Zurcher Kantonalbank Zurich Cantonalbank Purchases 969 Shares of Commvault Systems, Inc. (NASDAQ:CVLT)

Zurcher Kantonalbank Zurich Cantonalbank increased its position in Commvault Systems, Inc. (NASDAQ:CVLT) by 5.2% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 19,607 shares of the software maker’s stock after buying an additional 969 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Commvault Systems were worth $3,017,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. National Bank of Canada FI bought a new position in Commvault Systems in the 2nd quarter worth $30,000. Capital Performance Advisors LLP bought a new position in shares of Commvault Systems during the 3rd quarter valued at about $33,000. Hexagon Capital Partners LLC boosted 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 during the last quarter. Signaturefd LLC boosted its holdings in shares of Commvault Systems by 70.8% during 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 position in shares of Commvault Systems during the 2nd quarter valued at about $56,000. Institutional investors own 93.50% of the company’s stock.

Commvault Systems Price Performance

Commvault Systems stock opened at $170.39 on Wednesday. The firm has a market capitalization of $7.45 billion, a P/E ratio of 43.14 and a beta of 0.61. Commvault Systems, Inc. has a 1-year low of $73.33 and a 1-year high of $178.72. The company’s 50-day moving average is $159.15 and its 200 day moving average is $141.35.

Commvault Systems (NASDAQ:CVLT) last announced its quarterly earnings data on Tuesday, October 29th. The software maker reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.07. The business had revenue of $233.28 million during the quarter, compared to the consensus estimate of $220.76 million. Commvault Systems had a net margin of 19.75% and a return on equity of 31.62%. The firm’s quarterly revenue was up 16.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.30 earnings per share. Research analysts anticipate that Commvault Systems, Inc. will post 1.66 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Gary Merrill sold 1,523 shares of Commvault Systems stock in a transaction that occurred 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 sale, the insider now owns 93,007 shares of the company’s stock, valued at approximately $15,335,924.23. The trade was a 1.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Allison Pickens sold 1,232 shares of Commvault Systems stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $172.50, for a total transaction of $212,520.00. Following the sale, the director now directly owns 5,899 shares of the company’s stock, valued at $1,017,577.50. This represents a 17.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 13,530 shares of company stock valued at $2,244,755 over the last 90 days. Insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.