Sumitomo Mitsui Trust Group Inc. Makes New $1.17 Million Investment in Commvault Systems, Inc. (NASDAQ:CVLT)

Sumitomo Mitsui Trust Group Inc. purchased a new stake in shares of Commvault Systems, Inc. (NASDAQ:CVLT) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 7,588 shares of the software maker’s stock, valued at approximately $1,167,000.

Other institutional investors also recently modified their holdings of the company. AQR Capital Management LLC raised its holdings in shares of Commvault Systems by 33.5% during the second quarter. AQR Capital Management LLC now owns 648,858 shares of the software maker’s stock valued at $78,882,000 after purchasing an additional 162,722 shares during the last quarter. Renaissance Technologies LLC grew its position in Commvault Systems by 7.5% in the 2nd quarter. Renaissance Technologies LLC now owns 1,813,487 shares of the software maker’s stock worth $220,466,000 after purchasing an additional 126,800 shares during the period. Congress Asset Management Co. raised its stake in Commvault Systems by 29.4% during the 3rd quarter. Congress Asset Management Co. now owns 492,162 shares of the software maker’s stock valued at $75,719,000 after buying an additional 111,715 shares during the last quarter. M&G Plc purchased a new stake in Commvault Systems during the 2nd quarter valued at $10,265,000. Finally, CANADA LIFE ASSURANCE Co lifted its holdings in shares of Commvault Systems by 247.1% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 110,567 shares of the software maker’s stock valued at $11,205,000 after buying an additional 78,713 shares during the period. 93.50% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Commvault Systems news, insider Gary Merrill sold 17,388 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $150.76, for a total value of $2,621,414.88. Following the completion of the sale, the insider now directly owns 94,530 shares of the company’s stock, valued at $14,251,342.80. The trade was a 15.54 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Allison Pickens sold 1,232 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was 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 $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. Corporate insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Guggenheim cut Commvault Systems from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 15th. KeyCorp raised their price objective on shares of Commvault Systems from $140.00 to $170.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. StockNews.com cut shares of Commvault Systems from a “strong-buy” rating to a “buy” rating in a report on Friday, November 1st. Royal Bank of Canada increased their price target on shares of Commvault Systems from $164.00 to $182.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 30th. Finally, DA Davidson boosted their price objective on shares of Commvault Systems from $170.00 to $175.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $151.25.

Commvault Systems Stock Performance

Shares of CVLT stock opened at $168.65 on Wednesday. The stock has a fifty day simple moving average of $154.15 and a two-hundred day simple moving average of $136.52. Commvault Systems, Inc. has a 52-week low of $69.10 and a 52-week high of $178.29. The firm has a market capitalization of $7.38 billion, a PE ratio of 42.70 and a beta of 0.59.

Commvault Systems (NASDAQ:CVLT) last released its 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. Commvault Systems had a return on equity of 31.62% and a net margin of 19.75%. The firm had revenue of $233.28 million during the quarter, compared to analysts’ expectations of $220.76 million. During the same quarter last year, the business posted $0.30 earnings per share. The firm’s revenue was up 16.1% on a year-over-year basis. On average, sell-side analysts forecast that Commvault Systems, Inc. will post 1.66 EPS for the current fiscal year.

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.