Angeles Wealth Management LLC Invests $726,000 in Commvault Systems, Inc. (NASDAQ:CVLT)

Angeles Wealth Management LLC purchased a new position in Commvault Systems, Inc. (NASDAQ:CVLT) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 4,721 shares of the software maker’s stock, valued at approximately $726,000.

Other large investors have also recently made changes to their positions in the company. SG Americas Securities LLC raised its position in shares of Commvault Systems by 504.6% in the second quarter. SG Americas Securities LLC now owns 13,016 shares of the software maker’s stock worth $1,582,000 after buying an additional 10,863 shares in the last quarter. Ontario Teachers Pension Plan Board raised its position in shares of Commvault Systems by 23.4% in the first quarter. Ontario Teachers Pension Plan Board now owns 25,770 shares of the software maker’s stock worth $2,614,000 after buying an additional 4,888 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp purchased a new stake in shares of Commvault Systems in the first quarter worth $595,000. Intech Investment Management LLC purchased a new stake in shares of Commvault Systems in the second quarter worth $2,221,000. Finally, BOKF NA raised its position in shares of Commvault Systems by 55.3% in the first quarter. BOKF NA now owns 3,119 shares of the software maker’s stock worth $313,000 after buying an additional 1,110 shares in the last quarter. 93.50% of the stock is owned by institutional investors.

Commvault Systems Price Performance

NASDAQ CVLT traded down $0.50 during trading hours on Friday, reaching $155.69. 437,408 shares of the stock traded hands, compared to its average volume of 448,649. The stock has a 50 day simple moving average of $149.93 and a two-hundred day simple moving average of $130.82. Commvault Systems, Inc. has a 1 year low of $65.43 and a 1 year high of $171.26. The company has a market cap of $6.81 billion, a price-to-earnings ratio of 39.42 and a beta of 0.59.

Commvault Systems (NASDAQ:CVLT) last announced its quarterly earnings data on Tuesday, October 29th. The software maker reported $0.83 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $233.28 million for the quarter, compared to analysts’ expectations of $220.76 million. During the same period last year, the firm earned $0.30 earnings per share. The company’s revenue for the quarter was up 16.1% compared to the same quarter last year. On average, sell-side analysts forecast that Commvault Systems, Inc. will post 1.68 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CVLT has been the topic of a number of recent analyst reports. DA Davidson increased their price objective on Commvault Systems from $170.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. KeyCorp increased their price objective on Commvault Systems from $140.00 to $170.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. StockNews.com downgraded Commvault Systems from a “strong-buy” rating to a “buy” rating in a research report on Friday. Royal Bank of Canada raised their price target on Commvault Systems from $164.00 to $182.00 and gave the company a “sector perform” rating in a research report on Wednesday. Finally, Piper Sandler raised their price target on Commvault Systems from $107.00 to $123.00 and gave the company a “neutral” rating in a research report on Monday, July 15th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $144.29.

Insider Activity

In other news, Director Allison Pickens sold 1,232 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $153.89, for a total transaction of $189,592.48. Following the transaction, the director now directly owns 7,131 shares of the company’s stock, valued at approximately $1,097,389.59. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Gary Merrill sold 17,388 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $150.76, for a total value of $2,621,414.88. Following the sale, the insider now directly owns 94,530 shares of the company’s stock, valued at $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 available through this link. Also, Director Allison Pickens sold 1,232 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $153.89, for a total value of $189,592.48. Following the completion of the sale, the director now directly owns 7,131 shares in the company, valued at $1,097,389.59. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.