stake in shares of Commvault Systems during the first quarter worth about $595,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on CVLT. Guggenheim downgraded shares of Commvault Systems from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 15th. Oppenheimer started coverage on shares of Commvault Systems in a report on Wednesday. They set an “outperform” rating and a $200.00 price target on the stock. StockNews.com downgraded Commvault Systems from a “strong-buy” rating to a “buy” rating in a report on Friday, November 1st. KeyCorp lifted their target price on Commvault Systems from $140.00 to $170.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Finally, DA Davidson raised their price objective on Commvault Systems from $170.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $151.25.

Insiders Place Their Bets

In related news, Director Allison Pickens sold 1,232 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $153.89, for a total value of $189,592.48. Following the transaction, the director now directly owns 7,131 shares in the company, valued at $1,097,389.59. This trade represents a 14.73 % 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 the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $150.76, for a total transaction of $2,621,414.88. Following the sale, 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 position. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

Commvault Systems Price Performance

Shares of Commvault Systems stock opened at $168.53 on Friday. The stock’s 50-day moving average is $153.68 and its 200 day moving average is $135.62. Commvault Systems, Inc. has a one year low of $68.02 and a one year high of $178.29. The firm has a market cap of $7.37 billion, a price-to-earnings ratio of 42.67 and a beta of 0.59.

Commvault Systems (NASDAQ:CVLT) last announced 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. The company had revenue of $233.28 million during the quarter, compared to the consensus estimate of $220.76 million. Commvault Systems had a net margin of 19.75% and a return on equity of 31.62%. The company’s quarterly revenue was up 16.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.30 EPS. On average, sell-side analysts expect that Commvault Systems, Inc. will post 1.66 EPS for the current fiscal year.

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.