Tealwood Asset Management Inc. Sells 3,528 Shares of Commvault Systems, Inc. (NASDAQ:CVLT)

Tealwood Asset Management Inc. cut its stake in Commvault Systems, Inc. (NASDAQ:CVLT) by 31.4% in the first quarter, HoldingsChannel.com reports. The fund owned 7,716 shares of the software maker’s stock after selling 3,528 shares during the period. Tealwood Asset Management Inc.’s holdings in Commvault Systems were worth $1,217,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Quarry LP increased its stake in shares of Commvault Systems by 888.2% in the 4th quarter. Quarry LP now owns 168 shares of the software maker’s stock valued at $25,000 after acquiring an additional 151 shares during the last quarter. Whipplewood Advisors LLC increased its stake in shares of Commvault Systems by 584.0% in the 1st quarter. Whipplewood Advisors LLC now owns 171 shares of the software maker’s stock valued at $27,000 after acquiring an additional 146 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its stake in shares of Commvault Systems by 208.3% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 185 shares of the software maker’s stock valued at $29,000 after acquiring an additional 125 shares during the last quarter. NBC Securities Inc. bought a new stake in shares of Commvault Systems in the 1st quarter valued at about $43,000. Finally, Versant Capital Management Inc increased its stake in shares of 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 acquiring an additional 191 shares during the last quarter. 93.50% of the stock is owned by institutional investors.

Commvault Systems Stock Up 0.7%

NASDAQ:CVLT opened at $188.57 on Friday. The company has a market cap of $8.32 billion, a P/E ratio of 49.49 and a beta of 0.75. Commvault Systems, Inc. has a twelve month low of $112.58 and a twelve month high of $190.11. The business has a 50 day moving average price of $166.78 and a two-hundred day moving average price of $165.76.

Commvault Systems (NASDAQ:CVLT) last posted its quarterly earnings data on Tuesday, April 29th. The software maker reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.10. Commvault Systems had a return on equity of 28.69% and a net margin of 18.14%. The firm had revenue of $275.04 million for the quarter, compared to analysts’ expectations of $262.52 million. During the same quarter last year, the business earned $0.79 EPS. The company’s quarterly revenue was up 23.2% compared to the same quarter last year. As a group, analysts anticipate that Commvault Systems, Inc. will post 1.65 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Sanjay Mirchandani sold 1,709 shares of the firm’s stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $299,075.00. Following the completion of the transaction, the chief executive officer now directly owns 469,648 shares in the company, valued at $82,188,400. This trade represents a 0.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Nicola Adamo sold 1,500 shares of Commvault Systems stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $169.74, for a total value of $254,610.00. Following the completion of the sale, the director now owns 16,178 shares of the company’s stock, valued at approximately $2,746,053.72. The trade was a 8.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,957 shares of company stock worth $859,428. Company insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Wells Fargo & Company increased their target price on Commvault Systems from $180.00 to $190.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 30th. DA Davidson increased their target price on Commvault Systems from $185.00 to $200.00 and gave the stock a “buy” rating in a research note on Tuesday, April 29th. Wall Street Zen raised Commvault Systems from a “hold” rating to a “buy” rating in a research note on Thursday, May 1st. Oppenheimer increased their target price on Commvault Systems from $180.00 to $200.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 30th. Finally, Piper Sandler lowered their target price on Commvault Systems from $154.00 to $147.00 and set a “neutral” rating for the company in a research note on Tuesday, April 8th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $175.25.

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.