Dynamic Technology Lab Private Ltd Invests $1.59 Million in Commvault Systems, Inc. (NASDAQ:CVLT)

Dynamic Technology Lab Private Ltd acquired a new stake in Commvault Systems, Inc. (NASDAQ:CVLT) in the 3rd quarter, HoldingsChannel.com reports. The firm acquired 10,339 shares of the software maker’s stock, valued at approximately $1,591,000.

Other large investors have also recently bought and sold shares of the company. National Bank of Canada FI bought a new stake in shares of Commvault Systems during the 2nd quarter worth about $30,000. Capital Performance Advisors LLP acquired a new position in Commvault Systems during the third quarter valued at approximately $33,000. Hexagon Capital Partners LLC raised its position in shares of 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 purchasing an additional 196 shares during the period. Signaturefd LLC lifted its stake in shares of Commvault Systems by 70.8% in the second 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 stake in shares of Commvault Systems in the second quarter worth $56,000. 93.50% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on CVLT shares. Oppenheimer assumed coverage on shares of Commvault Systems in a report on Wednesday, November 13th. They issued an “outperform” rating and a $200.00 target price on the stock. StockNews.com lowered Commvault Systems from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 1st. Royal Bank of Canada increased 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 target on Commvault Systems from $140.00 to $170.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Finally, Guggenheim cut Commvault Systems from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 15th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Commvault Systems presently has an average rating of “Moderate Buy” and an average target price of $151.25.

Commvault Systems Trading Up 0.6 %

CVLT opened at $175.60 on Tuesday. The stock’s 50 day simple moving average is $156.18 and its 200-day simple moving average is $138.28. The stock has a market cap of $7.68 billion, a PE 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.

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

Insider Buying and Selling

In other Commvault Systems news, CEO Sanjay Mirchandani sold 10,775 shares of the stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 459,969 shares in the company, valued at $76,032,875.70. This represents a 2.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Allison Pickens sold 1,232 shares of Commvault Systems stock in a transaction on 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 directly 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 13,530 shares of company stock valued at $2,221,827 over the last quarter. Corporate insiders own 1.00% of the company’s stock.

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.