Envestnet Asset Management Inc. Raises Position in Commvault Systems, Inc. (NASDAQ:CVLT)

Envestnet Asset Management Inc. grew its position in Commvault Systems, Inc. (NASDAQ:CVLTGet Rating) by 1.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 35,905 shares of the software maker’s stock after buying an additional 466 shares during the period. Envestnet Asset Management Inc. owned approximately 0.08% of Commvault Systems worth $2,258,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Janney Montgomery Scott LLC purchased a new position in Commvault Systems in the second quarter worth about $226,000. IQ EQ FUND MANAGEMENT IRELAND Ltd raised its holdings in Commvault Systems by 17.9% in the second quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 14,438 shares of the software maker’s stock worth $908,000 after buying an additional 2,189 shares during the last quarter. Mount Yale Investment Advisors LLC raised its holdings in shares of Commvault Systems by 9.6% during the second quarter. Mount Yale Investment Advisors LLC now owns 4,012 shares of the software maker’s stock valued at $252,000 after purchasing an additional 350 shares during the last quarter. Xponance Inc. raised its holdings in shares of Commvault Systems by 6.2% during the second quarter. Xponance Inc. now owns 6,921 shares of the software maker’s stock valued at $435,000 after purchasing an additional 404 shares during the last quarter. Finally, Parallel Advisors LLC raised its holdings in shares of Commvault Systems by 294.1% during the second quarter. Parallel Advisors LLC now owns 1,809 shares of the software maker’s stock valued at $114,000 after purchasing an additional 1,350 shares during the last quarter. 93.97% of the stock is owned by hedge funds and other institutional investors.

Commvault Systems Price Performance

CVLT opened at $64.00 on Friday. The firm has a market cap of $2.85 billion, a P/E ratio of 114.29, a PEG ratio of 7.78 and a beta of 0.56. Commvault Systems, Inc. has a 1-year low of $50.26 and a 1-year high of $70.88. The company has a 50 day simple moving average of $57.55 and a two-hundred day simple moving average of $58.91.

Insiders Place Their Bets

In other Commvault Systems news, Director Allison Pickens sold 924 shares of the company’s stock in a transaction that occurred on Wednesday, August 24th. The shares were sold at an average price of $56.86, for a total value of $52,538.64. Following the completion of the transaction, the director now directly owns 9,029 shares in the company, valued at $513,388.94. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Royal Bank of Canada boosted their price objective on shares of Commvault Systems from $63.00 to $66.00 and gave the company a “sector perform” rating in a report on Wednesday, November 2nd. Wells Fargo & Company decreased their price objective on shares of Commvault Systems to $75.00 and set an “outperform” rating for the company in a report on Wednesday, July 27th. Lake Street Capital decreased their price objective on shares of Commvault Systems from $68.00 to $64.00 in a report on Wednesday, July 27th. StockNews.com started coverage on shares of Commvault Systems in a report on Wednesday, October 12th. They set a “strong-buy” rating for the company. Finally, William Blair reaffirmed a “market perform” rating on shares of Commvault Systems in a report on Wednesday, November 2nd. Three investment analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $68.50.

Commvault Systems Profile

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Commvault Systems, Inc provides data protection and information management software applications and related services 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; and Commvault Complete Data Protection, a data protection solution.

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

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