Handelsbanken Fonder AB Buys 2,300 Shares of Commvault Systems, Inc. (NASDAQ:CVLT)

Handelsbanken Fonder AB boosted its position in Commvault Systems, Inc. (NASDAQ:CVLT) by 34.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,930 shares of the software maker’s stock after purchasing an additional 2,300 shares during the period. Handelsbanken Fonder AB’s holdings in Commvault Systems were worth $713,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of CVLT. Inspire Investing LLC grew its stake in shares of Commvault Systems by 5.4% during the 3rd quarter. Inspire Investing LLC now owns 4,548 shares of the software maker’s stock worth $307,000 after acquiring an additional 231 shares during the period. Strs Ohio boosted its position in Commvault Systems by 1.8% during the third quarter. Strs Ohio now owns 16,600 shares of the software maker’s stock worth $1,122,000 after purchasing an additional 300 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of Commvault Systems by 28.5% in the third quarter. PNC Financial Services Group Inc. now owns 1,429 shares of the software maker’s stock worth $97,000 after purchasing an additional 317 shares in the last quarter. Simplicity Solutions LLC raised its position in shares of Commvault Systems by 7.6% in the third quarter. Simplicity Solutions LLC now owns 5,642 shares of the software maker’s stock valued at $381,000 after purchasing an additional 397 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Commvault Systems by 2.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,839 shares of the software maker’s stock valued at $1,584,000 after buying an additional 455 shares in the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO Gary Merrill sold 822 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $97.25, for a total value of $79,939.50. Following the completion of the transaction, the chief financial officer now directly owns 87,945 shares in the company, valued at $8,552,651.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Gary Merrill sold 822 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $97.25, for a total value of $79,939.50. Following the completion of the sale, the chief financial officer now owns 87,945 shares in the company, valued at approximately $8,552,651.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sanjay Mirchandani sold 21,494 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $97.82, for a total transaction of $2,102,543.08. Following the transaction, the chief executive officer now owns 399,356 shares in the company, valued at $39,065,003.92. The disclosure for this sale can be found here. Insiders sold a total of 23,306 shares of company stock valued at $2,276,265 in the last quarter. Corporate insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on CVLT shares. KeyCorp raised shares of Commvault Systems from a “sector weight” rating to an “overweight” rating and set a $109.00 target price on the stock in a report on Wednesday, January 31st. Royal Bank of Canada increased their price objective on Commvault Systems from $86.00 to $97.00 and gave the stock a “sector perform” rating in a report on Wednesday, January 31st. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $85.60.

Commvault Systems Stock Performance

Shares of CVLT stock opened at $99.43 on Tuesday. Commvault Systems, Inc. has a 52-week low of $57.90 and a 52-week high of $102.21. The business’s fifty day moving average is $97.59 and its 200 day moving average is $84.20. The company has a market capitalization of $4.35 billion, a PE ratio of -3,313.23 and a beta of 0.62.

Commvault Systems (NASDAQ:CVLT) last issued its quarterly earnings data on Tuesday, January 30th. The software maker reported $0.78 EPS for the quarter, topping the consensus estimate of $0.73 by $0.05. Commvault Systems had a positive return on equity of 32.27% and a negative net margin of 0.09%. The company had revenue of $216.81 million during the quarter, compared to analyst estimates of $208.01 million. During the same quarter in the previous year, the firm earned $0.17 earnings per share. Commvault Systems’s revenue was up 11.1% on a year-over-year basis. On average, sell-side analysts forecast that Commvault Systems, Inc. will post 1.35 EPS for the current fiscal year.

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.