Alliancebernstein L.P. Buys 210,057 Shares of Commvault Systems, Inc. (NASDAQ:CVLT)

Alliancebernstein L.P. increased its stake in Commvault Systems, Inc. (NASDAQ:CVLT) by 11.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,083,367 shares of the software maker’s stock after purchasing an additional 210,057 shares during the quarter. Alliancebernstein L.P. owned approximately 4.58% of Commvault Systems worth $156,898,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. Geode Capital Management LLC raised its holdings in Commvault Systems by 1.9% during the 2nd quarter. Geode Capital Management LLC now owns 863,643 shares of the software maker’s stock valued at $67,510,000 after acquiring an additional 15,806 shares during the period. Northern Trust Corp raised its holdings in Commvault Systems by 3.8% during the 2nd quarter. Northern Trust Corp now owns 696,510 shares of the software maker’s stock valued at $54,447,000 after acquiring an additional 25,222 shares during the period. Dimensional Fund Advisors LP raised its holdings in Commvault Systems by 3.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 638,787 shares of the software maker’s stock valued at $49,935,000 after acquiring an additional 22,936 shares during the period. Lord Abbett & CO. LLC bought a new stake in Commvault Systems during the 3rd quarter valued at $47,086,000. Finally, Federated Hermes Inc. raised its holdings in Commvault Systems by 18.0% during the 2nd quarter. Federated Hermes Inc. now owns 612,910 shares of the software maker’s stock valued at $47,911,000 after acquiring an additional 93,582 shares during the period. 93.86% of the stock is currently owned by institutional investors.

A number of equities research analysts have issued reports on CVLT shares. Royal Bank of Canada lowered their target price on shares of Commvault Systems from $75.00 to $66.00 and set a “sector perform” rating on the stock in a report on Wednesday, October 27th. KeyCorp decreased their price target on shares of Commvault Systems from $90.00 to $80.00 and set an “overweight” rating on the stock in a report on Wednesday, October 27th. Lake Street Capital cut shares of Commvault Systems from a “buy” rating to a “hold” rating and set a $64.00 price target on the stock. in a report on Wednesday, October 27th. Needham & Company LLC decreased their price target on shares of Commvault Systems from $95.00 to $85.00 and set a “buy” rating on the stock in a report on Wednesday, October 27th. Finally, Zacks Investment Research raised shares of Commvault Systems from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 28th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Commvault Systems presently has an average rating of “Buy” and an average target price of $78.75.

Shares of NASDAQ:CVLT opened at $69.68 on Friday. Commvault Systems, Inc. has a 52-week low of $56.53 and a 52-week high of $84.22. The firm has a fifty day moving average of $66.66 and a 200 day moving average of $72.72. The firm has a market capitalization of $3.17 billion, a PE ratio of 142.21, a price-to-earnings-growth ratio of 8.72 and a beta of 0.61.

Commvault Systems (NASDAQ:CVLT) last announced its earnings results on Monday, October 25th. The software maker reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.09). Commvault Systems had a return on equity of 11.78% and a net margin of 3.18%. The company had revenue of $177.80 million during the quarter, compared to analysts’ expectations of $184.79 million. During the same quarter last year, the firm posted $0.02 earnings per share. The firm’s revenue was up 3.9% on a year-over-year basis. Equities analysts predict that Commvault Systems, Inc. will post 0.79 earnings per share for the current fiscal year.

Commvault Systems Company Profile

Commvault Systems, Inc engages in the provision of data protection and information management software applications and related services. It products category include Data Protection, Data insights, Storage, and Metallic BaaS. The firm also offers professional, managed, support, and training services.

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Institutional Ownership by Quarter for Commvault Systems (NASDAQ:CVLT)

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