Burns Matteson Capital Management LLC Acquires Shares of 2,654 Commvault Systems, Inc. (NASDAQ:CVLT)

Burns Matteson Capital Management LLC acquired a new stake in shares of Commvault Systems, Inc. (NASDAQ:CVLT) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 2,654 shares of the software maker’s stock, valued at approximately $408,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. National Bank of Canada FI bought a new position in shares of Commvault Systems during the 2nd quarter valued at about $30,000. Hexagon Capital Partners LLC raised its position in shares of Commvault Systems by 124.8% during the 2nd 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 raised its position in shares of Commvault Systems by 70.8% during the 2nd quarter. Signaturefd LLC now owns 410 shares of the software maker’s stock valued at $50,000 after buying an additional 170 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Commvault Systems by 140.5% during the 2nd quarter. GAMMA Investing LLC now owns 529 shares of the software maker’s stock valued at $64,000 after buying an additional 309 shares in the last quarter. Finally, DT Investment Partners LLC purchased a new stake in shares of Commvault Systems during the 2nd quarter valued at about $69,000. Institutional investors own 93.50% of the company’s stock.

Analysts Set New Price Targets

CVLT has been the topic of several recent research reports. StockNews.com cut shares of Commvault Systems from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 31st. Royal Bank of Canada upped their target price on shares of Commvault Systems from $121.00 to $152.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 31st. Piper Sandler increased their price objective on shares of Commvault Systems from $107.00 to $123.00 and gave the stock a “neutral” rating in a research report on Monday, July 15th. KeyCorp increased their price objective on shares of 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 reissued a “buy” rating and issued a $122.00 price objective on shares of Commvault Systems in a research report on Tuesday, June 25th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $140.00.

Insider Activity

In other news, insider Gary Merrill sold 17,388 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $150.76, for a total transaction of $2,621,414.88. Following the transaction, the insider now directly owns 94,530 shares in the company, valued at approximately $14,251,342.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Allison Pickens sold 1,232 shares of Commvault Systems 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 sale, the director now owns 7,131 shares in the company, valued at $1,097,389.59. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Gary Merrill sold 17,388 shares of Commvault Systems stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $150.76, for a total transaction of $2,621,414.88. Following the completion of the sale, the insider now owns 94,530 shares in the company, valued at approximately $14,251,342.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Commvault Systems Price Performance

Shares of NASDAQ:CVLT traded up $1.88 during trading on Friday, reaching $162.70. 223,831 shares of the company were exchanged, compared to its average volume of 341,981. The firm has a market capitalization of $7.12 billion, a PE ratio of 43.27 and a beta of 0.60. The business’s fifty day simple moving average is $149.88 and its 200-day simple moving average is $125.19. Commvault Systems, Inc. has a 12-month low of $63.70 and a 12-month high of $162.99.

Commvault Systems (NASDAQ:CVLT) last issued its earnings results on Tuesday, July 30th. The software maker reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.12. Commvault Systems had a net margin of 20.19% and a return on equity of 32.16%. The business had revenue of $224.67 million for the quarter, compared to analyst estimates of $215.54 million. During the same period last year, the company posted $0.29 earnings per share. The company’s quarterly revenue was up 13.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Commvault Systems, Inc. will post 1.66 EPS for the current fiscal 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.