Centaurus Financial Inc. Takes Position in Commvault Systems, Inc. (NASDAQ:CVLT)

Centaurus Financial Inc. bought a new stake in Commvault Systems, Inc. (NASDAQ:CVLT) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 820 shares of the software maker’s stock, valued at approximately $126,000.

Other hedge funds have also recently modified their holdings of the company. Capital Performance Advisors LLP purchased a new stake in shares of Commvault Systems in the third quarter valued at about $33,000. National Bank of Canada FI purchased a new stake in shares of Commvault Systems in the second quarter valued at about $30,000. Hexagon Capital Partners LLC grew its holdings 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 grew 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 purchasing an additional 170 shares during the period. Finally, GAMMA Investing LLC grew its holdings in shares of Commvault Systems by 140.5% in the second quarter. GAMMA Investing LLC now owns 529 shares of the software maker’s stock valued at $64,000 after purchasing an additional 309 shares during the period. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CVLT. Royal Bank of Canada upped 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. StockNews.com lowered shares of Commvault Systems from a “strong-buy” rating to a “buy” rating in a report on Friday, November 1st. Guggenheim lowered shares of Commvault Systems from a “buy” rating to a “neutral” rating in a research note on Tuesday, October 15th. DA Davidson increased their target price on shares of Commvault Systems from $170.00 to $175.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Finally, Oppenheimer assumed coverage on shares of Commvault Systems in a research note on Wednesday, November 13th. They set an “outperform” rating and a $200.00 target price for the company. Four investment 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 a consensus rating of “Moderate Buy” and a consensus target price of $151.25.

Insider Transactions at Commvault Systems

In related news, CEO Sanjay Mirchandani sold 10,775 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Gary Merrill sold 1,523 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $164.89, for a total transaction of $251,127.47. Following the completion of the sale, the insider now directly owns 93,007 shares in the company, valued at approximately $15,335,924.23. This trade represents a 1.61 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

Commvault Systems Stock Performance

Shares of CVLT opened at $171.63 on Friday. The stock has a market capitalization of $7.51 billion, a PE ratio of 43.45 and a beta of 0.59. Commvault Systems, Inc. has a 1 year low of $72.20 and a 1 year high of $178.72. The company’s 50-day simple moving average is $158.09 and its 200-day simple moving average is $139.65.

Commvault Systems (NASDAQ:CVLT) last issued its quarterly earnings results on Tuesday, October 29th. The software maker reported $0.83 earnings per share (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% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.30 earnings per share. On average, sell-side analysts predict that Commvault Systems, Inc. will post 1.66 earnings per share for the current year.

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.