Vestcor Inc Increases Stock Position in Commvault Systems, Inc. (NASDAQ:CVLT)

Vestcor Inc raised its position in Commvault Systems, Inc. (NASDAQ:CVLT) by 1,552.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 81,693 shares of the software maker’s stock after acquiring an additional 76,749 shares during the quarter. Vestcor Inc owned approximately 0.19% of Commvault Systems worth $12,568,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Xponance Inc. grew its holdings in shares of Commvault Systems by 1.3% during the 2nd quarter. Xponance Inc. now owns 6,371 shares of the software maker’s stock worth $775,000 after acquiring an additional 79 shares during the period. EFG Asset Management North America Corp. boosted its position in shares of Commvault Systems by 0.5% during the second quarter. EFG Asset Management North America Corp. now owns 21,699 shares of the software maker’s stock valued at $2,637,000 after purchasing an additional 103 shares in the last quarter. Natixis Advisors LLC grew its stake in Commvault Systems by 1.0% in the second quarter. Natixis Advisors LLC now owns 13,693 shares of the software maker’s stock worth $1,665,000 after purchasing an additional 138 shares during the period. Commonwealth Equity Services LLC raised its holdings in Commvault Systems by 5.4% in the second quarter. Commonwealth Equity Services LLC now owns 2,701 shares of the software maker’s stock worth $328,000 after purchasing an additional 139 shares in the last quarter. Finally, Parallel Advisors LLC lifted its position in Commvault Systems by 5.9% during the second quarter. Parallel Advisors LLC now owns 2,749 shares of the software maker’s stock valued at $334,000 after buying an additional 153 shares during the period. 93.50% of the stock is owned by institutional investors.

Insider Activity at Commvault Systems

In other Commvault Systems news, insider Gary Merrill sold 1,523 shares of the business’s 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 completion of the sale, the insider now directly owns 93,007 shares in the company, valued at $15,335,924.23. The trade was a 1.61 % decrease in their position. The transaction 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 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 completion of the transaction, the chief executive officer now owns 459,969 shares in the company, valued at $76,032,875.70. This trade represents a 2.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 13,530 shares of company stock worth $2,244,755 over the last quarter. Company insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Commvault Systems Trading Down 2.0 %

Commvault Systems stock opened at $172.21 on Tuesday. Commvault Systems, Inc. has a 12 month low of $73.33 and a 12 month high of $178.72. The stock has a fifty day simple moving average of $160.85 and a two-hundred day simple moving average of $143.13. The firm has a market cap of $7.53 billion, a price-to-earnings ratio of 43.60 and a beta of 0.61.

Commvault Systems (NASDAQ:CVLT) last issued its earnings results 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. The business had revenue of $233.28 million during the quarter, compared to analyst estimates of $220.76 million. Commvault Systems had a return on equity of 31.62% and a net margin of 19.75%. Commvault Systems’s revenue was up 16.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.30 EPS. On average, equities research analysts forecast that Commvault Systems, Inc. will post 1.66 EPS for the current fiscal year.

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.