Polar Capital Holdings Plc Boosts Stock Position in Commvault Systems, Inc. (NASDAQ:CVLT)

Polar Capital Holdings Plc lifted its position in Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 182.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 362,958 shares of the software maker's stock after buying an additional 234,477 shares during the quarter. Polar Capital Holdings Plc owned approximately 0.82% of Commvault Systems worth $54,774,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in CVLT. Benjamin Edwards Inc. increased its stake in Commvault Systems by 3.3% in the 4th quarter. Benjamin Edwards Inc. now owns 1,803 shares of the software maker's stock valued at $272,000 after purchasing an additional 58 shares in the last quarter. Hancock Whitney Corp lifted its position in Commvault Systems by 1.0% during the 4th quarter. Hancock Whitney Corp now owns 5,781 shares of the software maker's stock worth $872,000 after acquiring an additional 60 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of Commvault Systems by 3.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,960 shares of the software maker's stock valued at $296,000 after acquiring an additional 66 shares during the last quarter. CIBC Asset Management Inc raised its position in shares of Commvault Systems by 5.6% during the 4th quarter. CIBC Asset Management Inc now owns 1,413 shares of the software maker's stock worth $213,000 after purchasing an additional 75 shares during the period. Finally, PNC Financial Services Group Inc. boosted its position in Commvault Systems by 4.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,439 shares of the software maker's stock worth $368,000 after acquiring an additional 93 shares during the period. 93.50% of the stock is owned by institutional investors and hedge funds.

Commvault Systems Trading Up 1.0%

CVLT traded up $1.72 on Tuesday, hitting $179.87. 190,293 shares of the company's stock traded hands, compared to its average volume of 417,885. The firm has a market cap of $7.94 billion, a price-to-earnings ratio of 47.23 and a beta of 0.71. The company's 50 day simple moving average is $161.83 and its 200-day simple moving average is $164.61. 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 issued its earnings results 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 business had revenue of $275.04 million during the quarter, compared to analysts' expectations of $262.52 million. During the same period in the prior year, the business earned $0.79 EPS. The business's revenue for the quarter was up 23.2% compared to the same quarter last year. As a group, equities analysts anticipate that Commvault Systems, Inc. will post 1.65 EPS for the current fiscal year.

Insider Buying and Selling

In other Commvault Systems news, Director Nicola Adamo sold 1,500 shares of the business's stock in a transaction dated 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 directly owns 16,178 shares in the company, valued at $2,746,053.72. This represents a 8.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sanjay Mirchandani sold 12,318 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $185.96, for a total transaction of $2,290,655.28. Following the completion of the transaction, the chief executive officer now owns 427,231 shares in the company, valued at $79,447,876.76. This represents a 2.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 17,105 shares of company stock valued at $3,159,737 over the last ninety days. Company insiders own 1.00% of the company's stock.

Analyst Ratings Changes

CVLT has been the subject of several analyst reports. Oppenheimer upped their target price on Commvault Systems from $180.00 to $200.00 and gave the company an "outperform" rating in a report on Wednesday, April 30th. KeyCorp lowered their price objective on Commvault Systems from $195.00 to $185.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. Piper Sandler dropped their target price on Commvault Systems from $154.00 to $147.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. StockNews.com raised Commvault Systems from a "hold" rating to a "buy" rating in a research note on Thursday, May 1st. Finally, Royal Bank of Canada lifted 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. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target 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.