Dynamic Technology Lab Private Ltd Makes New $1.59 Million Investment in Commvault Systems, Inc. (NASDAQ:CVLT)

Dynamic Technology Lab Private Ltd purchased a new stake in shares of Commvault Systems, Inc. (NASDAQ:CVLT) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 10,339 shares of the software maker’s stock, valued at approximately $1,591,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Renaissance Technologies LLC increased its stake in Commvault Systems by 7.5% during the 2nd quarter. Renaissance Technologies LLC now owns 1,813,487 shares of the software maker’s stock valued at $220,466,000 after buying an additional 126,800 shares during the period. Acadian Asset Management LLC increased its stake in shares of Commvault Systems by 0.3% during the second quarter. Acadian Asset Management LLC now owns 1,601,057 shares of the software maker’s stock valued at $194,606,000 after acquiring an additional 4,422 shares during the period. AQR Capital Management LLC increased its stake in shares of 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 acquiring an additional 162,722 shares during the period. Charles Schwab Investment Management Inc. raised 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 worth $90,278,000 after purchasing an additional 120,779 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Commvault Systems by 0.5% in the second quarter. Dimensional Fund Advisors LP now owns 523,474 shares of the software maker’s stock worth $63,637,000 after purchasing an additional 2,633 shares during the period. 93.50% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on CVLT shares. Oppenheimer began coverage on Commvault Systems in a research report on Wednesday, November 13th. They set an “outperform” rating and a $200.00 price target on the stock. Guggenheim cut shares of Commvault Systems from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 15th. KeyCorp upped their price target on shares of Commvault Systems from $140.00 to $170.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. StockNews.com cut shares of Commvault Systems from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 1st. Finally, Royal Bank of Canada increased their target price on shares of Commvault Systems from $164.00 to $182.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 30th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Commvault Systems currently has a consensus rating of “Moderate Buy” and a consensus price target of $151.25.

Commvault Systems Price Performance

Commvault Systems stock opened at $175.60 on Tuesday. The company has a market cap of $7.68 billion, a P/E ratio of 44.46 and a beta of 0.59. Commvault Systems, Inc. has a fifty-two week low of $70.72 and a fifty-two week high of $178.29. The firm’s 50 day simple moving average is $156.18 and its 200-day simple moving average is $138.28.

Commvault Systems (NASDAQ:CVLT) last announced its earnings results on Tuesday, October 29th. The software maker reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.07. The company had revenue of $233.28 million for 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 revenue was up 16.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.30 EPS. On average, analysts expect that Commvault Systems, Inc. will post 1.66 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Gary Merrill sold 1,523 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $164.89, for a total transaction of $251,127.47. Following the completion of the sale, the insider now directly owns 93,007 shares in the company, valued at approximately $15,335,924.23. This trade represents a 1.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Allison Pickens sold 1,232 shares of Commvault Systems stock in a transaction 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 sale, the director now directly owns 7,131 shares of the company’s stock, valued at approximately $1,097,389.59. The trade was a 14.73 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,530 shares of company stock valued at $2,221,827. Corporate insiders own 1.00% of the company’s stock.

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.