Ellsworth Advisors LLC Takes Position in Commvault Systems, Inc. (NASDAQ:CVLT)

Ellsworth Advisors LLC purchased a new position in Commvault Systems, Inc. (NASDAQ:CVLT) in the second quarter, HoldingsChannel reports. The fund purchased 4,071 shares of the software maker’s stock, valued at approximately $495,000.

Several other institutional investors have also recently added to or reduced their stakes in CVLT. Champlain Investment Partners LLC lifted its position 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 last quarter. Norges Bank bought a new position in Commvault Systems during the fourth quarter worth $24,134,000. Acadian Asset Management LLC boosted its holdings in Commvault Systems by 16.3% in the first quarter. Acadian Asset Management LLC now owns 1,596,635 shares of the software maker’s stock worth $161,914,000 after purchasing an additional 223,347 shares during the period. M&G Plc bought a new stake in Commvault Systems during the second quarter valued at $10,265,000. Finally, CANADA LIFE ASSURANCE Co raised its holdings in shares of Commvault Systems by 247.1% during the first quarter. CANADA LIFE ASSURANCE Co now owns 110,567 shares of the software maker’s stock worth $11,205,000 after purchasing an additional 78,713 shares during the period. 93.50% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Charles E. Moran sold 11,000 shares of Commvault Systems stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $110.83, for a total value of $1,219,130.00. Following the transaction, the director now owns 10,967 shares of the company’s stock, valued at approximately $1,215,472.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Charles E. Moran sold 11,000 shares of Commvault Systems stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $110.83, for a total value of $1,219,130.00. Following the transaction, the director now directly owns 10,967 shares in the company, valued at approximately $1,215,472.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Gary Merrill sold 661 shares of the company’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $110.58, for a total value of $73,093.38. Following the sale, the chief financial officer now directly owns 114,373 shares of the company’s stock, valued at $12,647,366.34. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,301 shares of company stock worth $3,907,346. 1.00% of the stock is owned by corporate insiders.

Commvault Systems Stock Performance

Shares of CVLT stock traded up $2.16 during midday trading on Friday, reaching $150.29. 476,826 shares of the company were exchanged, compared to its average volume of 354,336. The company’s 50 day moving average price is $128.19 and its two-hundred day moving average price is $110.20. The company has a market cap of $6.58 billion, a P/E ratio of 39.97 and a beta of 0.61. Commvault Systems, Inc. has a 12 month low of $63.70 and a 12 month high of $155.33.

Commvault Systems (NASDAQ:CVLT) last released its earnings results on Tuesday, July 30th. The software maker reported $0.85 earnings per share for the quarter, topping 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 firm had revenue of $224.67 million during the quarter, compared to the consensus estimate of $215.54 million. During the same period in the prior year, the firm posted $0.29 earnings per share. The firm’s revenue for the quarter was up 13.4% compared to the same quarter last year. As a group, sell-side analysts predict that Commvault Systems, Inc. will post 1.71 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on CVLT shares. Lake Street Capital boosted their price objective on shares of Commvault Systems from $86.00 to $98.00 and gave the company a “hold” rating in a research report on Wednesday, May 1st. Royal Bank of Canada increased their price target on Commvault Systems from $121.00 to $152.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 31st. Guggenheim restated a “buy” rating and set a $122.00 price objective on shares of Commvault Systems in a research report on Tuesday, June 25th. KeyCorp raised their target price 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 target on shares of Commvault Systems from $125.00 to $135.00 and gave the stock a “buy” rating in a research report on Friday, June 14th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $134.29.

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.