Paloma Partners Management Co Acquires Shares of 1,548 Commvault Systems, Inc. (NASDAQ:CVLT)

Paloma Partners Management Co bought a new position in shares of Commvault Systems, Inc. (NASDAQ:CVLT) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,548 shares of the software maker’s stock, valued at approximately $238,000.

Other hedge funds have also modified their holdings of the company. Capital Performance Advisors LLP acquired a new position in Commvault Systems during the third quarter worth about $33,000. National Bank of Canada FI purchased a new stake in shares of Commvault Systems in the second quarter valued at approximately $30,000. Hexagon Capital Partners LLC increased 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 last quarter. Signaturefd LLC lifted its position in Commvault Systems by 70.8% during the second quarter. Signaturefd LLC now owns 410 shares of the software maker’s stock worth $50,000 after buying an additional 170 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in Commvault Systems by 140.5% during the second quarter. GAMMA Investing LLC now owns 529 shares of the software maker’s stock worth $64,000 after buying an additional 309 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Commvault Systems Stock Performance

Shares of CVLT stock opened at $175.75 on Friday. The firm has a market cap of $7.68 billion, a P/E ratio of 44.49 and a beta of 0.61. The firm’s 50 day moving average price is $160.48 and its 200-day moving average price is $142.25. Commvault Systems, Inc. has a one year low of $73.33 and a one year high of $178.72.

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

Wall Street Analyst Weigh In

CVLT has been the subject of a number of recent research reports. Guggenheim downgraded Commvault Systems from a “buy” rating to a “neutral” rating in a research note on Tuesday, October 15th. DA Davidson lifted 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. StockNews.com lowered shares of Commvault Systems from a “strong-buy” rating to a “buy” rating in a report on Friday, November 1st. Oppenheimer began coverage on shares of Commvault Systems in a report on Wednesday, November 13th. They set an “outperform” rating and a $200.00 price target for the company. Finally, Royal Bank of Canada upped their price objective on Commvault Systems from $164.00 to $182.00 and gave the company a “sector perform” rating in a report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Commvault Systems presently has an average rating of “Moderate Buy” and a consensus target price of $151.25.

Insider Buying and Selling

In other Commvault Systems news, Director Allison Pickens sold 1,232 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $172.50, for a total value of $212,520.00. Following the completion of the transaction, the director now owns 5,899 shares of the company’s stock, valued at $1,017,577.50. This trade represents a 17.28 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Gary Merrill sold 1,523 shares of the business’s 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 completion of the transaction, 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,530 shares of company stock valued at $2,244,755. Corporate insiders own 1.00% of the company’s stock.

About Commvault Systems

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.