Point72 DIFC Ltd Acquires New Shares in Commvault Systems, Inc. (NASDAQ:CVLT)

Point72 DIFC Ltd acquired a new stake in shares of Commvault Systems, Inc. (NASDAQ:CVLT) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 459 shares of the software maker’s stock, valued at approximately $71,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Summit Partners Public Asset Management LLC acquired a new position in shares of Commvault Systems during the 3rd quarter worth about $67,722,000. AQR Capital Management LLC increased its position 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 buying an additional 162,722 shares during the period. Renaissance Technologies LLC grew its stake 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 last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Commvault Systems by 25.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 586,795 shares of the software maker’s stock worth $90,278,000 after purchasing an additional 120,779 shares during the period. Finally, Congress Asset Management Co. increased its stake in Commvault Systems by 29.4% during the third quarter. Congress Asset Management Co. now owns 492,162 shares of the software maker’s stock valued at $75,719,000 after acquiring an additional 111,715 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

Commvault Systems Stock Down 2.0 %

Commvault Systems stock opened at $172.21 on Tuesday. The stock has a 50-day simple moving average of $160.85 and a 200 day simple moving average of $143.13. The stock has a market capitalization of $7.53 billion, a price-to-earnings ratio of 43.60 and a beta of 0.61. Commvault Systems, Inc. has a 12-month low of $73.33 and a 12-month high of $178.72.

Commvault Systems (NASDAQ:CVLT) last announced 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. 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 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 company’s revenue was up 16.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Commvault Systems, Inc. will post 1.66 EPS for the current year.

Analyst Ratings Changes

CVLT has been the subject of several recent research reports. Guggenheim lowered shares of Commvault Systems from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 15th. Royal Bank of Canada raised their target price 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. StockNews.com cut Commvault Systems from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 1st. Oppenheimer began coverage on Commvault Systems in a report on Wednesday, November 13th. They set an “outperform” rating and a $200.00 price objective for the company. Finally, 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 report on Friday, September 6th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $151.25.

Insider Buying and Selling

In other Commvault Systems news, insider Gary Merrill sold 1,523 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $164.89, for a total transaction of $251,127.47. Following the transaction, the insider now directly owns 93,007 shares in the company, valued at approximately $15,335,924.23. This represents a 1.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Sanjay Mirchandani sold 10,775 shares of Commvault Systems 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 sale, the chief executive officer now owns 459,969 shares of the company’s stock, valued at approximately $76,032,875.70. This represents a 2.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 13,530 shares of company stock worth $2,244,755 in the last quarter. Insiders own 1.00% of the company’s stock.

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.