Wealth Enhancement Advisory Services LLC Boosts Stock Position in Commvault Systems, Inc. (NASDAQ:CVLT)

Wealth Enhancement Advisory Services LLC lifted its position in Commvault Systems, Inc. (NASDAQ:CVLT) by 53.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,226 shares of the software maker’s stock after purchasing an additional 1,126 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Commvault Systems were worth $496,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of CVLT. Mirae Asset Global Investments Co. Ltd. lifted its stake in Commvault Systems by 7.8% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,379 shares of the software maker’s stock valued at $2,168,000 after acquiring an additional 1,540 shares during the period. Daiwa Securities Group Inc. lifted its position in Commvault Systems by 700.0% during the first quarter. Daiwa Securities Group Inc. now owns 800 shares of the software maker’s stock valued at $81,000 after purchasing an additional 700 shares during the period. Texas Permanent School Fund Corp boosted its holdings in Commvault Systems by 1.0% in the first quarter. Texas Permanent School Fund Corp now owns 38,213 shares of the software maker’s stock valued at $3,876,000 after purchasing an additional 383 shares during the last quarter. Swiss National Bank raised its stake in shares of Commvault Systems by 5.1% during the 1st quarter. Swiss National Bank now owns 86,400 shares of the software maker’s stock valued at $8,764,000 after buying an additional 4,200 shares during the last quarter. Finally, Sei Investments Co. lifted its holdings in shares of Commvault Systems by 0.4% in the 1st quarter. Sei Investments Co. now owns 89,427 shares of the software maker’s stock valued at $9,071,000 after buying an additional 323 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

Analyst Ratings Changes

CVLT has been the topic of several analyst reports. StockNews.com lowered Commvault Systems from a “strong-buy” rating to a “buy” rating in a report on Friday, November 1st. DA Davidson lifted their target price on shares of Commvault Systems from $170.00 to $175.00 and gave the company a “buy” rating in a report on Friday, September 6th. Royal Bank of Canada increased their price target on shares of Commvault Systems from $164.00 to $182.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 30th. Piper Sandler lifted their price objective 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. Finally, Guggenheim lowered shares of Commvault Systems from a “buy” rating to a “neutral” rating in a research note on Tuesday, October 15th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Commvault Systems currently has an average rating of “Moderate Buy” and a consensus target price of $144.29.

Commvault Systems Stock Down 0.0 %

CVLT stock opened at $171.57 on Friday. The stock has a market capitalization of $7.50 billion, a P/E ratio of 43.44 and a beta of 0.59. Commvault Systems, Inc. has a 52 week low of $68.02 and a 52 week high of $173.01. The firm has a 50-day simple moving average of $151.33 and a 200-day simple moving average of $133.05.

Commvault Systems (NASDAQ:CVLT) last announced its earnings results on Tuesday, October 29th. The software maker reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.07. The business had revenue of $233.28 million during the quarter, compared to analysts’ expectations of $220.76 million. Commvault Systems had a return on equity of 31.62% and a net margin of 19.75%. The business’s revenue was up 16.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.30 earnings per share. On average, analysts expect that Commvault Systems, Inc. will post 1.62 earnings per share for the current year.

Insider Buying and Selling

In other Commvault Systems news, Director Allison Pickens sold 1,232 shares of the stock in a transaction dated Friday, August 30th. The shares were 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 owns 7,131 shares in the company, valued at approximately $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 accessible through the SEC website. In related news, insider Gary Merrill sold 17,388 shares of the company’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 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 sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Allison Pickens sold 1,232 shares of Commvault Systems stock in a transaction dated Friday, August 30th. The stock was 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 in the company, valued at $1,097,389.59. 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 company 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.