Cerity Partners LLC Purchases 3,071 Shares of CommVault Systems, Inc. (NASDAQ:CVLT)

Cerity Partners LLC raised its holdings in shares of CommVault Systems, Inc. (NASDAQ:CVLT - Free Report) by 108.8% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 5,893 shares of the software maker's stock after acquiring an additional 3,071 shares during the period. Cerity Partners LLC's holdings in CommVault Systems were worth $930,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of CommVault Systems by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 5,636,559 shares of the software maker's stock valued at $850,613,000 after buying an additional 54,562 shares in the last quarter. Renaissance Technologies LLC increased its holdings in CommVault Systems by 1.3% during the 4th quarter. Renaissance Technologies LLC now owns 1,909,185 shares of the software maker's stock worth $288,115,000 after purchasing an additional 24,900 shares in the last quarter. Invesco Ltd. increased its holdings in CommVault Systems by 57.7% during the 4th quarter. Invesco Ltd. now owns 1,660,108 shares of the software maker's stock worth $250,527,000 after purchasing an additional 607,643 shares in the last quarter. Geode Capital Management LLC increased its holdings in CommVault Systems by 3.5% during the 4th quarter. Geode Capital Management LLC now owns 1,288,068 shares of the software maker's stock worth $194,681,000 after purchasing an additional 43,088 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in CommVault Systems by 9.8% during the 4th quarter. Northern Trust Corp now owns 651,973 shares of the software maker's stock worth $98,389,000 after purchasing an additional 58,239 shares in the last quarter. Institutional investors own 93.50% of the company's stock.

Analysts Set New Price Targets

A number of research firms have issued reports on CVLT. Guggenheim upgraded CommVault Systems from a "neutral" rating to a "buy" rating and set a $210.00 target price for the company in a report on Wednesday, July 16th. Wells Fargo & Company increased their target price on CommVault Systems from $180.00 to $190.00 and gave the stock an "overweight" rating in a report on Wednesday, April 30th. Oppenheimer increased their price objective on shares of CommVault Systems from $180.00 to $200.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 30th. Wall Street Zen upgraded shares of CommVault Systems from a "hold" rating to a "buy" rating in a research note on Thursday, May 1st. Finally, Royal Bank Of Canada increased their price objective on shares of CommVault Systems from $175.00 to $185.00 and gave the stock a "sector perform" rating in a research note on Wednesday, April 30th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $189.13.

CommVault Systems Price Performance

CommVault Systems stock traded down $1.62 during trading hours on Friday, hitting $164.35. The company had a trading volume of 463,502 shares, compared to its average volume of 386,145. The firm has a market cap of $7.32 billion, a PE ratio of 97.25 and a beta of 0.73. CommVault Systems, Inc. has a one year low of $121.78 and a one year high of $192.01. The firm has a 50-day moving average of $176.26 and a 200 day moving average of $168.04.

CommVault Systems (NASDAQ:CVLT - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The software maker reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.10. The firm had revenue of $275.04 million for the quarter, compared to analysts' expectations of $262.52 million. CommVault Systems had a net margin of 7.64% and a return on equity of 32.31%. The business's revenue was up 23.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.79 EPS. As a group, research analysts expect that CommVault Systems, Inc. will post 1.65 earnings per share for the current year.

Insider Transactions at CommVault Systems

In other news, Director Nicola Adamo sold 1,500 shares of the firm's stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $169.74, for a total transaction of $254,610.00. Following the transaction, the director directly owned 16,178 shares of the company's stock, valued at approximately $2,746,053.72. This trade represents a 8.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Gary Merrill sold 1,748 shares of the firm's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $174.91, for a total transaction of $305,742.68. Following the transaction, the insider directly owned 89,923 shares in the company, valued at $15,728,431.93. This represents a 1.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,957 shares of company stock valued at $859,428. 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.