Point72 Asset Management L.P. Acquires 6,400 Shares of Commvault Systems, Inc. (NASDAQ:CVLT)

Point72 Asset Management L.P. lifted its position in Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 278.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,700 shares of the software maker's stock after purchasing an additional 6,400 shares during the quarter. Point72 Asset Management L.P.'s holdings in Commvault Systems were worth $1,313,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of CVLT. Polar Capital Holdings Plc grew its position in Commvault Systems by 182.5% in the fourth quarter. Polar Capital Holdings Plc now owns 362,958 shares of the software maker's stock valued at $54,774,000 after acquiring an additional 234,477 shares during the period. ProShare Advisors LLC grew its position in Commvault Systems by 31.9% in the fourth quarter. ProShare Advisors LLC now owns 16,278 shares of the software maker's stock valued at $2,457,000 after acquiring an additional 3,940 shares during the period. Quantinno Capital Management LP grew its position in Commvault Systems by 1.2% in the fourth quarter. Quantinno Capital Management LP now owns 32,469 shares of the software maker's stock valued at $4,900,000 after acquiring an additional 388 shares during the period. Man Group plc grew its position in Commvault Systems by 6.6% in the fourth quarter. Man Group plc now owns 161,781 shares of the software maker's stock valued at $24,414,000 after acquiring an additional 9,996 shares during the period. Finally, Nomura Holdings Inc. bought a new stake in Commvault Systems in the fourth quarter valued at $874,000. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Nicola Adamo sold 1,500 shares of Commvault Systems stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $169.74, for a total transaction of $254,610.00. Following the transaction, the director now owns 16,178 shares in the company, valued at $2,746,053.72. The trade was a 8.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.00% of the company's stock.

Commvault Systems Stock Performance

CVLT traded up $3.69 during midday trading on Tuesday, reaching $178.12. 112,472 shares of the company were exchanged, compared to its average volume of 479,673. Commvault Systems, Inc. has a one year low of $105.76 and a one year high of $190.11. The stock has a market capitalization of $7.86 billion, a P/E ratio of 46.75 and a beta of 0.71. The stock's 50-day simple moving average is $163.50 and its 200 day simple moving average is $164.93.

Commvault Systems (NASDAQ:CVLT - Get Free Report) last issued its earnings results on Tuesday, April 29th. The software maker reported $1.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.93 by $0.10. Commvault Systems had a return on equity of 28.69% and a net margin of 18.14%. The firm had revenue of $275.04 million for the quarter, compared to analysts' expectations of $262.52 million. During the same quarter last year, the business earned $0.79 earnings per share. The company's revenue was up 23.2% compared to the same quarter last year. On average, research analysts anticipate that Commvault Systems, Inc. will post 1.65 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CVLT. 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. Guggenheim restated a "neutral" rating on shares of Commvault Systems in a report on Wednesday, April 23rd. KeyCorp decreased their target price on Commvault Systems from $195.00 to $185.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. DA Davidson increased their target price on Commvault Systems from $185.00 to $200.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Finally, Royal Bank of Canada raised their price target on Commvault Systems from $175.00 to $185.00 and gave the company a "sector perform" rating in a report on Wednesday, April 30th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Commvault Systems has a consensus rating of "Moderate Buy" and a consensus target price of $175.25.

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.