Commvault Systems, Inc. (NASDAQ:CVLT) Shares Sold by Abacus FCF Advisors LLC

Abacus FCF Advisors LLC trimmed its stake in shares of Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 10.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,024 shares of the software maker's stock after selling 2,956 shares during the quarter. Abacus FCF Advisors LLC owned 0.06% of Commvault Systems worth $4,106,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Invesco Ltd. grew its holdings in Commvault Systems by 57.7% during the 4th quarter. Invesco Ltd. now owns 1,660,108 shares of the software maker's stock worth $250,527,000 after acquiring an additional 607,643 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Commvault Systems by 604.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 647,525 shares of the software maker's stock worth $98,479,000 after acquiring an additional 555,656 shares in the last quarter. Norges Bank acquired a new position in Commvault Systems during the 4th quarter worth approximately $79,619,000. Wedge Capital Management L L P NC grew its holdings in Commvault Systems by 1,936.0% during the 1st quarter. Wedge Capital Management L L P NC now owns 360,355 shares of the software maker's stock worth $56,850,000 after acquiring an additional 342,656 shares in the last quarter. Finally, Polar Capital Holdings Plc boosted its position in shares of Commvault Systems by 182.5% during the 4th quarter. Polar Capital Holdings Plc now owns 362,958 shares of the software maker's stock worth $54,774,000 after acquiring an additional 234,477 shares in the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Commvault Systems news, CEO Sanjay Mirchandani sold 1,709 shares of Commvault Systems stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $299,075.00. Following the completion of the transaction, the chief executive officer now owns 469,648 shares in the company, valued at approximately $82,188,400. The trade was a 0.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Nicola Adamo sold 1,500 shares of the business's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $169.74, for a total value of $254,610.00. Following the completion of the transaction, the director now directly owns 16,178 shares of the company's stock, valued at approximately $2,746,053.72. This trade represents a 8.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,957 shares of company stock valued at $859,428 in the last three months. 1.00% of the stock is currently owned by company insiders.

Commvault Systems Stock Down 0.8%

NASDAQ:CVLT traded down $1.47 during trading hours on Friday, reaching $184.62. 371,787 shares of the company's stock were exchanged, compared to its average volume of 425,723. Commvault Systems, Inc. has a 1-year low of $114.15 and a 1-year high of $192.01. The company has a 50-day moving average of $169.81 and a 200 day moving average of $166.18. The firm has a market capitalization of $8.15 billion, a price-to-earnings ratio of 48.46 and a beta of 0.75.

Commvault Systems (NASDAQ:CVLT - Get Free Report) last released its earnings results on Tuesday, April 29th. The software maker reported $1.03 EPS for the quarter, topping the consensus estimate of $0.93 by $0.10. The company 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%. The business's revenue was up 23.2% on a year-over-year basis. During the same quarter last year, the business earned $0.79 EPS. Research analysts forecast that Commvault Systems, Inc. will post 1.65 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on CVLT shares. Guggenheim reaffirmed a "neutral" rating on shares of Commvault Systems in a research report on Wednesday, April 23rd. Wells Fargo & Company upped their target price on shares of Commvault Systems from $180.00 to $190.00 and gave the company an "overweight" rating in a report on Wednesday, April 30th. KeyCorp lowered their target price on shares of Commvault Systems from $195.00 to $185.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Wall Street Zen upgraded shares of Commvault Systems from a "hold" rating to a "buy" rating in a report on Thursday, May 1st. Finally, Royal Bank of Canada upped their target price 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. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $175.25.

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.