Emerald Advisers LLC Increases Stake in Commvault Systems, Inc. (NASDAQ:CVLT)

Emerald Advisers LLC raised its holdings in shares of Commvault Systems, Inc. (NASDAQ:CVLT) by 1.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 70,450 shares of the software maker’s stock after acquiring an additional 925 shares during the quarter. Emerald Advisers LLC owned approximately 0.16% of Commvault Systems worth $10,632,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of CVLT. CIBC Asset Management Inc bought a new stake in Commvault Systems during the third quarter valued at about $206,000. Caprock Group LLC bought a new position in shares of Commvault Systems during the 3rd quarter valued at approximately $249,000. Jennison Associates LLC purchased a new stake in Commvault Systems in the 3rd quarter worth approximately $1,194,000. Intech Investment Management LLC raised its stake in Commvault Systems by 31.8% during the 3rd quarter. Intech Investment Management LLC now owns 24,074 shares of the software maker’s stock worth $3,704,000 after acquiring an additional 5,805 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted 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 in the last quarter. Institutional investors own 93.50% of the company’s stock.

Insider Buying and Selling

In other news, CEO Sanjay Mirchandani sold 12,318 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $185.96, for a total transaction of $2,290,655.28. Following the transaction, the chief executive officer now owns 427,231 shares of the company’s stock, valued at approximately $79,447,876.76. The trade was a 2.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Gary Merrill sold 3,287 shares of the firm’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $186.94, for a total value of $614,471.78. Following the completion of the sale, the insider now owns 87,316 shares of the company’s stock, valued at approximately $16,322,853.04. This represents a 3.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by company insiders.

Commvault Systems Price Performance

NASDAQ:CVLT opened at $161.52 on Friday. The company has a market cap of $7.11 billion, a price-to-earnings ratio of 42.39 and a beta of 0.62. Commvault Systems, Inc. has a 1 year low of $93.48 and a 1 year high of $190.11. The stock’s 50 day simple moving average is $165.77 and its two-hundred day simple moving average is $160.81.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CVLT. KeyCorp increased their price objective on shares of Commvault Systems from $192.00 to $195.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. StockNews.com raised Commvault Systems from a “hold” rating to a “buy” rating in a report on Tuesday, February 25th. William Blair raised Commvault Systems from a “market perform” rating to an “outperform” rating in a research note on Thursday, January 30th. Guggenheim reissued a “neutral” rating on shares of Commvault Systems in a research note on Wednesday, January 29th. Finally, Cantor Fitzgerald boosted their price target on Commvault Systems from $159.00 to $173.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Commvault Systems presently has a consensus rating of “Moderate Buy” and a consensus price target of $156.44.

About Commvault Systems

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.