Handelsbanken Fonder AB Grows Stake in Commvault Systems, Inc. (NASDAQ:CVLT)

Handelsbanken Fonder AB increased its position in Commvault Systems, Inc. (NASDAQ:CVLT) by 34.7% in the 4th quarter, HoldingsChannel.com reports. The fund owned 8,930 shares of the software maker’s stock after acquiring an additional 2,300 shares during the quarter. Handelsbanken Fonder AB’s holdings in Commvault Systems were worth $713,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Commvault Systems by 2.7% during the 3rd quarter. Vanguard Group Inc. now owns 5,426,814 shares of the software maker’s stock valued at $366,907,000 after purchasing an additional 144,625 shares during the last quarter. Lazard Asset Management LLC increased its holdings in Commvault Systems by 27.6% during the third quarter. Lazard Asset Management LLC now owns 70,516 shares of the software maker’s stock valued at $4,766,000 after buying an additional 15,249 shares during the last quarter. Tudor Investment Corp Et Al bought a new position in Commvault Systems in the third quarter worth approximately $2,611,000. Qube Research & Technologies Ltd purchased a new position in shares of Commvault Systems during the 3rd quarter worth $2,974,000. Finally, Quantedge Capital Pte Ltd grew its position in shares of Commvault Systems by 791.7% during the 3rd quarter. Quantedge Capital Pte Ltd now owns 53,500 shares of the software maker’s stock valued at $3,617,000 after acquiring an additional 47,500 shares during the period. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Royal Bank of Canada raised their target price on Commvault Systems from $86.00 to $97.00 and gave the stock a “sector perform” rating in a report on Wednesday, January 31st. KeyCorp raised Commvault Systems from a “sector weight” rating to an “overweight” rating and set a $109.00 price objective on the stock in a research report on Wednesday, January 31st. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $85.60.

Commvault Systems Stock Up 1.1 %

NASDAQ:CVLT opened at $99.43 on Tuesday. The stock has a market cap of $4.35 billion, a PE ratio of -3,313.23 and a beta of 0.62. The business’s 50-day simple moving average is $97.59 and its two-hundred day simple moving average is $84.20. Commvault Systems, Inc. has a 52 week low of $57.90 and a 52 week high of $102.21.

Commvault Systems (NASDAQ:CVLT) last issued its earnings results on Tuesday, January 30th. The software maker reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.05. Commvault Systems had a positive return on equity of 32.27% and a negative net margin of 0.09%. The company had revenue of $216.81 million for the quarter, compared to the consensus estimate of $208.01 million. During the same quarter last year, the company earned $0.17 EPS. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. Sell-side analysts anticipate that Commvault Systems, Inc. will post 1.35 earnings per share for the current fiscal year.

Insider Buying and Selling at Commvault Systems

In other news, CFO Gary Merrill sold 822 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $97.25, for a total value of $79,939.50. Following the transaction, the chief financial officer now owns 87,945 shares of the company’s stock, valued at $8,552,651.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Gary Merrill sold 822 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $97.25, for a total value of $79,939.50. Following the sale, the chief financial officer now directly owns 87,945 shares in the company, valued at $8,552,651.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Sanjay Mirchandani sold 21,494 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $97.82, for a total value of $2,102,543.08. Following the transaction, the chief executive officer now directly owns 399,356 shares of the company’s stock, valued at $39,065,003.92. The disclosure for this sale can be found here. Insiders sold a total of 23,306 shares of company stock valued at $2,276,265 in the last three months. 1.00% of the stock is currently owned by corporate insiders.

Commvault Systems Company 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.