Diversify Wealth Management LLC Acquires 653 Shares of Commvault Systems, Inc. (NASDAQ:CVLT)

Diversify Wealth Management LLC raised its holdings in Commvault Systems, Inc. (NASDAQ:CVLT) by 19.3% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 4,033 shares of the software maker’s stock after buying an additional 653 shares during the quarter. Diversify Wealth Management LLC’s holdings in Commvault Systems were worth $621,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in CVLT. Summit Partners Public Asset Management LLC purchased a new position in shares of Commvault Systems in the third quarter worth $67,722,000. AQR Capital Management LLC grew its holdings in Commvault Systems by 33.5% during the second quarter. AQR Capital Management LLC now owns 648,858 shares of the software maker’s stock valued at $78,882,000 after purchasing an additional 162,722 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Commvault Systems by 25.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 586,795 shares of the software maker’s stock valued at $90,278,000 after purchasing an additional 120,779 shares during the period. Congress Asset Management Co. grew its holdings in Commvault Systems by 29.4% during the third quarter. Congress Asset Management Co. now owns 492,162 shares of the software maker’s stock valued at $75,719,000 after purchasing an additional 111,715 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec bought a new stake in Commvault Systems during the third quarter valued at about $15,264,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Insider Activity at Commvault Systems

In other news, Director Allison Pickens sold 1,232 shares of the stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $172.50, for a total transaction of $212,520.00. Following the completion of the sale, the director now owns 5,899 shares in the company, valued at approximately $1,017,577.50. This represents a 17.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Gary Merrill sold 1,523 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $164.89, for a total transaction of $251,127.47. Following the sale, the insider now owns 93,007 shares of the company’s stock, valued at $15,335,924.23. This trade represents a 1.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 13,530 shares of company stock valued at $2,244,755 over the last quarter. 1.00% of the stock is owned by insiders.

Commvault Systems Stock Performance

CVLT stock opened at $164.01 on Wednesday. The firm has a market cap of $7.17 billion, a PE ratio of 41.52 and a beta of 0.65. Commvault Systems, Inc. has a one year low of $79.39 and a one year high of $178.72. The firm’s 50 day moving average price is $164.69 and its 200-day moving average price is $152.33.

Commvault Systems (NASDAQ:CVLT) last posted its quarterly earnings data on Tuesday, October 29th. The software maker reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.07. Commvault Systems had a return on equity of 31.62% and a net margin of 19.75%. The business had revenue of $233.28 million for the quarter, compared to analyst estimates of $220.76 million. During the same quarter in the prior year, the company earned $0.30 earnings per share. The company’s revenue was up 16.1% on a year-over-year basis. Equities research analysts predict that Commvault Systems, Inc. will post 1.65 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CVLT has been the subject of a number of recent analyst reports. Guggenheim lowered Commvault Systems from a “buy” rating to a “neutral” rating in a research note on Tuesday, October 15th. Oppenheimer initiated coverage on Commvault Systems in a research report on Wednesday, November 13th. They set an “outperform” rating and a $200.00 price objective on the stock. Royal Bank of Canada upped their target price on Commvault Systems from $164.00 to $182.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 30th. KeyCorp started coverage on Commvault Systems in a research note on Thursday, January 16th. They issued an “overweight” rating and a $192.00 price objective on the stock. Finally, StockNews.com cut Commvault Systems from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 16th. Five investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Commvault Systems presently has a consensus rating of “Moderate Buy” and an average price target of $154.56.

Commvault Systems Company 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.