Sawgrass Asset Management LLC Invests $207,000 in Commvault Systems, Inc. (NASDAQ:CVLT)

Sawgrass Asset Management LLC acquired a new stake in Commvault Systems, Inc. (NASDAQ:CVLT) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 1,343 shares of the software maker’s stock, valued at approximately $207,000.

Other hedge funds have also added to or reduced their stakes in the company. National Bank of Canada FI bought a new stake in shares of Commvault Systems in the second quarter worth about $30,000. Capital Performance Advisors LLP acquired a new stake in Commvault Systems during the 3rd quarter worth approximately $33,000. Hexagon Capital Partners LLC lifted its stake in Commvault Systems by 124.8% in 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 boosted its holdings in shares of Commvault Systems by 70.8% in the second quarter. Signaturefd LLC now owns 410 shares of the software maker’s stock valued at $50,000 after buying an additional 170 shares during the period. Finally, Strategic Financial Concepts LLC bought a new stake in shares of Commvault Systems during the second quarter worth $56,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on CVLT shares. Guggenheim lowered shares of Commvault Systems from a “buy” rating to a “neutral” rating in a research note on Tuesday, October 15th. Oppenheimer initiated coverage on Commvault Systems in a research report on Wednesday, November 13th. They issued an “outperform” rating and a $200.00 target price on the stock. Royal Bank of Canada boosted their target price on Commvault Systems from $164.00 to $182.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 30th. KeyCorp lifted their price objective on shares of Commvault Systems from $140.00 to $170.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Finally, StockNews.com cut shares of 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.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $151.25.

Commvault Systems Trading Down 1.5 %

Shares of CVLT opened at $168.53 on Monday. The company’s fifty day simple moving average is $153.68 and its 200 day simple moving average is $135.85. Commvault Systems, Inc. has a 1-year low of $68.02 and a 1-year high of $178.29. The company has a market cap of $7.37 billion, a price-to-earnings ratio of 42.67 and a beta of 0.59.

Commvault Systems (NASDAQ:CVLT) last released its quarterly earnings data on Tuesday, October 29th. The software maker reported $0.83 earnings per share for the quarter, topping the consensus estimate 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 analyst estimates of $220.76 million. During the same period in the previous year, the business earned $0.30 EPS. Commvault Systems’s revenue for the quarter was up 16.1% compared to the same quarter last year. As a group, research analysts forecast that Commvault Systems, Inc. will post 1.66 earnings per share for the current year.

Insider Buying and Selling at Commvault Systems

In related news, Director Allison Pickens sold 1,232 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $153.89, for a total value of $189,592.48. Following the transaction, the director now owns 7,131 shares in the company, valued at approximately $1,097,389.59. This represents a 14.73 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Gary Merrill sold 17,388 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $150.76, for a total transaction of $2,621,414.88. Following the sale, the insider now owns 94,530 shares of the company’s stock, valued at $14,251,342.80. This trade represents a 15.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate 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.