CWA Asset Management Group LLC Takes $1.02 Million Position in Commvault Systems, Inc. (NASDAQ:CVLT)

CWA Asset Management Group LLC acquired a new position in shares of Commvault Systems, Inc. (NASDAQ:CVLT) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 6,639 shares of the software maker’s stock, valued at approximately $1,021,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CVLT. National Bank of Canada FI purchased a new stake in shares of Commvault Systems during the 2nd quarter worth approximately $30,000. Capital Performance Advisors LLP acquired a new stake in Commvault Systems in the 3rd quarter valued at about $33,000. Hexagon Capital Partners LLC raised its position in Commvault Systems by 124.8% during the second quarter. Hexagon Capital Partners LLC now owns 353 shares of the software maker’s stock worth $43,000 after acquiring an additional 196 shares during the last quarter. Signaturefd LLC lifted its stake in Commvault Systems by 70.8% in the 2nd quarter. Signaturefd LLC now owns 410 shares of the software maker’s stock valued at $50,000 after buying an additional 170 shares in the last quarter. Finally, Strategic Financial Concepts LLC acquired a new position in shares of Commvault Systems in the second quarter worth $56,000. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Commvault Systems

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

Commvault Systems Stock Performance

CVLT stock opened at $171.57 on Monday. The stock has a market cap of $7.50 billion, a P/E ratio of 43.44 and a beta of 0.59. The firm has a 50 day simple moving average of $151.33 and a 200 day simple moving average of $133.56. Commvault Systems, Inc. has a 52 week low of $68.02 and a 52 week high of $173.01.

Commvault Systems (NASDAQ:CVLT) last posted its earnings results 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 net margin of 19.75% and a return on equity of 31.62%. The firm had revenue of $233.28 million for 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 business’s quarterly revenue was up 16.1% on a year-over-year basis. Sell-side analysts predict that Commvault Systems, Inc. will post 1.65 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CVLT. StockNews.com lowered shares of Commvault Systems from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 1st. Royal Bank of Canada raised their price objective on Commvault Systems from $164.00 to $182.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 30th. Guggenheim lowered shares of Commvault Systems from a “buy” rating to a “neutral” rating in a report on Tuesday, October 15th. DA Davidson boosted their price target on Commvault Systems from $170.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Finally, KeyCorp boosted their price objective on shares of Commvault Systems from $140.00 to $170.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $144.29.

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.