Pinnacle Wealth Management LLC Acquires Shares of 4,325 CommVault Systems, Inc. $CVLT

Pinnacle Wealth Management LLC acquired a new stake in CommVault Systems, Inc. (NASDAQ:CVLT) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 4,325 shares of the software maker’s stock, valued at approximately $682,000. CommVault Systems accounts for approximately 0.8% of Pinnacle Wealth Management LLC’s holdings, making the stock its 27th biggest holding.

Several other institutional investors also recently bought and sold shares of the company. Invesco Ltd. boosted its position in shares of CommVault Systems by 7.1% in the 1st quarter. Invesco Ltd. now owns 1,777,307 shares of the software maker’s stock worth $280,388,000 after buying an additional 117,199 shares in the last quarter. Nuveen LLC purchased a new stake in shares of CommVault Systems in the 1st quarter worth about $116,223,000. Northern Trust Corp boosted its position in shares of CommVault Systems by 9.8% in the 4th quarter. Northern Trust Corp now owns 651,973 shares of the software maker’s stock worth $98,389,000 after buying an additional 58,239 shares in the last quarter. Congress Asset Management Co. boosted its position in shares of CommVault Systems by 7.7% in the 1st quarter. Congress Asset Management Co. now owns 560,442 shares of the software maker’s stock worth $88,415,000 after buying an additional 40,064 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. boosted its position in shares of CommVault Systems by 14.6% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 517,273 shares of the software maker’s stock worth $78,062,000 after buying an additional 65,822 shares in the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

CommVault Systems Stock Performance

NASDAQ CVLT opened at $180.02 on Monday. CommVault Systems, Inc. has a one year low of $128.07 and a one year high of $200.68. The company’s 50 day moving average price is $177.81 and its 200 day moving average price is $170.92. The firm has a market capitalization of $8.00 billion, a price-to-earnings ratio of 100.01 and a beta of 0.70.

CommVault Systems (NASDAQ:CVLT) last posted its quarterly earnings results on Tuesday, July 29th. The software maker reported $1.01 EPS for the quarter, beating the consensus estimate of $0.97 by $0.04. The firm had revenue of $281.98 million for the quarter, compared to analyst estimates of $267.83 million. CommVault Systems had a net margin of 7.70% and a return on equity of 30.83%. The company’s revenue was up 26% compared to the same quarter last year. Sell-side analysts forecast that CommVault Systems, Inc. will post 1.65 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently commented on CVLT. KeyCorp boosted their price objective on shares of CommVault Systems from $195.00 to $225.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 30th. Guggenheim set a $220.00 price target on shares of CommVault Systems in a research note on Tuesday, July 29th. Wells Fargo & Company raised their price target on shares of CommVault Systems from $190.00 to $220.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 30th. Royal Bank Of Canada raised their price target on shares of CommVault Systems from $185.00 to $217.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 30th. Finally, DA Davidson raised their price target on shares of CommVault Systems from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday, July 30th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, CommVault Systems presently has an average rating of “Moderate Buy” and an average target price of $205.63.

Insider Buying and Selling

In other news, CEO Sanjay Mirchandani sold 1,709 shares of the firm’s stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $299,075.00. Following the completion of the sale, the chief executive officer owned 469,648 shares of the company’s stock, valued at approximately $82,188,400. This trade represents a 0.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Gary Merrill sold 1,748 shares of the firm’s stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $174.91, for a total transaction of $305,742.68. Following the sale, the insider directly owned 89,923 shares of the company’s stock, valued at $15,728,431.93. The trade was a 1.91% decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.

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.