ClearAlpha Technologies LP Purchases New Stake in Commvault Systems, Inc. (NASDAQ:CVLT)

ClearAlpha Technologies LP acquired a new stake in shares of Commvault Systems, Inc. (NASDAQ:CVLT) during the third quarter, Holdings Channel reports. The fund acquired 1,702 shares of the software maker’s stock, valued at approximately $262,000.

Several other hedge funds also recently added to or reduced their stakes in CVLT. National Bank of Canada FI acquired a new stake in shares of Commvault Systems in the 2nd quarter valued at about $30,000. Capital Performance Advisors LLP bought a new stake in Commvault Systems in the third quarter valued at about $33,000. Hexagon Capital Partners LLC raised its stake in Commvault Systems by 124.8% during the second quarter. Hexagon Capital Partners LLC now owns 353 shares of the software maker’s stock valued at $43,000 after buying an additional 196 shares in the last quarter. Signaturefd LLC lifted its holdings in Commvault Systems by 70.8% during the 2nd quarter. Signaturefd LLC now owns 410 shares of the software maker’s stock worth $50,000 after buying an additional 170 shares during the last quarter. Finally, Strategic Financial Concepts LLC acquired a new position in shares of Commvault Systems in the 2nd quarter worth approximately $56,000. 93.50% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Commvault Systems

In related news, CEO Sanjay Mirchandani sold 10,775 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $165.30, for a total transaction of $1,781,107.50. Following 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Gary Merrill sold 1,523 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $164.89, for a total value of $251,127.47. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

Commvault Systems Stock Down 0.4 %

Commvault Systems stock opened at $170.85 on Tuesday. Commvault Systems, Inc. has a 52-week low of $73.33 and a 52-week high of $178.72. The firm has a market capitalization of $7.47 billion, a price-to-earnings ratio of 43.25 and a beta of 0.59. The firm has a 50-day moving average price of $158.79 and a two-hundred day moving average price of $140.93.

Commvault Systems (NASDAQ:CVLT) last issued its quarterly earnings data on Tuesday, October 29th. The software maker reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $220.76 million. During the same period in the previous year, the firm posted $0.30 earnings per share. The business’s revenue was up 16.1% on a year-over-year basis. Research analysts expect that Commvault Systems, Inc. will post 1.66 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CVLT. Oppenheimer started coverage on Commvault Systems in a research note on Wednesday, November 13th. They set an “outperform” rating and a $200.00 price objective on the stock. DA Davidson raised their price target 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. StockNews.com downgraded shares of Commvault Systems from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 1st. Royal Bank of Canada raised their target price on shares of Commvault Systems from $164.00 to $182.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 30th. Finally, Guggenheim lowered Commvault Systems from a “buy” rating to a “neutral” rating in a report on Tuesday, October 15th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $151.25.

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.