TD Private Client Wealth LLC Makes New Investment in Commvault Systems, Inc. (NASDAQ:CVLT)

TD Private Client Wealth LLC purchased a new position in Commvault Systems, Inc. (NASDAQ:CVLT) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 680 shares of the software maker’s stock, valued at approximately $105,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Intech Investment Management LLC bought a new position in shares of Commvault Systems in the second quarter worth $2,221,000. Charles Schwab Investment Management Inc. grew its stake in shares of Commvault Systems by 25.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 586,795 shares of the software maker’s stock worth $90,278,000 after purchasing an additional 120,779 shares in the last quarter. Summit Partners Public Asset Management LLC bought a new position in shares of Commvault Systems in the third quarter worth $67,722,000. Vontobel Holding Ltd. bought a new position in shares of Commvault Systems in the third quarter worth $1,126,000. Finally, Point72 Hong Kong Ltd grew its stake in shares of Commvault Systems by 37.9% in the third quarter. Point72 Hong Kong Ltd now owns 23,421 shares of the software maker’s stock worth $3,603,000 after purchasing an additional 6,433 shares in the last quarter. Institutional investors own 93.50% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on CVLT shares. Royal Bank of Canada raised their target price on Commvault Systems from $164.00 to $182.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 30th. StockNews.com cut Commvault Systems from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 1st. Guggenheim cut Commvault Systems from a “buy” rating to a “neutral” rating in a research note on Tuesday, October 15th. Oppenheimer started coverage on Commvault Systems in a research note on Wednesday, November 13th. They set an “outperform” rating and a $200.00 target price for the company. Finally, DA Davidson raised their target price on Commvault Systems from $170.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $151.25.

Commvault Systems Stock Down 2.6 %

Shares of NASDAQ CVLT opened at $168.69 on Monday. Commvault Systems, Inc. has a 12 month low of $73.33 and a 12 month high of $178.72. The company has a market cap of $7.38 billion, a price-to-earnings ratio of 42.71 and a beta of 0.61. The business has a fifty day simple moving average of $162.52 and a 200-day simple moving average of $144.85.

Commvault Systems (NASDAQ:CVLT) last announced its earnings results on Tuesday, October 29th. The software maker reported $0.83 EPS for the quarter, beating the consensus estimate of $0.76 by $0.07. The business had revenue of $233.28 million during the quarter, compared to the consensus estimate of $220.76 million. Commvault Systems had a return on equity of 31.62% and a net margin of 19.75%. Commvault Systems’s revenue was up 16.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.30 earnings per share. As a group, sell-side analysts expect that Commvault Systems, Inc. will post 1.66 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Gary Merrill sold 1,523 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $164.89, for a total value of $251,127.47. Following the completion of the sale, the insider now directly owns 93,007 shares of the company’s stock, valued at approximately $15,335,924.23. This represents a 1.61 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Allison Pickens sold 1,232 shares of the stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $172.50, for a total value of $212,520.00. Following the completion of the sale, the director now directly owns 5,899 shares of the company’s stock, valued at approximately $1,017,577.50. This represents a 17.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,530 shares of company stock valued at $2,244,755. Corporate insiders own 1.00% of the company’s stock.

Commvault Systems 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.