Oak Ridge Investments LLC Purchases Shares of 16,969 Commvault Systems, Inc. (NASDAQ:CVLT)

Oak Ridge Investments LLC acquired a new position in shares of Commvault Systems, Inc. (NASDAQ:CVLT) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 16,969 shares of the software maker’s stock, valued at approximately $2,561,000.

A number of other large investors have also made changes to their positions in the stock. Charles Schwab Investment Management Inc. increased its stake in Commvault Systems by 25.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 586,795 shares of the software maker’s stock valued at $90,278,000 after acquiring an additional 120,779 shares during the period. Intech Investment Management LLC acquired a new stake in shares of Commvault Systems during the 2nd quarter worth approximately $2,221,000. Summit Partners Public Asset Management LLC bought a new stake in shares of Commvault Systems during the third quarter valued at approximately $67,722,000. Vontobel Holding Ltd. acquired a new position in shares of Commvault Systems in the third quarter valued at $1,126,000. Finally, Point72 Hong Kong Ltd lifted its position in 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 during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

Commvault Systems Stock Performance

Shares of CVLT stock opened at $161.28 on Friday. The stock’s fifty day moving average is $164.92 and its 200-day moving average is $151.89. Commvault Systems, Inc. has a 52 week low of $77.56 and a 52 week high of $178.72. The stock has a market capitalization of $7.05 billion, a PE ratio of 40.83 and a beta of 0.65.

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

Insider Buying and Selling

In related news, CEO Sanjay Mirchandani sold 10,775 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $165.30, for a total transaction of $1,781,107.50. Following the completion of the sale, the chief executive officer now directly owns 459,969 shares of the company’s stock, valued at $76,032,875.70. The trade was a 2.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Gary Merrill sold 1,523 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $164.89, for a total transaction of $251,127.47. Following the completion of the transaction, the insider now directly owns 93,007 shares in the company, valued at approximately $15,335,924.23. The trade was a 1.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 13,530 shares of company stock worth $2,244,755 in the last quarter. Insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CVLT. Cantor Fitzgerald started coverage on shares of Commvault Systems in a research note on Friday. They issued a “neutral” rating and a $159.00 price objective for the company. KeyCorp began coverage on shares of Commvault Systems in a research note on Thursday. They set an “overweight” rating and a $192.00 price target for the company. Royal Bank of Canada upped their price objective 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. Oppenheimer initiated coverage on Commvault Systems in a research report on Wednesday, November 13th. They set an “outperform” rating and a $200.00 target price for the company. Finally, StockNews.com cut Commvault Systems from a “strong-buy” rating to a “buy” rating in a research report on Thursday. Five investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $154.56.

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.