Congress Asset Management Co. Boosts Stock Holdings in Commvault Systems, Inc. (NASDAQ:CVLT)

Congress Asset Management Co. increased its position in shares of Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 7.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 560,442 shares of the software maker's stock after purchasing an additional 40,064 shares during the quarter. Congress Asset Management Co. owned 1.27% of Commvault Systems worth $88,415,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Quarry LP increased its position 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 purchasing an additional 151 shares in the last quarter. Whipplewood Advisors LLC increased its position in Commvault Systems by 584.0% during the 1st quarter. Whipplewood Advisors LLC now owns 171 shares of the software maker's stock worth $27,000 after purchasing an additional 146 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its position in Commvault Systems by 208.3% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 185 shares of the software maker's stock worth $29,000 after purchasing an additional 125 shares in the last quarter. NBC Securities Inc. acquired a new position in Commvault Systems during the 1st quarter worth approximately $43,000. Finally, Versant Capital Management Inc increased its position in Commvault Systems by 183.7% during the 1st quarter. Versant Capital Management Inc now owns 295 shares of the software maker's stock worth $47,000 after purchasing an additional 191 shares in the last quarter. Institutional investors own 93.50% of the company's stock.

Insider Activity at Commvault Systems

In related news, Director Nicola Adamo sold 1,500 shares of Commvault Systems stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $169.74, for a total value of $254,610.00. Following the completion of the sale, the director now 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 position. The transaction was disclosed in a document filed with the SEC, 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 shares were sold at an average price of $175.00, for a total transaction of $299,075.00. Following the completion of the sale, the chief executive officer now directly owns 469,648 shares of the company's stock, valued at approximately $82,188,400. The trade was a 0.36% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,957 shares of company stock valued at $859,428. 1.00% of the stock is owned by company insiders.

Commvault Systems Stock Performance

Shares of CVLT stock traded up $1.40 during trading hours on Friday, hitting $188.57. 291,810 shares of the company were exchanged, compared to its average volume of 424,648. The firm has a market cap of $8.32 billion, a P/E ratio of 49.49 and a beta of 0.75. Commvault Systems, Inc. has a fifty-two week low of $112.58 and a fifty-two week high of $190.11. The company has a 50 day simple moving average of $166.78 and a two-hundred day simple moving average of $165.76.

Commvault Systems (NASDAQ:CVLT - Get Free Report) last announced its quarterly earnings data 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 the consensus estimate of $262.52 million. Commvault Systems had a net margin of 18.14% and a return on equity of 28.69%. The company's quarterly revenue was up 23.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.79 EPS. As a group, sell-side analysts expect that Commvault Systems, Inc. will post 1.65 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports 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 research report on Tuesday, April 8th. 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 restated a "neutral" rating on shares of Commvault Systems in a report on Wednesday, April 23rd. Wells Fargo & Company lifted their target price on Commvault Systems from $180.00 to $190.00 and gave the stock an "overweight" rating in a report on Wednesday, April 30th. Finally, Oppenheimer lifted their target price on Commvault Systems from $180.00 to $200.00 and gave the stock an "outperform" 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.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $175.25.

Commvault Systems Company 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.