Maverick Capital Ltd. Boosts Holdings in Commvault Systems, Inc. (NASDAQ:CVLT)

Maverick Capital Ltd. boosted its position in shares of Commvault Systems, Inc. (NASDAQ:CVLT) by 94.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,817 shares of the software maker’s stock after acquiring an additional 9,619 shares during the period. Maverick Capital Ltd.’s holdings in Commvault Systems were worth $3,049,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Summit Partners Public Asset Management LLC acquired a new position in Commvault Systems during the 3rd quarter valued at approximately $67,722,000. AQR Capital Management LLC lifted its holdings in Commvault Systems by 33.5% during the second quarter. AQR Capital Management LLC now owns 648,858 shares of the software maker’s stock valued at $78,882,000 after purchasing an additional 162,722 shares in the last quarter. Renaissance Technologies LLC lifted its stake in shares of Commvault Systems by 7.5% in the second quarter. Renaissance Technologies LLC now owns 1,813,487 shares of the software maker’s stock worth $220,466,000 after buying an additional 126,800 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Commvault Systems by 25.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 586,795 shares of the software maker’s stock worth $90,278,000 after buying an additional 120,779 shares in the last quarter. Finally, Congress Asset Management Co. lifted its stake in shares of Commvault Systems by 29.4% in the third quarter. Congress Asset Management Co. now owns 492,162 shares of the software maker’s stock worth $75,719,000 after buying an additional 111,715 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Royal Bank of Canada raised their price target on shares of Commvault Systems from $164.00 to $182.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 30th. Oppenheimer initiated coverage on shares of Commvault Systems in a research note on Wednesday, November 13th. They issued an “outperform” rating and a $200.00 price target on the stock. DA Davidson raised their price objective on shares of Commvault Systems from $170.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. StockNews.com cut shares of Commvault Systems from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 1st. Finally, Guggenheim cut shares of Commvault Systems from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 15th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $151.25.

Insider Buying and Selling

In other news, CEO Sanjay Mirchandani sold 10,775 shares of Commvault Systems stock in a transaction on Monday, November 18th. The shares were sold at an average price of $165.30, for a total value of $1,781,107.50. Following the transaction, the chief executive officer now directly owns 459,969 shares of the company’s stock, valued at $76,032,875.70. The trade was a 2.29 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Gary Merrill sold 1,523 shares of Commvault Systems stock in a transaction on Monday, November 18th. The shares were sold at an average price of $164.89, for a total transaction of $251,127.47. Following the completion of the transaction, the insider now directly owns 93,007 shares in the company, 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. 1.00% of the stock is owned by insiders.

Commvault Systems Stock Performance

Shares of CVLT stock opened at $171.59 on Friday. The stock has a market capitalization of $7.50 billion, a P/E ratio of 43.44 and a beta of 0.59. The company has a 50 day moving average price of $158.48 and a 200 day moving average price of $140.09. Commvault Systems, Inc. has a fifty-two week low of $72.76 and a fifty-two 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, topping analysts’ consensus estimates of $0.76 by $0.07. Commvault Systems had a net margin of 19.75% and a return on equity of 31.62%. The company had revenue of $233.28 million during the quarter, compared to the consensus estimate of $220.76 million. During the same quarter in the previous year, the firm earned $0.30 earnings per share. The firm’s quarterly revenue was up 16.1% on a year-over-year basis. On average, research analysts forecast that Commvault Systems, Inc. will post 1.66 EPS for the current fiscal 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.