SG Americas Securities LLC Makes New $1.32 Million Investment in Commvault Systems, Inc. (NASDAQ:CVLT)

SG Americas Securities LLC bought a new position in shares of Commvault Systems, Inc. (NASDAQ:CVLT) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 8,381 shares of the software maker’s stock, valued at approximately $1,322,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Virtu Financial LLC raised its position in shares of Commvault Systems by 63.9% during the fourth quarter. Virtu Financial LLC now owns 8,243 shares of the software maker’s stock worth $1,244,000 after acquiring an additional 3,214 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of Commvault Systems by 0.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 632,870 shares of the software maker’s stock worth $95,506,000 after acquiring an additional 4,957 shares during the last quarter. Harbor Capital Advisors Inc. raised its position in shares of Commvault Systems by 40,181.8% during the first quarter. Harbor Capital Advisors Inc. now owns 8,862 shares of the software maker’s stock worth $1,398,000 after acquiring an additional 8,840 shares during the last quarter. Banco Santander S.A. bought a new stake in shares of Commvault Systems during the fourth quarter worth $833,000. Finally, Wedge Capital Management L L P NC raised its position in shares of Commvault Systems by 1,936.0% during the first quarter. Wedge Capital Management L L P NC now owns 360,355 shares of the software maker’s stock worth $56,850,000 after acquiring an additional 342,656 shares during the last quarter. Institutional investors own 93.50% of the company’s stock.

Commvault Systems Trading Up 1.6%

NASDAQ:CVLT opened at $187.54 on Tuesday. Commvault Systems, Inc. has a 1 year low of $116.45 and a 1 year high of $192.01. The stock has a market cap of $8.28 billion, a price-to-earnings ratio of 49.22 and a beta of 0.75. The stock has a 50-day moving average price of $171.64 and a two-hundred day moving average price of $166.26.

Commvault Systems (NASDAQ:CVLT) last posted its earnings results on Tuesday, April 29th. The software maker reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.10. Commvault Systems had a return on equity of 28.69% and a net margin of 18.14%. The firm had revenue of $275.04 million during the quarter, compared to analysts’ expectations of $262.52 million. During the same period in the previous year, the firm earned $0.79 earnings per share. The company’s revenue was up 23.2% on a year-over-year basis. Sell-side analysts forecast that Commvault Systems, Inc. will post 1.65 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on CVLT shares. Royal Bank of Canada boosted their target price on Commvault Systems from $175.00 to $185.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 30th. KeyCorp dropped their target price on Commvault Systems from $195.00 to $185.00 and set an “overweight” rating for the company in a research report on Thursday, April 17th. Oppenheimer upped their price objective on Commvault Systems from $180.00 to $200.00 and gave the company an “outperform” rating in a report on Wednesday, April 30th. Wall Street Zen upgraded Commvault Systems from a “hold” rating to a “buy” rating in a report on Thursday, May 1st. Finally, Wells Fargo & Company upped their price objective on Commvault Systems from $180.00 to $190.00 and gave the company an “overweight” rating in a report on Wednesday, April 30th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $175.25.

Insider Buying and Selling at Commvault Systems

In other news, CEO Sanjay Mirchandani sold 1,709 shares of the company’s stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $299,075.00. Following the completion of the transaction, the chief executive officer now directly owns 469,648 shares of the company’s stock, valued at $82,188,400. This represents a 0.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Gary Merrill sold 1,748 shares of the company’s stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $174.91, for a total value of $305,742.68. Following the transaction, the insider now directly owns 89,923 shares of the company’s stock, valued at $15,728,431.93. This represents a 1.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,957 shares of company stock valued at $859,428. Company 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.