Kesler Norman & Wride LLC Invests $613,000 in Commvault Systems, Inc. (NASDAQ:CVLT)

Kesler Norman & Wride LLC acquired a new position in shares of Commvault Systems, Inc. (NASDAQ:CVLT) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 3,980 shares of the software maker’s stock, valued at approximately $613,000.

Several other hedge funds have also made changes to their positions in CVLT. Champlain Investment Partners LLC boosted its holdings in Commvault Systems by 58.5% in the first quarter. Champlain Investment Partners LLC now owns 825,236 shares of the software maker’s stock valued at $83,704,000 after acquiring an additional 304,459 shares during the last quarter. Acadian Asset Management LLC boosted its holdings 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 acquiring an additional 223,347 shares during the last quarter. AQR Capital Management LLC boosted its holdings in Commvault Systems by 33.5% in the second quarter. AQR Capital Management LLC now owns 648,858 shares of the software maker’s stock valued at $78,882,000 after acquiring an additional 162,722 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Commvault Systems by 7.5% in the second quarter. Renaissance Technologies LLC now owns 1,813,487 shares of the software maker’s stock valued at $220,466,000 after acquiring an additional 126,800 shares during the last quarter. Finally, M&G Plc acquired a new position in Commvault Systems in the second quarter valued at $10,265,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Commvault Systems Stock Performance

NASDAQ:CVLT opened at $159.51 on Wednesday. Commvault Systems, Inc. has a one year low of $63.70 and a one year high of $162.38. The business’s 50-day simple moving average is $149.47 and its 200 day simple moving average is $124.69. The stock has a market cap of $6.98 billion, a price-to-earnings ratio of 42.42 and a beta of 0.60.

Commvault Systems (NASDAQ:CVLT) last released its quarterly earnings results on Tuesday, July 30th. The software maker reported $0.85 EPS for the quarter, topping 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 business had revenue of $224.67 million for the quarter, compared to analysts’ expectations of $215.54 million. During the same quarter in the previous year, the firm posted $0.29 earnings per share. The company’s revenue was up 13.4% compared to the same quarter last year. On average, equities research analysts predict that Commvault Systems, Inc. will post 1.66 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Piper Sandler lifted their target price on Commvault Systems from $107.00 to $123.00 and gave the company a “neutral” rating in a report on Monday, July 15th. Guggenheim reiterated a “buy” rating and issued a $122.00 target price on shares of Commvault Systems in a report on Tuesday, June 25th. Royal Bank of Canada boosted their price objective on Commvault Systems from $121.00 to $152.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 31st. DA Davidson boosted their price objective on Commvault Systems from $170.00 to $175.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Finally, KeyCorp boosted their price objective on Commvault Systems from $140.00 to $170.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $140.00.

Insider Buying and Selling

In related news, Director Allison Pickens sold 1,232 shares of the business’s stock in a transaction dated 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 sale, the director now directly owns 7,131 shares of the company’s stock, valued at $1,097,389.59. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Allison Pickens sold 1,232 shares of the business’s stock in a transaction dated 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 sale, the director now directly owns 7,131 shares of the company’s stock, valued at $1,097,389.59. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Gary Merrill sold 17,388 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $150.76, for a total value of $2,621,414.88. Following the completion of the sale, the insider now directly owns 94,530 shares of the company’s stock, valued at approximately $14,251,342.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

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.