Congress Asset Management Co. Purchases 111,715 Shares of Commvault Systems, Inc. (NASDAQ:CVLT)

Congress Asset Management Co. boosted its position in Commvault Systems, Inc. (NASDAQ:CVLT) by 29.4% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 492,162 shares of the software maker’s stock after acquiring an additional 111,715 shares during the period. Congress Asset Management Co.’s holdings in Commvault Systems were worth $75,719,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in CVLT. Vanguard Group Inc. boosted its holdings in Commvault Systems by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 5,531,703 shares of the software maker’s stock worth $561,081,000 after buying an additional 43,333 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Commvault Systems by 7.5% in the second quarter. Renaissance Technologies LLC now owns 1,813,487 shares of the software maker’s stock worth $220,466,000 after acquiring an additional 126,800 shares during the period. Acadian Asset Management LLC raised its stake in shares of Commvault Systems by 0.3% during the 2nd quarter. Acadian Asset Management LLC now owns 1,601,057 shares of the software maker’s stock valued at $194,606,000 after purchasing an additional 4,422 shares during the period. Champlain Investment Partners LLC lifted its holdings in Commvault Systems by 58.5% during the 1st 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 in the last quarter. Finally, AQR Capital Management LLC boosted its stake in Commvault Systems by 33.5% in the 2nd quarter. AQR Capital Management LLC now owns 648,858 shares of the software maker’s stock worth $78,882,000 after purchasing an additional 162,722 shares during the period. 93.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CVLT has been the topic of several analyst reports. Guggenheim downgraded shares of Commvault Systems from a “buy” rating to a “neutral” rating in a report on Tuesday, October 15th. StockNews.com upgraded shares of Commvault Systems from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 24th. DA Davidson boosted their price target on shares of Commvault Systems from $170.00 to $175.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Royal Bank of Canada increased their price objective on Commvault Systems from $164.00 to $182.00 and gave the stock a “sector perform” rating in a research report on Wednesday. Finally, KeyCorp boosted their target price on Commvault Systems from $140.00 to $170.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Four investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $144.29.

Insider Transactions at Commvault Systems

In related news, Director Allison Pickens sold 1,232 shares of the stock in a transaction on Friday, August 30th. The shares were sold at an average price of $153.89, for a total transaction of $189,592.48. Following the transaction, the director now owns 7,131 shares of the company’s stock, valued at approximately $1,097,389.59. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Allison Pickens sold 1,232 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $153.89, for a total transaction of $189,592.48. Following the completion of the sale, the director now directly owns 7,131 shares in the company, valued at $1,097,389.59. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Gary Merrill sold 17,388 shares of the stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $150.76, for a total transaction of $2,621,414.88. Following the sale, the insider now directly owns 94,530 shares of the company’s stock, valued at $14,251,342.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

Commvault Systems Trading Down 2.7 %

Shares of CVLT traded down $4.46 during midday trading on Thursday, reaching $157.79. The stock had a trading volume of 74,206 shares, compared to its average volume of 352,382. The company has a market capitalization of $6.91 billion, a price-to-earnings ratio of 43.15 and a beta of 0.60. The company’s 50-day moving average is $149.72 and its 200 day moving average is $129.96. Commvault Systems, Inc. has a 12-month low of $64.32 and a 12-month high of $171.26.

Commvault Systems (NASDAQ:CVLT) last issued its quarterly earnings results on Tuesday, July 30th. The software maker reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.12. The business had revenue of $224.67 million for the quarter, compared to analysts’ expectations of $215.54 million. Commvault Systems had a net margin of 20.19% and a return on equity of 32.16%. The business’s quarterly revenue was up 13.4% on a year-over-year basis. During the same period last year, the business earned $0.29 earnings per share. 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.