Jackson Creek Investment Advisors LLC Invests $1.07 Million in Commvault Systems, Inc. (NASDAQ:CVLT)

Jackson Creek Investment Advisors LLC bought a new position in shares of Commvault Systems, Inc. (NASDAQ:CVLT) during the 4th quarter, Holdings Channel.com reports. The fund bought 13,389 shares of the software maker’s stock, valued at approximately $1,069,000.

Several other hedge funds also recently made changes to their positions in the business. Exchange Traded Concepts LLC increased its stake in Commvault Systems by 1,581.9% in the third quarter. Exchange Traded Concepts LLC now owns 8,998 shares of the software maker’s stock valued at $608,000 after acquiring an additional 8,463 shares during the last quarter. Simplicity Solutions LLC increased its stake in 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 acquiring an additional 397 shares during the last quarter. Bailard Inc. increased its stake in Commvault Systems by 14.0% in the third quarter. Bailard Inc. now owns 4,900 shares of the software maker’s stock valued at $331,000 after acquiring an additional 600 shares during the last quarter. Mackenzie Financial Corp increased its stake in Commvault Systems by 0.3% in the third quarter. Mackenzie Financial Corp now owns 1,917,009 shares of the software maker’s stock valued at $128,593,000 after acquiring an additional 6,130 shares during the last quarter. Finally, Strs Ohio increased its stake in Commvault Systems by 1.8% in the third quarter. Strs Ohio now owns 16,600 shares of the software maker’s stock valued at $1,122,000 after acquiring an additional 300 shares during the last quarter. 93.50% of the stock is owned by institutional investors.

Insider Activity at Commvault Systems

In related news, Director Allison Pickens sold 990 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $94.73, for a total transaction of $93,782.70. Following the sale, the director now directly owns 7,206 shares in the company, valued at approximately $682,624.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Allison Pickens sold 990 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $94.73, for a total transaction of $93,782.70. Following the sale, the director now directly owns 7,206 shares in the company, valued at approximately $682,624.38. The sale 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 stock was sold at an average price of $97.82, for a total transaction of $2,102,543.08. Following the completion of the sale, 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. In the last ninety days, insiders have sold 23,306 shares of company stock worth $2,276,265. 1.00% of the stock is owned by corporate insiders.

Commvault Systems Stock Performance

CVLT traded up $3.04 during midday trading on Tuesday, reaching $102.47. The company had a trading volume of 669,869 shares, compared to its average volume of 304,218. The stock has a market cap of $4.49 billion, a PE ratio of -3,542.49 and a beta of 0.62. Commvault Systems, Inc. has a 12-month low of $57.90 and a 12-month high of $107.46. The business has a 50-day moving average price of $97.59 and a two-hundred day moving average price of $84.20.

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

Analyst Upgrades and Downgrades

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

Commvault Systems Company 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.