Commvault Systems, Inc. (NASDAQ:CVLT) Stock Holdings Lowered by Ameriprise Financial Inc.

Ameriprise Financial Inc. lessened its holdings in shares of Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 6.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 116,056 shares of the software maker's stock after selling 8,017 shares during the quarter. Ameriprise Financial Inc. owned 0.26% of Commvault Systems worth $17,514,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. Quarry LP increased its position in shares of Commvault Systems by 888.2% in the 4th quarter. Quarry LP now owns 168 shares of the software maker's stock worth $25,000 after purchasing an additional 151 shares during the last quarter. TFC Financial Management Inc. increased its position in shares of Commvault Systems by 294.1% in the 4th quarter. TFC Financial Management Inc. now owns 402 shares of the software maker's stock worth $61,000 after purchasing an additional 300 shares during the last quarter. GeoWealth Management LLC bought a new stake in shares of Commvault Systems in the 4th quarter worth about $101,000. Blue Trust Inc. raised its position 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 valued at $113,000 after acquiring an additional 748 shares in the last quarter. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Commvault Systems during the 4th quarter valued at approximately $127,000. Institutional investors and hedge funds own 93.50% of the company's stock.

Insider Buying and Selling at Commvault Systems

In other news, Director Nicola Adamo sold 1,500 shares of Commvault Systems stock in a transaction on 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 approximately $2,746,053.72. This trade represents a 8.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Gary Merrill sold 3,287 shares of Commvault Systems 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 approximately $16,322,853.04. This trade represents a 3.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 17,105 shares of company stock valued at $3,159,737. Company insiders own 1.00% of the company's stock.

Wall Street Analysts Forecast Growth

CVLT has been the topic of several research reports. StockNews.com raised Commvault Systems from a "hold" rating to a "buy" rating in a research report on Thursday, May 1st. Guggenheim reissued a "neutral" rating on shares of Commvault Systems in a research report on Wednesday, April 23rd. Piper Sandler cut their target price on shares of Commvault Systems from $154.00 to $147.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. KeyCorp cut their target price on shares of Commvault Systems from $195.00 to $185.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Finally, Oppenheimer raised their target price on shares of Commvault Systems from $180.00 to $200.00 and gave the stock an "outperform" rating in a report on Wednesday, April 30th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $175.25.

Commvault Systems Stock Performance

Shares of CVLT traded up $0.11 during midday trading on Monday, hitting $178.15. 446,767 shares of the stock traded hands, compared to its average volume of 418,722. Commvault Systems, Inc. has a 1-year low of $105.76 and a 1-year high of $190.11. The firm has a market capitalization of $7.86 billion, a PE ratio of 46.76 and a beta of 0.71. The business's 50 day moving average price is $161.83 and its two-hundred day moving average price is $164.61.

Commvault Systems (NASDAQ:CVLT - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The software maker reported $1.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 analyst estimates of $262.52 million. During the same period in the prior year, the company posted $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 research analysts forecast that Commvault Systems, Inc. will post 1.65 EPS for the current fiscal year.

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.