Occudo Quantitative Strategies LP Makes New $669,000 Investment in Commvault Systems, Inc. (NASDAQ:CVLT)

Occudo Quantitative Strategies LP purchased a new stake in Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,432 shares of the software maker's stock, valued at approximately $669,000.

Several other hedge funds have also added to or reduced their stakes in the business. Quarry LP increased its holdings in shares of Commvault Systems by 888.2% in 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. boosted its holdings in shares of Commvault Systems by 294.1% during the 4th quarter. TFC Financial Management Inc. now owns 402 shares of the software maker's stock worth $61,000 after buying an additional 300 shares during the period. GeoWealth Management LLC acquired a new position in Commvault Systems in the 4th quarter valued at about $101,000. Blue Trust Inc. raised its holdings in Commvault Systems by 37,400.0% in the 4th quarter. Blue Trust Inc. now owns 750 shares of the software maker's stock valued at $113,000 after acquiring an additional 748 shares during the period. Finally, Meeder Asset Management Inc. acquired a new stake in Commvault Systems during the fourth quarter worth approximately $127,000. Institutional investors and hedge funds own 93.50% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on CVLT shares. Oppenheimer upped their target price on Commvault Systems from $180.00 to $200.00 and gave the company an "outperform" rating in a research report on Wednesday, April 30th. Cantor Fitzgerald boosted their price target on Commvault Systems from $159.00 to $173.00 and gave the company a "neutral" rating in a research note on Wednesday, January 29th. Wells Fargo & Company increased their price objective on Commvault Systems from $180.00 to $190.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 30th. DA Davidson lifted 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, Guggenheim reissued a "neutral" rating on shares of Commvault Systems in a research report on Wednesday, April 23rd. Four equities research 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 a consensus price target of $175.25.

Insider Buying and Selling at Commvault Systems

In related news, insider Gary Merrill sold 3,287 shares of the company's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $186.94, for a total transaction of $614,471.78. Following the completion of the sale, the insider now directly owns 87,316 shares in the company, valued at $16,322,853.04. This represents a 3.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Sanjay Mirchandani sold 12,318 shares of Commvault Systems stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $185.96, for a total value of $2,290,655.28. Following the completion of the transaction, the chief executive officer now owns 427,231 shares in the company, valued at approximately $79,447,876.76. This represents a 2.80% decrease in their position. The disclosure for this sale can be found here. In 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 corporate insiders.

Commvault Systems Stock Performance

Shares of NASDAQ CVLT traded down $4.00 during mid-day trading on Friday, reaching $178.04. The company had a trading volume of 442,238 shares, compared to its average volume of 418,593. The firm has a market cap of $7.86 billion, a price-to-earnings ratio of 46.73 and a beta of 0.71. The business's 50-day simple moving average is $161.33 and its 200 day simple moving average is $164.39. Commvault Systems, Inc. has a one year low of $105.76 and a one year high of $190.11.

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

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.