National Wealth Management Group LLC Invests $376,000 in Commvault Systems, Inc. (NASDAQ:CVLT)

National Wealth Management Group LLC acquired a new stake 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. The institutional investor acquired 2,443 shares of the software maker’s stock, valued at approximately $376,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Capital Performance Advisors LLP bought a new stake in Commvault Systems in the third quarter valued at $33,000. National Bank of Canada FI acquired a new stake in shares of Commvault Systems in the second quarter valued at approximately $30,000. Hexagon Capital Partners LLC raised its holdings in shares of Commvault Systems by 124.8% during the second 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 during the last quarter. Signaturefd LLC boosted its position in shares of 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 during the period. Finally, GAMMA Investing LLC increased its position in Commvault Systems by 140.5% in the 2nd quarter. GAMMA Investing LLC now owns 529 shares of the software maker’s stock valued at $64,000 after acquiring an additional 309 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Oppenheimer initiated coverage on Commvault Systems in a research report on Wednesday, November 13th. They set an “outperform” rating and a $200.00 price target for the company. Guggenheim lowered shares of Commvault Systems from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 15th. KeyCorp boosted their price target 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. StockNews.com cut shares of Commvault Systems from a “strong-buy” rating to a “buy” rating in a report on Friday, November 1st. Finally, Royal Bank of Canada boosted their target price on Commvault Systems from $164.00 to $182.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $151.25.

Insider Activity at Commvault Systems

In related news, CEO Sanjay Mirchandani sold 10,775 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $165.30, for a total value of $1,781,107.50. Following the completion of the sale, the chief executive officer now owns 459,969 shares in the company, valued at approximately $76,032,875.70. This represents a 2.29 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Gary Merrill sold 1,523 shares of the firm’s stock in a transaction that occurred 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 directly owns 93,007 shares of the company’s stock, valued at $15,335,924.23. This represents a 1.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 13,530 shares of company stock worth $2,221,827 in the last quarter. 1.00% of the stock is owned by company insiders.

Commvault Systems Stock Performance

Shares of NASDAQ:CVLT opened at $171.63 on Thursday. The stock has a market capitalization of $7.51 billion, a price-to-earnings ratio of 43.45 and a beta of 0.59. Commvault Systems, Inc. has a 1-year low of $72.20 and a 1-year high of $178.72. The company has a 50 day moving average price of $157.72 and a 200 day moving average price of $139.43.

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

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.