Banque Pictet & Cie SA Makes New $519,000 Investment in CommVault Systems, Inc. (NASDAQ:CVLT)

Banque Pictet & Cie SA purchased a new stake in CommVault Systems, Inc. (NASDAQ:CVLT - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm purchased 3,289 shares of the software maker's stock, valued at approximately $519,000.

Other hedge funds have also modified their holdings of the company. Janney Montgomery Scott LLC acquired a new stake in shares of CommVault Systems in the 1st quarter valued at approximately $243,000. Asset Management One Co. Ltd. acquired a new stake in shares of CommVault Systems in the 1st quarter valued at approximately $1,229,000. Principal Financial Group Inc. raised its position in shares of CommVault Systems by 1.4% in the 1st quarter. Principal Financial Group Inc. now owns 122,042 shares of the software maker's stock valued at $19,253,000 after acquiring an additional 1,668 shares during the period. Yorktown Management & Research Co Inc acquired a new stake in shares of CommVault Systems in the 1st quarter valued at approximately $260,000. Finally, Virtu Financial LLC raised its holdings in CommVault Systems by 63.9% during the 4th quarter. Virtu Financial LLC now owns 8,243 shares of the software maker's stock worth $1,244,000 after buying an additional 3,214 shares during the period. 93.50% of the stock is currently owned by institutional investors and hedge funds.

CommVault Systems Stock Up 2.7%

Shares of NASDAQ:CVLT traded up $4.53 during midday trading on Monday, hitting $169.58. The stock had a trading volume of 396,015 shares, compared to its average volume of 435,333. CommVault Systems, Inc. has a 12 month low of $119.67 and a 12 month high of $192.01. The business's 50-day simple moving average is $177.91 and its 200-day simple moving average is $167.25. The company has a market cap of $7.55 billion, a P/E ratio of 100.34 and a beta of 0.73.

CommVault Systems (NASDAQ:CVLT - Get Free Report) last released its earnings results on Tuesday, April 29th. The software maker reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.10. CommVault Systems had a net margin of 7.64% and a return on equity of 32.31%. The business had revenue of $275.04 million during the quarter, compared to analysts' expectations of $262.52 million. During the same period last year, the business earned $0.79 earnings per share. The firm's revenue was up 23.2% on a year-over-year basis. As a group, equities analysts predict that CommVault Systems, Inc. will post 1.65 earnings per share for the current year.

Insider Activity at CommVault Systems

In related news, insider Gary Merrill sold 1,748 shares of the firm's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $174.91, for a total value of $305,742.68. Following the completion of the transaction, the insider directly owned 89,923 shares of the company's stock, valued at approximately $15,728,431.93. This trade represents a 1.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sanjay Mirchandani sold 1,709 shares of CommVault Systems stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $299,075.00. Following the transaction, the chief executive officer directly owned 469,648 shares of the company's stock, valued at approximately $82,188,400. This trade represents a 0.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,957 shares of company stock valued at $859,428. 1.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts have commented on the stock. Piper Sandler raised their target price on shares of CommVault Systems from $168.00 to $170.00 and gave the stock a "neutral" rating in a report on Monday. DA Davidson lifted their price objective on shares of CommVault Systems from $185.00 to $200.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Oppenheimer lifted their price objective on shares of CommVault Systems from $180.00 to $200.00 and gave the company an "outperform" rating in a report on Wednesday, April 30th. Wall Street Zen upgraded shares of CommVault Systems from a "hold" rating to a "buy" rating in a report on Thursday, May 1st. Finally, Wells Fargo & Company lifted their price objective 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. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, CommVault Systems currently has a consensus rating of "Moderate Buy" and an average price target of $186.14.

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.