Fred Alger Management LLC Invests $631,000 in Commvault Systems, Inc. (NASDAQ:CVLT)

Fred Alger Management LLC bought a new stake in shares of Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 4,181 shares of the software maker's stock, valued at approximately $631,000.

Several other hedge funds have also recently made changes to their positions in the business. Deutsche Bank AG grew its position in shares of Commvault Systems by 81.0% in the 4th quarter. Deutsche Bank AG now owns 79,380 shares of the software maker's stock worth $11,979,000 after buying an additional 35,514 shares during the period. Driehaus Capital Management LLC lifted its holdings in shares of Commvault Systems by 20.8% during the fourth quarter. Driehaus Capital Management LLC now owns 512,251 shares of the software maker's stock valued at $77,304,000 after purchasing an additional 88,232 shares in the last quarter. Cetera Investment Advisers lifted its holdings in shares of Commvault Systems by 11.6% during the fourth quarter. Cetera Investment Advisers now owns 1,716 shares of the software maker's stock valued at $259,000 after purchasing an additional 179 shares in the last quarter. Bosun Asset Management LLC lifted its holdings in shares of Commvault Systems by 39.8% during the fourth quarter. Bosun Asset Management LLC now owns 7,583 shares of the software maker's stock valued at $1,144,000 after purchasing an additional 2,160 shares in the last quarter. Finally, Benjamin Edwards Inc. lifted its holdings in shares of Commvault Systems by 3.3% during the fourth quarter. Benjamin Edwards Inc. now owns 1,803 shares of the software maker's stock valued at $272,000 after purchasing an additional 58 shares in the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Commvault Systems Price Performance

CVLT stock traded down $4.36 during mid-day trading on Friday, reaching $177.69. 228,579 shares of the company's stock were exchanged, compared to its average volume of 417,554. The stock's 50 day moving average is $160.81 and its 200 day moving average is $164.32. Commvault Systems, Inc. has a 12-month low of $105.76 and a 12-month high of $190.11. The company has a market cap of $7.84 billion, a price-to-earnings ratio of 46.61 and a beta of 0.71.

Commvault Systems (NASDAQ:CVLT - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The software maker reported $1.03 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 the consensus estimate of $262.52 million. During the same quarter last year, the business posted $0.79 earnings per share. The firm's revenue was up 23.2% compared to the same quarter last year. On average, research analysts forecast that Commvault Systems, Inc. will post 1.65 earnings per share for the current fiscal year.

Analyst Ratings Changes

CVLT has been the topic of a number of recent research reports. William Blair raised Commvault Systems from a "market perform" rating to an "outperform" rating in a report on Thursday, January 30th. Cantor Fitzgerald increased their target price on Commvault Systems from $159.00 to $173.00 and gave the company a "neutral" rating in a report on Wednesday, January 29th. StockNews.com raised Commvault Systems from a "hold" rating to a "buy" rating in a report on Thursday, May 1st. Guggenheim reissued a "neutral" rating on shares of Commvault Systems in a report on Wednesday, April 23rd. Finally, DA Davidson increased their target price on Commvault Systems from $185.00 to $200.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, Commvault Systems has an average rating of "Moderate Buy" and a consensus price target of $175.25.

Insider Activity

In other news, CEO Sanjay Mirchandani sold 12,318 shares of the company's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $185.96, for a total transaction of $2,290,655.28. Following the completion of the transaction, the chief executive officer now directly owns 427,231 shares of the company's stock, valued at approximately $79,447,876.76. This represents a 2.80% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Nicola Adamo sold 1,500 shares of the company's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $169.74, for a total value of $254,610.00. Following the completion of the sale, the director now directly owns 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,105 shares of company stock valued at $3,159,737. 1.00% of the stock is currently owned by corporate insiders.

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.