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

Ethic Inc. bought a new position in shares of Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,487 shares of the software maker's stock, valued at approximately $224,000.

Other hedge funds also recently added to or reduced their stakes in the company. Quarry LP lifted its holdings in Commvault Systems by 888.2% during the 4th quarter. Quarry LP now owns 168 shares of the software maker's stock worth $25,000 after buying an additional 151 shares in the last quarter. TFC Financial Management Inc. lifted its holdings in Commvault Systems by 294.1% during the 4th quarter. TFC Financial Management Inc. now owns 402 shares of the software maker's stock worth $61,000 after buying an additional 300 shares in the last quarter. GeoWealth Management LLC acquired a new stake in Commvault Systems during the 4th quarter worth approximately $101,000. Blue Trust Inc. lifted its holdings in Commvault Systems by 37,400.0% during the 4th quarter. Blue Trust Inc. now owns 750 shares of the software maker's stock worth $113,000 after buying an additional 748 shares in the last quarter. Finally, Meeder Asset Management Inc. acquired a new stake in Commvault Systems during the 4th quarter worth approximately $127,000. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Wells Fargo & Company increased their target price on shares of Commvault Systems from $180.00 to $190.00 and gave the stock an "overweight" rating in a report on Wednesday, April 30th. Royal Bank of Canada raised their price objective on shares of Commvault Systems from $175.00 to $185.00 and gave the company a "sector perform" rating in a report on Wednesday, April 30th. William Blair upgraded shares of Commvault Systems from a "market perform" rating to an "outperform" rating in a report on Thursday, January 30th. KeyCorp reduced their price objective 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, Piper Sandler reduced their price objective 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. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $175.25.

Commvault Systems Stock Performance

Commvault Systems stock traded down $0.97 during midday trading on Friday, hitting $174.43. 265,548 shares of the company's stock were exchanged, compared to its average volume of 420,398. Commvault Systems, Inc. has a 12-month low of $105.76 and a 12-month high of $190.11. The stock has a market cap of $7.70 billion, a price-to-earnings ratio of 45.78 and a beta of 0.71. The firm's 50 day simple moving average is $163.05 and its 200 day simple moving average is $164.90.

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 the consensus estimate of $0.93 by $0.10. Commvault Systems had a net margin of 18.14% and a return on equity of 28.69%. The company had revenue of $275.04 million for the quarter, compared to the consensus estimate of $262.52 million. During the same period last year, the firm posted $0.79 EPS. Commvault Systems's revenue for the quarter was up 23.2% on a year-over-year basis. On average, equities research analysts forecast that Commvault Systems, Inc. will post 1.65 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Nicola Adamo sold 1,500 shares of Commvault Systems stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $169.74, for a total value 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. The trade was a 8.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.00% of the stock is currently owned by insiders.

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.