Commvault Systems, Inc. (NASDAQ:CVLT) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company reduced its stake in shares of Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 4.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 304,214 shares of the software maker's stock after selling 13,827 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.69% of Commvault Systems worth $45,909,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Quarry LP increased its holdings in 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 acquiring an additional 151 shares in the last quarter. TFC Financial Management Inc. increased its stake 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 acquiring an additional 300 shares during the last quarter. GeoWealth Management LLC acquired a new position in shares of Commvault Systems during the 4th quarter valued at about $101,000. Blue Trust Inc. grew its holdings in shares of Commvault Systems by 37,400.0% in the fourth quarter. Blue Trust Inc. now owns 750 shares of the software maker's stock valued at $113,000 after purchasing an additional 748 shares during the period. Finally, Meeder Asset Management Inc. acquired a new stake in Commvault Systems during the fourth quarter worth about $127,000. 93.50% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related 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 transaction, the insider now 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 filing with the SEC, which is available through this link. Also, CEO Sanjay Mirchandani sold 12,318 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 427,231 shares of the company's stock, valued at $79,447,876.76. The trade was a 2.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.

Commvault Systems Stock Up 3.9 %

CVLT traded up $6.53 on Friday, reaching $172.55. The company's stock had a trading volume of 403,441 shares, compared to its average volume of 414,005. Commvault Systems, Inc. has a fifty-two week low of $105.76 and a fifty-two week high of $190.11. The stock has a 50 day moving average of $158.48 and a two-hundred day moving average of $162.05. The company has a market capitalization of $7.59 billion, a price-to-earnings ratio of 45.29 and a beta of 0.68.

Commvault Systems (NASDAQ:CVLT - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The software maker reported $1.03 earnings per share for the quarter, beating analysts' consensus estimates of $0.93 by $0.10. The firm had revenue of $275.04 million during the quarter, compared to analysts' expectations of $262.52 million. Commvault Systems had a net margin of 18.14% and a return on equity of 28.69%. Commvault Systems's quarterly revenue was up 23.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.79 earnings per share. As a group, analysts anticipate that Commvault Systems, Inc. will post 1.65 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently weighed in on CVLT. Wells Fargo & Company increased their price objective on Commvault Systems from $180.00 to $190.00 and gave the stock an "overweight" rating in a research report on Wednesday. KeyCorp cut their price objective on Commvault Systems from $195.00 to $185.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Piper Sandler decreased their target price on shares of Commvault Systems from $154.00 to $147.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. Cantor Fitzgerald lifted their price target on shares of Commvault Systems from $159.00 to $173.00 and gave the company a "neutral" rating in a research report on Wednesday, January 29th. Finally, DA Davidson increased their price objective on shares of Commvault Systems from $185.00 to $200.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $175.25.

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.