Blair William & Co. IL Grows Stake in CommVault Systems, Inc. (NASDAQ:CVLT)

Blair William & Co. IL grew its holdings in CommVault Systems, Inc. (NASDAQ:CVLT - Free Report) by 128.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,625 shares of the software maker's stock after purchasing an additional 2,600 shares during the period. Blair William & Co. IL's holdings in CommVault Systems were worth $730,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of CVLT. Wells Fargo & Company MN lifted its stake in shares of CommVault Systems by 56.5% in the 4th quarter. Wells Fargo & Company MN now owns 32,998 shares of the software maker's stock valued at $4,980,000 after purchasing an additional 11,914 shares during the last quarter. Bank of Montreal Can raised its holdings in shares of CommVault Systems by 83.6% in the 4th quarter. Bank of Montreal Can now owns 10,304 shares of the software maker's stock valued at $1,555,000 after buying an additional 4,691 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of CommVault Systems in the 4th quarter valued at $2,815,000. Capital Fund Management S.A. purchased a new stake in shares of CommVault Systems in the 4th quarter valued at $1,709,000. Finally, Townsquare Capital LLC raised its holdings in shares of CommVault Systems by 14.4% in the 4th quarter. Townsquare Capital LLC now owns 43,185 shares of the software maker's stock valued at $6,517,000 after buying an additional 5,420 shares during the period. Institutional investors and hedge funds own 93.50% of the company's stock.

Insider Transactions at CommVault Systems

In other news, insider Gary Merrill sold 1,748 shares of the stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $174.91, for a total value of $305,742.68. Following the transaction, the insider owned 89,923 shares in the company, valued at approximately $15,728,431.93. This represents a 1.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Sanjay Mirchandani sold 1,709 shares of the stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $299,075.00. Following the completion of the transaction, the chief executive officer owned 469,648 shares in the company, 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. Corporate insiders own 1.00% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. DA Davidson boosted their price objective on CommVault Systems from $200.00 to $220.00 and gave the company a "buy" rating in a report on Wednesday, July 30th. Royal Bank Of Canada boosted their price objective on CommVault Systems from $185.00 to $217.00 and gave the company a "sector perform" rating in a report on Wednesday, July 30th. Guggenheim set a $220.00 price objective on CommVault Systems in a report on Tuesday, July 29th. Piper Sandler boosted their price objective on CommVault Systems from $168.00 to $170.00 and gave the company a "neutral" rating in a report on Monday, July 14th. Finally, Oppenheimer boosted their price objective on CommVault Systems from $180.00 to $200.00 and gave the company an "outperform" rating in a report on Wednesday, April 30th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $205.63.

CommVault Systems Stock Down 1.9%

NASDAQ CVLT traded down $3.57 during trading hours on Friday, hitting $179.78. 39,768 shares of the company were exchanged, compared to its average volume of 494,743. The company has a 50 day moving average of $177.98 and a two-hundred day moving average of $170.52. CommVault Systems, Inc. has a 52-week low of $128.07 and a 52-week high of $200.68. The firm has a market cap of $7.99 billion, a price-to-earnings ratio of 100.34 and a beta of 0.70.

CommVault Systems (NASDAQ:CVLT - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The software maker reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.04. CommVault Systems had a return on equity of 30.83% and a net margin of 7.70%. The company had revenue of $281.98 million for the quarter, compared to the consensus estimate of $267.83 million. The company's revenue for the quarter was up 26% on a year-over-year basis. On average, equities research analysts predict that CommVault Systems, Inc. will post 1.65 EPS for the current year.

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.