Commvault Systems, Inc. (NASDAQ:CVLT) Shares Bought by Acadian Asset Management LLC

Acadian Asset Management LLC lifted its holdings in shares of Commvault Systems, Inc. (NASDAQ:CVLT) by 0.3% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,601,057 shares of the software maker’s stock after buying an additional 4,422 shares during the period. Acadian Asset Management LLC’s holdings in Commvault Systems were worth $194,606,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CVLT. Vanguard Group Inc. lifted its position in Commvault Systems by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 5,531,703 shares of the software maker’s stock worth $561,081,000 after acquiring an additional 43,333 shares during the period. Champlain Investment Partners LLC lifted its holdings in shares of Commvault Systems by 58.5% during the first quarter. Champlain Investment Partners LLC now owns 825,236 shares of the software maker’s stock worth $83,704,000 after purchasing an additional 304,459 shares during the period. Bank of New York Mellon Corp grew its position in Commvault Systems by 6.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 489,101 shares of the software maker’s stock valued at $59,460,000 after buying an additional 31,015 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Commvault Systems by 2.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 472,291 shares of the software maker’s stock valued at $37,712,000 after buying an additional 12,624 shares during the last quarter. Finally, Norges Bank acquired a new position in Commvault Systems in the 4th quarter valued at $24,134,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Wall Street Analyst Weigh In

CVLT has been the topic of several analyst reports. Wells Fargo & Company lifted their target price on shares of Commvault Systems from $125.00 to $140.00 and gave the company an “overweight” rating in a report on Thursday, May 16th. StockNews.com lowered Commvault Systems from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 31st. Guggenheim reissued a “buy” rating and set a $122.00 target price on shares of Commvault Systems in a research note on Tuesday, June 25th. KeyCorp lifted their price target on Commvault Systems from $140.00 to $170.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Finally, DA Davidson upped their price objective on Commvault Systems from $170.00 to $175.00 and gave the stock a “buy” rating in a report on Friday. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $140.00.

Commvault Systems Price Performance

NASDAQ CVLT opened at $139.53 on Friday. The business has a 50 day moving average price of $137.93 and a 200 day moving average price of $116.14. The company has a market capitalization of $6.11 billion, a P/E ratio of 37.11 and a beta of 0.60. Commvault Systems, Inc. has a 1-year low of $63.70 and a 1-year high of $157.13.

Commvault Systems (NASDAQ:CVLT) last announced its quarterly earnings results on Tuesday, July 30th. The software maker reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.12. Commvault Systems had a return on equity of 32.16% and a net margin of 20.19%. The business had revenue of $224.67 million during the quarter, compared to analysts’ expectations of $215.54 million. During the same quarter last year, the business posted $0.29 earnings per share. The business’s revenue for the quarter was up 13.4% on a year-over-year basis. On average, research analysts expect that Commvault Systems, Inc. will post 1.66 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Gary Merrill sold 17,388 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $150.76, for a total value of $2,621,414.88. Following the sale, the insider now directly owns 94,530 shares in the company, valued at $14,251,342.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Gary Merrill sold 17,388 shares of the company’s stock in a transaction that occurred on 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 sale, the insider now owns 94,530 shares of the company’s stock, valued at approximately $14,251,342.80. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Allison Pickens sold 1,232 shares of the firm’s 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 of the company’s stock, valued at approximately $1,097,389.59. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by company 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.