1,540 Shares in Commvault Systems, Inc. (NASDAQ:CVLT) Purchased by Freestone Grove Partners LP

Freestone Grove Partners LP acquired a new position in Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,540 shares of the software maker's stock, valued at approximately $232,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CVLT. Quarry LP increased its position in shares of Commvault Systems by 888.2% during the fourth 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. TFC Financial Management Inc. grew its stake 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 during the period. GeoWealth Management LLC purchased a new stake in shares of Commvault Systems during the 4th quarter valued at $101,000. Blue Trust Inc. raised its stake in shares of Commvault Systems by 37,400.0% during the 4th quarter. Blue Trust Inc. now owns 750 shares of the software maker's stock worth $113,000 after purchasing an additional 748 shares during the period. Finally, Meeder Asset Management Inc. purchased a new position in shares of Commvault Systems in the 4th quarter worth about $127,000. Hedge funds and other institutional investors own 93.50% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Royal Bank of Canada boosted their target price on shares of 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 reiterated a "neutral" rating on shares of Commvault Systems in a research note on Wednesday, April 23rd. William Blair raised Commvault Systems from a "market perform" rating to an "outperform" rating in a research report on Thursday, January 30th. Oppenheimer upped their price target on Commvault Systems from $180.00 to $200.00 and gave the company an "outperform" rating in a research report on Wednesday, April 30th. Finally, DA Davidson lifted their price objective on Commvault Systems from $185.00 to $200.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $175.25.

Insider Transactions at Commvault Systems

In other Commvault Systems news, insider Gary Merrill sold 3,287 shares of the business's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $186.94, for a total value of $614,471.78. Following the completion of the sale, the insider now directly owns 87,316 shares of the company's stock, valued at $16,322,853.04. The trade was a 3.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Sanjay Mirchandani sold 12,318 shares of the firm's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $185.96, for a total value of $2,290,655.28. Following the transaction, the chief executive officer now directly owns 427,231 shares in the company, valued at $79,447,876.76. This trade represents a 2.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.00% of the company's stock.

Commvault Systems Stock Up 0.8 %

CVLT opened at $174.00 on Tuesday. The business's fifty day simple moving average is $158.52 and its 200 day simple moving average is $162.42. Commvault Systems, Inc. has a 52 week low of $105.76 and a 52 week high of $190.11. The stock has a market cap of $7.66 billion, a PE ratio of 45.67 and a beta of 0.71.

Commvault Systems (NASDAQ:CVLT - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The software maker reported $1.03 EPS for the quarter, beating the consensus estimate of $0.93 by $0.10. The firm had revenue of $275.04 million for the quarter, compared to analyst estimates of $262.52 million. Commvault Systems had a return on equity of 28.69% and a net margin of 18.14%. The company's revenue was up 23.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.79 EPS. As a group, equities analysts anticipate that Commvault Systems, Inc. will post 1.65 earnings per share for the current 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.

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