BNP Paribas Financial Markets Has $2.85 Million Stock Holdings in Commvault Systems, Inc. (NASDAQ:CVLT)

BNP Paribas Financial Markets reduced its stake in shares of Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 33.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 18,878 shares of the software maker's stock after selling 9,466 shares during the quarter. BNP Paribas Financial Markets' holdings in Commvault Systems were worth $2,849,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Quarry LP boosted its stake in shares of Commvault Systems by 888.2% during the 4th quarter. Quarry LP now owns 168 shares of the software maker's stock valued at $25,000 after buying an additional 151 shares during the period. TFC Financial Management Inc. boosted its position in Commvault Systems by 294.1% during the fourth 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 last quarter. GeoWealth Management LLC purchased a new position in Commvault Systems in the fourth quarter valued at about $101,000. Blue Trust Inc. increased its position in Commvault Systems by 37,400.0% in 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 last quarter. Finally, Meeder Asset Management Inc. purchased a new stake in shares of Commvault Systems during the 4th quarter worth about $127,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Commvault Systems

In related news, Director Nicola Adamo sold 1,500 shares of the business's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $169.74, for a total transaction of $254,610.00. Following the transaction, the director now directly owns 16,178 shares in the company, valued at $2,746,053.72. The trade was a 8.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 1.00% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently commented on CVLT. Royal Bank of Canada boosted their price target 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 restated a "neutral" rating on shares of Commvault Systems in a research note on Wednesday, April 23rd. Oppenheimer lifted their price objective on shares of Commvault Systems from $180.00 to $200.00 and gave the company an "outperform" rating in a research note on Wednesday, April 30th. Piper Sandler decreased their price objective on shares of Commvault Systems from $154.00 to $147.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. Finally, Wells Fargo & Company boosted their price target on Commvault Systems from $180.00 to $190.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 30th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $175.25.

Commvault Systems Stock Performance

Shares of Commvault Systems stock traded down $4.02 during trading on Wednesday, reaching $175.49. The company's stock had a trading volume of 26,514 shares, compared to its average volume of 417,839. Commvault Systems, Inc. has a one year low of $105.76 and a one year high of $190.11. The firm has a market cap of $7.74 billion, a price-to-earnings ratio of 46.14 and a beta of 0.71. The business's fifty day moving average price is $161.83 and its 200-day moving average price is $164.61.

Commvault Systems (NASDAQ:CVLT - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The software maker reported $1.03 EPS 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 company had revenue of $275.04 million for the quarter, compared to the consensus estimate of $262.52 million. During the same period in the previous year, the business posted $0.79 EPS. The company's revenue for the quarter was up 23.2% on a year-over-year basis. Sell-side analysts anticipate that Commvault Systems, Inc. will post 1.65 EPS for the current 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.