Harvest Fund Management Co. Ltd Grows Position in Commvault Systems, Inc. (NASDAQ:CVLT)

Harvest Fund Management Co. Ltd boosted its holdings in Commvault Systems, Inc. (NASDAQ:CVLT) by 122.7% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,400 shares of the software maker’s stock after buying an additional 5,730 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Commvault Systems were worth $1,599,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Dynamic Technology Lab Private Ltd purchased a new position in shares of Commvault Systems during the third quarter valued at approximately $1,591,000. Centaurus Financial Inc. purchased a new stake in Commvault Systems during the 3rd quarter valued at $126,000. Cerity Partners LLC bought a new position in shares of Commvault Systems during the 3rd quarter valued at $506,000. Citigroup Inc. boosted its stake in shares of Commvault Systems by 146.0% in the 3rd quarter. Citigroup Inc. now owns 47,867 shares of the software maker’s stock worth $7,364,000 after buying an additional 28,408 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Commvault Systems by 25.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 586,795 shares of the software maker’s stock worth $90,278,000 after acquiring an additional 120,779 shares during the period. Institutional investors own 93.50% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Activity at Commvault Systems

In other news, Director Allison Pickens sold 1,232 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was 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. The trade was a 14.73 % 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 1,523 shares of the firm’s stock in a transaction 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 approximately $15,335,924.23. This represents a 1.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,530 shares of company stock valued at $2,221,827. Insiders own 1.00% of the company’s stock.

Commvault Systems Price Performance

Shares of CVLT opened at $175.60 on Tuesday. The stock has a market capitalization of $7.68 billion, a price-to-earnings ratio of 44.46 and a beta of 0.59. Commvault Systems, Inc. has a 1 year low of $70.72 and a 1 year high of $178.29. The business’s 50 day simple moving average is $156.18 and its 200-day simple moving average is $138.28.

Commvault Systems (NASDAQ:CVLT) last released its quarterly earnings results on Tuesday, October 29th. The software maker reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.07. Commvault Systems had a net margin of 19.75% and a return on equity of 31.62%. The company had revenue of $233.28 million for the quarter, compared to the consensus estimate of $220.76 million. During the same quarter in the prior year, the firm earned $0.30 earnings per share. Commvault Systems’s revenue was up 16.1% on a year-over-year basis. On average, sell-side analysts expect that Commvault Systems, Inc. will post 1.66 earnings per share for the current 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.