Fred Alger Management LLC Takes Position in Commvault Systems, Inc. (NASDAQ:CVLT)

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

Several other large investors have also bought and sold shares of CVLT. Quarry LP raised its holdings in shares of Commvault Systems by 888.2% during the fourth quarter. Quarry LP now owns 168 shares of the software maker's stock valued at $25,000 after purchasing an additional 151 shares during the last quarter. TFC Financial Management Inc. grew its position in Commvault Systems by 294.1% during the fourth quarter. TFC Financial Management Inc. now owns 402 shares of the software maker's stock valued at $61,000 after buying an additional 300 shares during the period. GeoWealth Management LLC bought a new position in shares of Commvault Systems in the fourth quarter worth approximately $101,000. Blue Trust Inc. boosted its position in shares of Commvault Systems by 37,400.0% in the fourth quarter. Blue Trust Inc. now owns 750 shares of the software maker's stock worth $113,000 after purchasing an additional 748 shares during the period. Finally, Meeder Asset Management Inc. bought a new position in shares of Commvault Systems in the fourth quarter worth approximately $127,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Commvault Systems Stock Down 0.9%

Commvault Systems stock traded down $1.62 during mid-day trading on Wednesday, reaching $179.71. 495,522 shares of the company's stock traded hands, compared to its average volume of 417,634. The company has a market cap of $7.93 billion, a price-to-earnings ratio of 47.17 and a beta of 0.71. The stock has a 50 day moving average of $159.63 and a two-hundred day moving average of $163.90. Commvault Systems, Inc. has a 12-month low of $105.76 and a 12-month high of $190.11.

Commvault Systems (NASDAQ:CVLT - Get Free Report) last announced its 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. Commvault Systems had a net margin of 18.14% and a return on equity of 28.69%. The business had revenue of $275.04 million for the quarter, compared to the consensus estimate of $262.52 million. During the same quarter in the prior year, the firm posted $0.79 earnings per share. The business's revenue for the quarter was up 23.2% on a year-over-year basis. As a group, sell-side analysts forecast that Commvault Systems, Inc. will post 1.65 earnings per share for the current year.

Insider Activity

In other Commvault Systems news, Director Nicola Adamo sold 1,500 shares of the stock in a transaction dated 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 now directly owns 16,178 shares in the company, valued at $2,746,053.72. This represents a 8.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Gary Merrill sold 3,287 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $186.94, for a total transaction of $614,471.78. Following the transaction, the insider now owns 87,316 shares in the company, valued at approximately $16,322,853.04. The trade was a 3.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 17,105 shares of company stock valued at $3,159,737. 1.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on CVLT. Guggenheim reissued a "neutral" rating on shares of Commvault Systems in a report on Wednesday, April 23rd. William Blair raised shares of Commvault Systems from a "market perform" rating to an "outperform" rating in a report on Thursday, January 30th. KeyCorp lowered their target price on shares of Commvault Systems from $195.00 to $185.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Oppenheimer boosted their target price on shares of Commvault Systems from $180.00 to $200.00 and gave the stock an "outperform" rating in a report on Wednesday, April 30th. Finally, Cantor Fitzgerald boosted their target price on shares of Commvault Systems from $159.00 to $173.00 and gave the stock a "neutral" rating in a report on Wednesday, January 29th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $175.25.

Commvault Systems 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.