Voleon Capital Management LP Makes New $873,000 Investment in Commvault Systems, Inc. (NASDAQ:CVLT)

Voleon Capital Management LP purchased a new stake in Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 5,787 shares of the software maker's stock, valued at approximately $873,000.

A number of other hedge funds have also modified their holdings of CVLT. Virtu Financial LLC raised its holdings in Commvault Systems by 63.9% in the fourth quarter. Virtu Financial LLC now owns 8,243 shares of the software maker's stock worth $1,244,000 after purchasing an additional 3,214 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in Commvault Systems by 0.8% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 632,870 shares of the software maker's stock worth $95,506,000 after buying an additional 4,957 shares during the period. Banco Santander S.A. bought a new position in Commvault Systems during the fourth quarter worth about $833,000. New Age Alpha Advisors LLC acquired a new position in Commvault Systems in the fourth quarter valued at about $1,387,000. Finally, Oppenheimer & Co. Inc. bought a new stake in shares of Commvault Systems in the fourth quarter worth about $367,000. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Commvault Systems Trading Down 0.7 %

Shares of CVLT stock opened at $166.02 on Friday. The firm's fifty day moving average price is $158.41 and its two-hundred day moving average price is $161.77. Commvault Systems, Inc. has a 1 year low of $102.73 and a 1 year high of $190.11. The firm has a market capitalization of $7.30 billion, a P/E ratio of 43.57 and a beta of 0.68.

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

Analysts Set New Price Targets

Several research firms have recently weighed in on CVLT. Guggenheim reiterated a "neutral" rating on shares of Commvault Systems in a report on Wednesday, April 23rd. Royal Bank of Canada upped their price target on shares of Commvault Systems from $175.00 to $185.00 and gave the company a "sector perform" rating in a report on Wednesday. StockNews.com raised shares of Commvault Systems from a "hold" rating to a "buy" rating in a research report on Thursday. Oppenheimer boosted their price objective on shares of Commvault Systems from $180.00 to $200.00 and gave the company an "outperform" rating in a research report on Wednesday. Finally, 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. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $175.25.

Insider Activity

In other Commvault Systems news, CEO Sanjay Mirchandani sold 12,318 shares of the business's stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 427,231 shares of the company's stock, valued at $79,447,876.76. The trade was a 2.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Gary Merrill sold 3,287 shares of the firm's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $186.94, for a total value of $614,471.78. Following the completion of the sale, the insider now directly owns 87,316 shares of the company's stock, 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. 1.00% of the stock is currently owned by insiders.

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.

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