Wedge Capital Management L L P NC Increases Position in Commvault Systems, Inc. (NASDAQ:CVLT)

by · The Cerbat Gem

Wedge Capital Management L L P NC increased its position in shares of Commvault Systems, Inc. (NASDAQ:CVLT – Free Report) by 5.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 18,811 shares of the software maker’s stock after acquiring an additional 989 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Commvault Systems were worth $2,894,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CVLT. Champlain Investment Partners LLC boosted its holdings in shares of Commvault Systems by 58.5% during the first quarter. Champlain Investment Partners LLC now owns 825,236 shares of the software maker’s stock worth $83,704,000 after purchasing an additional 304,459 shares during the last quarter. Acadian Asset Management LLC increased its stake in Commvault Systems by 16.3% in the first quarter. Acadian Asset Management LLC now owns 1,596,635 shares of the software maker’s stock valued at $161,914,000 after purchasing an additional 223,347 shares during the last quarter. AQR Capital Management LLC lifted its position in Commvault Systems by 33.5% during the second quarter. AQR Capital Management LLC now owns 648,858 shares of the software maker’s stock worth $78,882,000 after buying an additional 162,722 shares during the period. Renaissance Technologies LLC boosted its stake in Commvault Systems by 7.5% in the 2nd quarter. Renaissance Technologies LLC now owns 1,813,487 shares of the software maker’s stock worth $220,466,000 after buying an additional 126,800 shares during the last quarter. Finally, M&G Plc purchased a new stake in Commvault Systems in the 2nd quarter valued at about $10,265,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Commvault Systems news, Director Allison Pickens sold 1,232 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $153.89, for a total value of $189,592.48. Following the completion of the transaction, the director now owns 7,131 shares in the company, valued at $1,097,389.59. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Allison Pickens sold 1,232 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $153.89, for a total transaction of $189,592.48. Following the transaction, the director now directly owns 7,131 shares of the company’s stock, valued at approximately $1,097,389.59. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Gary Merrill sold 17,388 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $150.76, for a total transaction of $2,621,414.88. Following the completion of the transaction, the insider now owns 94,530 shares of the company’s stock, valued at $14,251,342.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CVLT. DA Davidson increased their price objective on shares of Commvault Systems from $170.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Piper Sandler lifted their price target on shares of Commvault Systems from $107.00 to $123.00 and gave the company a “neutral” rating in a report on Monday, July 15th. KeyCorp boosted their price objective on shares of Commvault Systems from $140.00 to $170.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. StockNews.com downgraded Commvault Systems from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 31st. Finally, Royal Bank of Canada lifted their target price on Commvault Systems from $121.00 to $152.00 and gave the company a “sector perform” rating in a report on Wednesday, July 31st. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $140.00.

Check Out Our Latest Research Report on CVLT

Commvault Systems Trading Down 9.8 %

NASDAQ:CVLT opened at $147.84 on Wednesday. The firm’s fifty day simple moving average is $151.10 and its 200 day simple moving average is $126.75. Commvault Systems, Inc. has a twelve month low of $63.70 and a twelve month high of $165.73. The firm has a market capitalization of $6.47 billion, a price-to-earnings ratio of 39.32 and a beta of 0.60.

Commvault Systems (NASDAQ:CVLT – Get Free Report) last released its quarterly earnings data on Tuesday, July 30th. The software maker reported $0.85 EPS for the quarter, beating the consensus estimate of $0.73 by $0.12. Commvault Systems had a return on equity of 32.16% and a net margin of 20.19%. The company had revenue of $224.67 million for the quarter, compared to analyst estimates of $215.54 million. During the same period last year, the company posted $0.29 earnings per share. The firm’s revenue was up 13.4% compared to the same quarter last year. On average, analysts predict that Commvault Systems, Inc. will post 1.66 earnings per share for the current year.

Commvault Systems Profile

(Free Report)

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.

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