Ethic Inc. Makes New Investment in Commvault Systems, Inc. (NASDAQ:CVLT)

Ethic Inc. bought a new position in shares of Commvault Systems, Inc. (NASDAQ:CVLT) during the 4th quarter, Holdings Channel reports. The firm bought 1,487 shares of the software maker’s stock, valued at approximately $224,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CVLT. Fred Alger Management LLC acquired a new stake in shares of Commvault Systems in the fourth quarter valued at approximately $631,000. Deutsche Bank AG grew its position in shares of Commvault Systems by 81.0% in the fourth quarter. Deutsche Bank AG now owns 79,380 shares of the software maker’s stock valued at $11,979,000 after purchasing an additional 35,514 shares during the last quarter. Driehaus Capital Management LLC grew its position in shares of Commvault Systems by 20.8% in the fourth quarter. Driehaus Capital Management LLC now owns 512,251 shares of the software maker’s stock valued at $77,304,000 after purchasing an additional 88,232 shares during the last quarter. Cetera Investment Advisers grew its position in shares of Commvault Systems by 11.6% in the fourth quarter. Cetera Investment Advisers now owns 1,716 shares of the software maker’s stock valued at $259,000 after purchasing an additional 179 shares during the last quarter. Finally, Bosun Asset Management LLC grew its position in shares of Commvault Systems by 39.8% in the fourth quarter. Bosun Asset Management LLC now owns 7,583 shares of the software maker’s stock valued at $1,144,000 after purchasing an additional 2,160 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Commvault Systems Stock Down 2.2%

Shares of CVLT opened at $178.04 on Friday. The firm has a market cap of $7.86 billion, a PE ratio of 46.73 and a beta of 0.71. The company’s fifty day moving average is $161.33 and its two-hundred day moving average is $164.39. Commvault Systems, Inc. has a fifty-two week low of $105.76 and a fifty-two week high of $190.11.

Commvault Systems (NASDAQ:CVLT) last announced its quarterly earnings results on Tuesday, April 29th. The software maker reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.10. The company had revenue of $275.04 million for the quarter, compared to analyst estimates of $262.52 million. Commvault Systems had a net margin of 18.14% and a return on equity of 28.69%. Commvault Systems’s revenue for the quarter was up 23.2% on a year-over-year basis. During the same quarter last year, the business earned $0.79 EPS. As a group, equities research analysts anticipate that Commvault Systems, Inc. will post 1.65 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently commented on CVLT shares. StockNews.com upgraded shares of Commvault Systems from a “hold” rating to a “buy” rating in a research report on Thursday, May 1st. Wells Fargo & Company increased their price target on shares of Commvault Systems from $180.00 to $190.00 and gave the company an “overweight” rating in a research report on Wednesday, April 30th. William Blair raised shares of Commvault Systems from a “market perform” rating to an “outperform” rating in a research note on Thursday, January 30th. Oppenheimer upped their price objective on shares of Commvault Systems from $180.00 to $200.00 and gave the company an “outperform” rating in a research note on Wednesday, April 30th. Finally, Royal Bank of Canada upped their price objective on shares of Commvault Systems from $175.00 to $185.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 30th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $175.25.

Insider Buying and Selling at Commvault Systems

In related news, insider Gary Merrill sold 3,287 shares of Commvault Systems stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $186.94, for a total transaction of $614,471.78. Following the transaction, the insider now owns 87,316 shares in the company, valued at approximately $16,322,853.04. The trade was a 3.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Sanjay Mirchandani sold 12,318 shares of Commvault Systems stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $185.96, for a total transaction of $2,290,655.28. Following the transaction, the chief executive officer now owns 427,231 shares in the company, valued at $79,447,876.76. The trade was a 2.80% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 17,105 shares of company stock worth $3,159,737 in the last quarter. 1.00% of the stock is owned by 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.