Harvest Fund Management Co. Ltd Acquires 5,730 Shares of Commvault Systems, Inc. (NASDAQ:CVLT)

Harvest Fund Management Co. Ltd boosted its holdings in shares of Commvault Systems, Inc. (NASDAQ:CVLT) by 122.7% in the third quarter, Holdings Channel.com reports. The fund owned 10,400 shares of the software maker’s stock after acquiring an additional 5,730 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Commvault Systems were worth $1,599,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. National Bank of Canada FI purchased a new stake in shares of Commvault Systems during the second quarter valued at $30,000. Capital Performance Advisors LLP bought a new stake in Commvault Systems during the 3rd quarter valued at about $33,000. Hexagon Capital Partners LLC boosted its position in Commvault Systems by 124.8% in the 2nd quarter. Hexagon Capital Partners LLC now owns 353 shares of the software maker’s stock valued at $43,000 after buying an additional 196 shares during the period. Signaturefd LLC grew its stake in Commvault Systems by 70.8% in the 2nd quarter. Signaturefd LLC now owns 410 shares of the software maker’s stock worth $50,000 after acquiring an additional 170 shares in the last quarter. Finally, Strategic Financial Concepts LLC purchased a new position in shares of Commvault Systems during the second quarter worth approximately $56,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Insiders Place Their Bets

In related news, 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 transaction, the director now directly owns 7,131 shares of the company’s stock, 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 SEC, which is available through this hyperlink. Also, CEO Sanjay Mirchandani sold 10,775 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 459,969 shares in the company, valued at approximately $76,032,875.70. This represents a 2.29 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 13,530 shares of company stock valued at $2,221,827. 1.00% of the stock is currently owned by corporate insiders.

Commvault Systems Stock Performance

CVLT stock opened at $175.60 on Tuesday. The firm has a market cap of $7.68 billion, a price-to-earnings ratio of 44.46 and a beta of 0.59. Commvault Systems, Inc. has a one year low of $70.72 and a one year high of $178.29. The firm has a 50-day simple moving average of $156.18 and a two-hundred day simple moving average of $138.28.

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

Analysts Set New Price Targets

Several research analysts recently issued reports on CVLT shares. Oppenheimer started coverage on Commvault Systems in a research note on Wednesday, November 13th. They issued an “outperform” rating and a $200.00 price objective on the stock. Guggenheim downgraded Commvault Systems from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 15th. Royal Bank of Canada lifted their price objective on Commvault Systems from $164.00 to $182.00 and gave the company a “sector perform” rating in a report on Wednesday, October 30th. DA Davidson upped their price objective on shares of Commvault Systems from $170.00 to $175.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Finally, StockNews.com downgraded shares of Commvault Systems from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $151.25.

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.