Oak Ridge Investments LLC Acquires New Position in Commvault Systems, Inc. (NASDAQ:CVLT)

Oak Ridge Investments LLC bought a new stake in Commvault Systems, Inc. (NASDAQ:CVLT) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 16,969 shares of the software maker’s stock, valued at approximately $2,561,000.

Other institutional investors also recently made changes to their positions in the company. Capital Performance Advisors LLP bought a new stake in shares of Commvault Systems during the third quarter valued at approximately $33,000. Point72 DIFC Ltd bought a new stake in Commvault Systems during the 3rd quarter valued at $71,000. Signaturefd LLC boosted its position in Commvault Systems by 43.9% during the 3rd quarter. Signaturefd LLC now owns 590 shares of the software maker’s stock worth $91,000 after acquiring an additional 180 shares during the period. TD Private Client Wealth LLC acquired a new position in Commvault Systems during the 3rd quarter worth $105,000. Finally, Centaurus Financial Inc. bought a new position in shares of Commvault Systems in the third quarter worth $126,000. 93.50% of the stock is owned by institutional investors.

Commvault Systems Stock Performance

Shares of CVLT opened at $161.28 on Friday. The firm has a market cap of $7.05 billion, a PE ratio of 40.83 and a beta of 0.65. The firm’s 50 day moving average price is $164.92 and its 200 day moving average price is $151.89. Commvault Systems, Inc. has a twelve month low of $77.56 and a twelve month high of $178.72.

Commvault Systems (NASDAQ:CVLT) last released its quarterly earnings results on Tuesday, October 29th. The software maker reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.07. The business had revenue of $233.28 million for the quarter, compared to the consensus estimate of $220.76 million. Commvault Systems had a net margin of 19.75% and a return on equity of 31.62%. Commvault Systems’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.30 EPS. On average, sell-side analysts anticipate that Commvault Systems, Inc. will post 1.66 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have commented on CVLT. Oppenheimer initiated coverage on shares of Commvault Systems in a research report on Wednesday, November 13th. They set an “outperform” rating and a $200.00 price target on the stock. Royal Bank of Canada upped their target price on Commvault Systems from $164.00 to $182.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 30th. KeyCorp began coverage on Commvault Systems in a research report on Thursday. They set an “overweight” rating and a $192.00 price target on the stock. StockNews.com lowered Commvault Systems from a “strong-buy” rating to a “buy” rating in a report on Thursday. Finally, Guggenheim lowered shares of Commvault Systems from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 15th. Five investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Commvault Systems presently has a consensus rating of “Moderate Buy” and an average target price of $154.56.

Insider Activity

In other Commvault Systems news, Director Allison Pickens sold 1,232 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $172.50, for a total transaction of $212,520.00. Following the completion of the sale, the director now directly owns 5,899 shares in the company, valued at $1,017,577.50. This represents a 17.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sanjay Mirchandani sold 10,775 shares of Commvault Systems stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 459,969 shares in the company, valued at $76,032,875.70. The trade was a 2.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 13,530 shares of company stock valued at $2,244,755. 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.