Algert Global LLC Sells 28,356 Shares of Commvault Systems, Inc. (NASDAQ:CVLT)

Algert Global LLC lessened its stake in Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 38.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,303 shares of the software maker's stock after selling 28,356 shares during the quarter. Algert Global LLC owned 0.10% of Commvault Systems worth $6,837,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Invesco Ltd. lifted its position in Commvault Systems by 57.7% in the 4th quarter. Invesco Ltd. now owns 1,660,108 shares of the software maker's stock valued at $250,527,000 after acquiring an additional 607,643 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Commvault Systems by 604.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 647,525 shares of the software maker's stock worth $98,479,000 after purchasing an additional 555,656 shares during the last quarter. Norges Bank bought a new position in shares of Commvault Systems during the fourth quarter valued at $79,619,000. Caisse DE Depot ET Placement DU Quebec boosted its position in shares of Commvault Systems by 105.3% during the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 203,704 shares of the software maker's stock valued at $30,741,000 after buying an additional 104,489 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in Commvault Systems by 21.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 492,045 shares of the software maker's stock worth $74,255,000 after buying an additional 86,736 shares in the last quarter. Institutional investors own 93.50% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. StockNews.com upgraded shares of Commvault Systems from a "hold" rating to a "buy" rating in a research note on Thursday. Wells Fargo & Company raised their target price on shares of Commvault Systems from $180.00 to $190.00 and gave the stock an "overweight" rating in a report on Wednesday, April 30th. Piper Sandler decreased their target price on shares of Commvault Systems from $154.00 to $147.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. DA Davidson raised their price target on Commvault Systems from $185.00 to $200.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Finally, Guggenheim reaffirmed a "neutral" rating on shares of Commvault Systems in a report on Wednesday, April 23rd. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $175.25.

Insider Buying and Selling at Commvault Systems

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

Commvault Systems Stock Performance

Shares of Commvault Systems stock opened at $172.55 on Monday. The stock has a market cap of $7.59 billion, a P/E ratio of 45.29 and a beta of 0.68. The stock's fifty day moving average is $158.48 and its 200 day moving average is $162.19. Commvault Systems, Inc. has a one year low of $105.76 and a one year high of $190.11.

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