Ethic Inc. Takes $224,000 Position in Commvault Systems, Inc. (NASDAQ:CVLT)

Ethic Inc. purchased a new stake in Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,487 shares of the software maker's stock, valued at approximately $224,000.

Several other institutional investors have also recently made changes to their positions in CVLT. Quarry LP raised its holdings 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 acquiring an additional 151 shares in the last quarter. TFC Financial Management Inc. grew its position in Commvault Systems by 294.1% in the fourth quarter. TFC Financial Management Inc. now owns 402 shares of the software maker's stock worth $61,000 after acquiring an additional 300 shares in the last quarter. GeoWealth Management LLC bought a new stake in Commvault Systems during the fourth quarter worth about $101,000. Blue Trust Inc. increased 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 purchasing an additional 748 shares during the last quarter. Finally, Meeder Asset Management Inc. bought a new stake in Commvault Systems in the 4th quarter worth approximately $127,000. Institutional investors own 93.50% of the company's stock.

Commvault Systems Stock Up 0.8%

NASDAQ:CVLT traded up $1.36 during mid-day trading on Tuesday, hitting $179.51. 430,976 shares of the stock traded hands, compared to its average volume of 419,356. The firm's 50 day moving average is $161.83 and its two-hundred day moving average is $164.61. Commvault Systems, Inc. has a 52 week low of $105.76 and a 52 week high of $190.11. The stock has a market capitalization of $7.92 billion, a price-to-earnings ratio of 47.12 and a beta of 0.71.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on CVLT shares. Piper Sandler lowered 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. Oppenheimer lifted their price objective on Commvault Systems from $180.00 to $200.00 and gave the stock an "outperform" rating in a report on Wednesday, April 30th. DA Davidson increased their target price on Commvault Systems from $185.00 to $200.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Wells Fargo & Company lifted their price target on Commvault Systems from $180.00 to $190.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 30th. Finally, StockNews.com upgraded Commvault Systems from a "hold" rating to a "buy" rating in a research report on Thursday, May 1st. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $175.25.

Insiders Place Their Bets

In related news, insider Gary Merrill sold 3,287 shares of Commvault Systems stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $186.94, for a total value of $614,471.78. Following the sale, the insider now directly owns 87,316 shares in the company, valued at approximately $16,322,853.04. The trade was a 3.63% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Sanjay Mirchandani sold 12,318 shares of the business's stock in a transaction dated 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 transaction, the chief executive officer now directly owns 427,231 shares in the company, valued at approximately $79,447,876.76. The trade was a 2.80% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 17,105 shares of company stock valued at $3,159,737. Company insiders own 1.00% of the company's stock.

About Commvault Systems

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.