National Wealth Management Group LLC Buys Shares of 2,443 Commvault Systems, Inc. (NASDAQ:CVLT)

National Wealth Management Group LLC purchased a new position in shares of Commvault Systems, Inc. (NASDAQ:CVLT) in the third quarter, Holdings Channel.com reports. The firm purchased 2,443 shares of the software maker’s stock, valued at approximately $376,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. National Bank of Canada FI acquired a new position in Commvault Systems in the second quarter worth approximately $30,000. Capital Performance Advisors LLP acquired a new position in shares of Commvault Systems during the 3rd quarter worth $33,000. Hexagon Capital Partners LLC raised its holdings in shares of Commvault Systems by 124.8% during the 2nd quarter. Hexagon Capital Partners LLC now owns 353 shares of the software maker’s stock valued at $43,000 after purchasing an additional 196 shares in the last quarter. Signaturefd LLC lifted its stake in shares of Commvault Systems by 70.8% in the 2nd quarter. Signaturefd LLC now owns 410 shares of the software maker’s stock valued at $50,000 after purchasing an additional 170 shares during the last quarter. Finally, Strategic Financial Concepts LLC bought a new stake in Commvault Systems in the second quarter worth $56,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Commvault Systems

In other news, Director Allison Pickens sold 1,232 shares of the stock in a transaction on Friday, August 30th. The shares were sold at an average price of $153.89, for a total value of $189,592.48. Following the completion of the transaction, the director now owns 7,131 shares in the company, valued at approximately $1,097,389.59. This represents a 14.73 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Gary Merrill sold 1,523 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $164.89, for a total transaction of $251,127.47. Following the transaction, the insider now directly owns 93,007 shares of the company’s stock, valued at $15,335,924.23. The trade was a 1.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,530 shares of company stock worth $2,221,827. 1.00% of the stock is owned by corporate insiders.

Commvault Systems Stock Performance

NASDAQ:CVLT opened at $171.63 on Thursday. The firm’s 50-day moving average is $157.72 and its 200-day moving average is $139.43. The company has a market cap of $7.51 billion, a price-to-earnings ratio of 43.45 and a beta of 0.59. Commvault Systems, Inc. has a 52-week low of $72.20 and a 52-week high of $178.72.

Commvault Systems (NASDAQ:CVLT) last issued its quarterly earnings results on Tuesday, October 29th. The software maker reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.07. Commvault Systems had a return on equity of 31.62% and a net margin of 19.75%. The firm had revenue of $233.28 million for the quarter, compared to analyst estimates of $220.76 million. During the same period in the previous year, the company posted $0.30 earnings per share. The company’s quarterly revenue was up 16.1% compared to the same quarter last year. Equities analysts predict that Commvault Systems, Inc. will post 1.66 EPS for the current year.

Analyst Ratings Changes

Several research firms have weighed in on CVLT. Oppenheimer initiated coverage on Commvault Systems in a report on Wednesday, November 13th. They set an “outperform” rating and a $200.00 target price on the stock. StockNews.com lowered Commvault Systems from a “strong-buy” rating to a “buy” rating in a report on Friday, November 1st. Guggenheim downgraded Commvault Systems from a “buy” rating to a “neutral” rating in a report on Tuesday, October 15th. KeyCorp boosted their price objective on shares of Commvault Systems from $140.00 to $170.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Finally, Royal Bank of Canada lifted their target price on shares of Commvault Systems from $164.00 to $182.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Commvault Systems has an average rating of “Moderate Buy” and a consensus price target of $151.25.

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.