Quantitative Systematic Strategies LLC Invests $702,000 in CommVault Systems, Inc. (CVLT) Stock

Quantitative Systematic Strategies LLC bought a new position in shares of CommVault Systems, Inc. (NASDAQ:CVLT) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 10,851 shares of the software maker’s stock, valued at approximately $702,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Martingale Asset Management L P raised its stake in CommVault Systems by 0.3% in the third quarter. Martingale Asset Management L P now owns 76,732 shares of the software maker’s stock valued at $5,372,000 after buying an additional 206 shares during the period. Strs Ohio raised its stake in CommVault Systems by 1.5% in the fourth quarter. Strs Ohio now owns 19,700 shares of the software maker’s stock valued at $1,164,000 after buying an additional 300 shares during the period. Menta Capital LLC raised its stake in CommVault Systems by 1.2% in the fourth quarter. Menta Capital LLC now owns 29,853 shares of the software maker’s stock valued at $1,764,000 after buying an additional 349 shares during the period. Comerica Bank raised its stake in CommVault Systems by 1.8% in the fourth quarter. Comerica Bank now owns 25,756 shares of the software maker’s stock valued at $1,633,000 after buying an additional 457 shares during the period. Finally, Teachers Advisors LLC raised its stake in CommVault Systems by 0.7% in the third quarter. Teachers Advisors LLC now owns 75,404 shares of the software maker’s stock valued at $5,278,000 after buying an additional 517 shares during the period. Institutional investors and hedge funds own 90.68% of the company’s stock.

Several analysts have issued reports on CVLT shares. ValuEngine lowered CommVault Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, April 3rd. BidaskClub upgraded CommVault Systems from a “hold” rating to a “buy” rating in a research note on Thursday, December 20th. Zacks Investment Research upgraded CommVault Systems from a “hold” rating to a “buy” rating and set a $71.00 price objective on the stock in a research note on Monday. Finally, Lake Street Capital upped their price objective on CommVault Systems to $69.00 and gave the company a “buy” rating in a research note on Wednesday, January 30th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. CommVault Systems presently has a consensus rating of “Buy” and an average price target of $75.13.

In related news, insider Gary Merrill sold 1,385 shares of the stock in a transaction that occurred on Friday, February 15th. The stock was sold at an average price of $67.87, for a total transaction of $93,999.95. Following the sale, the insider now owns 16,152 shares of the company’s stock, valued at $1,096,236.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Gary B. Smith sold 7,500 shares of the stock in a transaction that occurred on Wednesday, February 6th. The stock was sold at an average price of $68.00, for a total value of $510,000.00. Following the sale, the director now directly owns 36,536 shares in the company, valued at approximately $2,484,448. The disclosure for this sale can be found here. Insiders sold 73,052 shares of company stock worth $4,955,806 in the last ninety days. 13.40% of the stock is owned by company insiders.

CommVault Systems stock opened at $62.68 on Wednesday. CommVault Systems, Inc. has a 12 month low of $51.53 and a 12 month high of $72.65. The company has a market capitalization of $2.88 billion, a PE ratio of -106.24, a PEG ratio of 3.07 and a beta of 1.23.

CommVault Systems (NASDAQ:CVLT) last posted its earnings results on Tuesday, January 29th. The software maker reported $0.54 EPS for the quarter, beating the consensus estimate of $0.42 by $0.12. CommVault Systems had a return on equity of 5.78% and a net margin of 0.57%. The company had revenue of $184.28 million for the quarter, compared to the consensus estimate of $180.66 million. During the same quarter in the prior year, the business earned $0.30 earnings per share. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. Sell-side analysts expect that CommVault Systems, Inc. will post 0.79 EPS for the current fiscal year.

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CommVault Systems Profile

Commvault Systems, Inc provides data protection and information management software applications and related services in the United States, Canada, Latin America, Europe, the Middle East, Africa, Australia, New Zealand, Southeast Asia, and China. The company offers data protection, backup, and recovery software solutions for the backup of databases, files, applications, endpoints, and virtual machines according to data type and recovery profile; and help to optimize storage with deduplication, recover data, and leverage reports.

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Institutional Ownership by Quarter for CommVault Systems (NASDAQ:CVLT)

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