Charles Schwab Investment Management Inc. Acquires 120,779 Shares of Commvault Systems, Inc. (NASDAQ:CVLT)

Charles Schwab Investment Management Inc. lifted its stake in Commvault Systems, Inc. (NASDAQ:CVLT) by 25.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 586,795 shares of the software maker’s stock after buying an additional 120,779 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.34% of Commvault Systems worth $90,278,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new stake in shares of Commvault Systems during the 3rd quarter worth $33,000. National Bank of Canada FI bought a new stake in Commvault Systems in the second quarter valued at approximately $30,000. Hexagon Capital Partners LLC raised its stake in Commvault Systems by 124.8% during the second quarter. Hexagon Capital Partners LLC now owns 353 shares of the software maker’s stock worth $43,000 after buying an additional 196 shares during the last quarter. Signaturefd LLC raised its position in shares of Commvault Systems by 70.8% in the 2nd quarter. Signaturefd LLC now owns 410 shares of the software maker’s stock worth $50,000 after acquiring an additional 170 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of Commvault Systems by 140.5% in the 2nd quarter. GAMMA Investing LLC now owns 529 shares of the software maker’s stock valued at $64,000 after acquiring an additional 309 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Wall Street Analysts Forecast Growth

CVLT has been the subject of a number of research analyst reports. 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 report on Wednesday, October 30th. DA Davidson upped their price target on Commvault Systems from $170.00 to $175.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Oppenheimer assumed coverage on Commvault Systems in a report on Wednesday, November 13th. They issued an “outperform” rating and a $200.00 price target for the company. StockNews.com cut shares of Commvault Systems from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 1st. Finally, Guggenheim downgraded shares of Commvault Systems from a “buy” rating to a “neutral” rating in a research note on Tuesday, October 15th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $151.25.

Commvault Systems Price Performance

Shares of Commvault Systems stock opened at $177.60 on Wednesday. The company’s fifty day simple moving average is $156.68 and its 200-day simple moving average is $138.74. Commvault Systems, Inc. has a 1-year low of $70.72 and a 1-year high of $178.72. The stock has a market capitalization of $7.77 billion, a PE ratio of 44.46 and a beta of 0.59.

Commvault Systems (NASDAQ:CVLT) last announced its quarterly earnings results on Tuesday, October 29th. The software maker reported $0.83 EPS for the quarter, topping the consensus estimate of $0.76 by $0.07. The business had revenue of $233.28 million for the quarter, compared to analysts’ expectations of $220.76 million. Commvault Systems had a net margin of 19.75% and a return on equity of 31.62%. The business’s quarterly revenue was up 16.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.30 EPS. As a group, research analysts anticipate that Commvault Systems, Inc. will post 1.66 EPS for the current year.

Insider Buying and Selling

In other Commvault Systems news, insider Gary Merrill sold 1,523 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $164.89, for a total transaction of $251,127.47. Following the sale, the insider now owns 93,007 shares of the company’s stock, valued at approximately $15,335,924.23. This trade represents a 1.61 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sanjay Mirchandani sold 10,775 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $165.30, for a total value of $1,781,107.50. Following the sale, the chief executive officer now owns 459,969 shares of the company’s stock, valued at $76,032,875.70. This trade represents a 2.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,530 shares of company stock valued at $2,221,827. Company insiders own 1.00% of the company’s stock.

Commvault Systems 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.