Caisse DE Depot ET Placement DU Quebec Increases Stock Position in Commvault Systems, Inc. (NASDAQ:CVLT)

Caisse DE Depot ET Placement DU Quebec lifted its holdings in Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 105.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 203,704 shares of the software maker's stock after purchasing an additional 104,489 shares during the period. Caisse DE Depot ET Placement DU Quebec owned 0.46% of Commvault Systems worth $30,741,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of CVLT. Quarry LP raised 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 purchasing an additional 151 shares during the period. TFC Financial Management Inc. grew 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 buying an additional 300 shares in the last quarter. GeoWealth Management LLC acquired a new stake in shares of Commvault Systems in the fourth quarter valued at approximately $101,000. Blue Trust Inc. lifted its position in Commvault Systems by 37,400.0% during the fourth 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. bought a new position in Commvault Systems in the fourth quarter valued at approximately $127,000. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CVLT has been the subject of several research reports. Cantor Fitzgerald raised their target price on Commvault Systems from $159.00 to $173.00 and gave the company a "neutral" rating in a research note on Wednesday, January 29th. StockNews.com raised Commvault Systems from a "hold" rating to a "buy" rating in a research note on Thursday, May 1st. Wells Fargo & Company increased their target price on Commvault Systems from $180.00 to $190.00 and gave the company an "overweight" rating in a research note on Wednesday, April 30th. Oppenheimer upped their price target on Commvault Systems from $180.00 to $200.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 30th. Finally, Guggenheim reissued a "neutral" rating on shares of Commvault Systems in a research note on Wednesday, April 23rd. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Commvault Systems has an average rating of "Moderate Buy" and a consensus target price of $175.25.

Commvault Systems Stock Performance

Shares of CVLT stock traded up $2.48 during trading hours on Thursday, hitting $177.11. 130,271 shares of the company were exchanged, compared to its average volume of 413,521. The business's 50-day simple moving average is $158.68 and its two-hundred day simple moving average is $162.57. The stock has a market capitalization of $7.79 billion, a price-to-earnings ratio of 46.28 and a beta of 0.71. 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 released its earnings results 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 business had revenue of $275.04 million during the quarter, compared to analyst estimates of $262.52 million. Commvault Systems had a net margin of 18.14% and a return on equity of 28.69%. The business's quarterly revenue was up 23.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.79 earnings per share. As a group, analysts anticipate that Commvault Systems, Inc. will post 1.65 EPS for the current fiscal year.

Insider Transactions at Commvault Systems

In related 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 transaction, the insider now owns 87,316 shares in the company, 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Nicola Adamo sold 1,500 shares of the business's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $169.74, for a total transaction of $254,610.00. Following the sale, the director now owns 16,178 shares of the company's stock, valued at $2,746,053.72. This trade represents a 8.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,105 shares of company stock valued at $3,159,737 in the last three months. 1.00% of the stock is owned by corporate insiders.

Commvault Systems 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.