Beacon Harbor Wealth Advisors Inc. Makes New Investment in CommVault Systems, Inc. (NASDAQ:CVLT)

Key Points

• Beacon Harbor Wealth Advisors Inc. invested approximately $5.88 million in CommVault Systems by acquiring 37,276 shares, representing 0.08% of the company's total shares.
• Several hedge funds significantly increased their holdings in CommVault Systems, with Quarry LP raising its stake by 888.2% last quarter.
• Analysts have raised their price targets for CommVault Systems, with DA Davidson and Wells Fargo increasing their target to $220.00, signaling strong market confidence in the stock's performance.

Beacon Harbor Wealth Advisors Inc. acquired a new stake in CommVault Systems, Inc. (NASDAQ:CVLT - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 37,276 shares of the software maker's stock, valued at approximately $5,881,000. Beacon Harbor Wealth Advisors Inc. owned 0.08% of CommVault Systems at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of CVLT. Deutsche Bank AG grew its holdings in shares of CommVault Systems by 40.3% during the 1st quarter. Deutsche Bank AG now owns 111,348 shares of the software maker's stock valued at $17,566,000 after purchasing an additional 31,968 shares during the last quarter. New Age Alpha Advisors LLC boosted its stake in shares of CommVault Systems by 20.7% in the 1st quarter. New Age Alpha Advisors LLC now owns 11,090 shares of the software maker's stock valued at $1,750,000 after purchasing an additional 1,901 shares during the last quarter. Blair William & Co. IL boosted its stake in shares of CommVault Systems by 128.4% in the 1st quarter. Blair William & Co. IL now owns 4,625 shares of the software maker's stock valued at $730,000 after purchasing an additional 2,600 shares during the last quarter. Banco Santander S.A. boosted its stake in shares of CommVault Systems by 26.6% in the 1st quarter. Banco Santander S.A. now owns 6,988 shares of the software maker's stock valued at $1,102,000 after purchasing an additional 1,470 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in shares of CommVault Systems by 37.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,361 shares of the software maker's stock valued at $530,000 after acquiring an additional 922 shares during the period. Institutional investors own 93.50% of the company's stock.

Insider Activity

In other CommVault Systems news, insider Gary Merrill sold 1,748 shares of the stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $174.91, for a total transaction of $305,742.68. Following the completion of the transaction, the insider owned 89,923 shares in the company, valued at $15,728,431.93. This trade represents a 1.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Sanjay Mirchandani sold 1,709 shares of the stock in a transaction dated 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 owned 469,648 shares of the company's stock, valued at $82,188,400. This represents a 0.36% decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on CVLT shares. Wall Street Zen upgraded shares of CommVault Systems from a "hold" rating to a "buy" rating in a research report on Thursday, May 1st. Guggenheim set a $220.00 target price on shares of CommVault Systems in a research report on Tuesday, July 29th. DA Davidson upped their price objective on shares of CommVault Systems from $200.00 to $220.00 and gave the stock a "buy" rating in a report on Wednesday, July 30th. Oppenheimer upped their price objective on shares of CommVault Systems from $180.00 to $200.00 and gave the stock an "outperform" rating in a report on Wednesday, April 30th. Finally, Royal Bank Of Canada upped their price objective on shares of CommVault Systems from $185.00 to $217.00 and gave the stock a "sector perform" rating in a report on Wednesday, July 30th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $205.63.

CommVault Systems Stock Down 1.2%

CVLT traded down $2.24 during trading on Friday, hitting $183.53. 311,238 shares of the company traded hands, compared to its average volume of 535,481. The firm has a market cap of $8.16 billion, a P/E ratio of 101.96 and a beta of 0.70. The stock's fifty day moving average is $177.71 and its 200 day moving average is $169.76. CommVault Systems, Inc. has a one year low of $128.07 and a one year high of $200.68.

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.