Commvault Systems, Inc. (NASDAQ:CVLT) Shares Purchased by Rhumbline Advisers

Rhumbline Advisers raised its stake in shares of Commvault Systems, Inc. (NASDAQ:CVLT) by 1.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 139,664 shares of the software maker’s stock after purchasing an additional 2,052 shares during the period. Rhumbline Advisers owned 0.32% of Commvault Systems worth $22,033,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Quarry LP increased its position in shares of Commvault Systems by 888.2% in the fourth quarter. Quarry LP now owns 168 shares of the software maker’s stock worth $25,000 after acquiring an additional 151 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its position in shares of Commvault Systems by 208.3% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 185 shares of the software maker’s stock worth $29,000 after acquiring an additional 125 shares in the last quarter. Versant Capital Management Inc increased its holdings in Commvault Systems by 183.7% in the 1st quarter. Versant Capital Management Inc now owns 295 shares of the software maker’s stock valued at $47,000 after purchasing an additional 191 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. increased its holdings in Commvault Systems by 409.0% in the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 341 shares of the software maker’s stock valued at $51,000 after purchasing an additional 274 shares in the last quarter. Finally, TFC Financial Management Inc. increased its holdings in Commvault Systems by 294.1% in the 4th quarter. TFC Financial Management Inc. now owns 402 shares of the software maker’s stock valued at $61,000 after purchasing an additional 300 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Insider Activity

In related news, Director Nicola Adamo sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $169.74, for a total transaction of $254,610.00. Following the completion of the transaction, the director now owns 16,178 shares in the company, valued at $2,746,053.72. The trade was a 8.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Gary Merrill sold 1,748 shares of the business’s stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $174.91, for a total value of $305,742.68. Following the transaction, the insider now owns 89,923 shares of the company’s stock, valued at $15,728,431.93. This represents a 1.91% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 4,957 shares of company stock valued at $859,428. Company insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CVLT. KeyCorp lowered their target price on Commvault Systems from $195.00 to $185.00 and set an “overweight” rating for the company in a research note on Thursday, April 17th. Royal Bank of Canada raised their price objective on Commvault Systems from $175.00 to $185.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 30th. Guggenheim reissued a “neutral” rating on shares of Commvault Systems in a research report on Wednesday, April 23rd. Wells Fargo & Company raised their price target on shares of Commvault Systems from $180.00 to $190.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 30th. Finally, DA Davidson raised their price objective on shares of Commvault Systems from $185.00 to $200.00 and gave the stock a “buy” rating in a report on Tuesday, April 29th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $175.25.

Commvault Systems Trading Up 0.7%

Shares of CVLT opened at $188.57 on Friday. The firm has a market cap of $8.32 billion, a price-to-earnings ratio of 49.49 and a beta of 0.75. The stock has a 50 day moving average of $166.78 and a 200-day moving average of $165.76. Commvault Systems, Inc. has a 52 week low of $112.58 and a 52 week high of $190.11.

Commvault Systems (NASDAQ:CVLT) last released its quarterly earnings data on Tuesday, April 29th. The software maker reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.10. Commvault Systems had a net margin of 18.14% and a return on equity of 28.69%. The firm had revenue of $275.04 million during the quarter, compared to the consensus estimate of $262.52 million. During the same quarter in the previous year, the company posted $0.79 earnings per share. The firm’s revenue was up 23.2% on a year-over-year basis. On average, sell-side analysts predict that Commvault Systems, Inc. will post 1.65 earnings per share for the current fiscal year.

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.