Emerald Advisers LLC Buys 11,049 Shares of CommVault Systems, Inc. (NASDAQ:CVLT)

Emerald Advisers LLC boosted its holdings in CommVault Systems, Inc. (NASDAQ:CVLT - Free Report) by 15.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 81,499 shares of the software maker's stock after buying an additional 11,049 shares during the period. Emerald Advisers LLC owned approximately 0.19% of CommVault Systems worth $12,857,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Janney Montgomery Scott LLC bought a new position in CommVault Systems in the 1st quarter valued at $243,000. Asset Management One Co. Ltd. bought a new stake in CommVault Systems in the first quarter worth $1,229,000. Yorktown Management & Research Co Inc bought a new stake in CommVault Systems in the first quarter worth $260,000. Virtu Financial LLC lifted its stake in CommVault Systems by 63.9% in the fourth quarter. Virtu Financial LLC now owns 8,243 shares of the software maker's stock worth $1,244,000 after purchasing an additional 3,214 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its position in shares of CommVault Systems by 0.8% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 632,870 shares of the software maker's stock valued at $95,506,000 after acquiring an additional 4,957 shares during the period. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CVLT. Piper Sandler decreased their price objective on shares of CommVault Systems from $154.00 to $147.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. KeyCorp reduced their price target on shares of CommVault Systems from $195.00 to $185.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Wells Fargo & Company upped their price objective on shares of CommVault Systems from $180.00 to $190.00 and gave the stock an "overweight" rating in a report on Wednesday, April 30th. Royal Bank Of Canada upped their target price on shares of CommVault Systems from $175.00 to $185.00 and gave the stock a "sector perform" rating in a research note on Wednesday, April 30th. Finally, Wall Street Zen upgraded shares of CommVault Systems from a "hold" rating to a "buy" rating in a research note on Thursday, May 1st. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $182.86.

CommVault Systems Stock Down 3.0%

CVLT traded down $5.02 during trading on Friday, hitting $165.05. The company's stock had a trading volume of 334,338 shares, compared to its average volume of 435,491. CommVault Systems, Inc. has a one year low of $119.67 and a one year high of $192.01. The firm has a market cap of $7.35 billion, a PE ratio of 97.66 and a beta of 0.73. The business's 50 day simple moving average is $177.91 and its 200-day simple moving average is $167.18.

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, beating the consensus estimate of $0.93 by $0.10. The firm had revenue of $275.04 million for the quarter, compared to the consensus estimate of $262.52 million. CommVault Systems had a net margin of 7.64% and a return on equity of 32.31%. The company's revenue was up 23.2% on a year-over-year basis. During the same period last year, the firm earned $0.79 EPS. Equities research analysts expect that CommVault Systems, Inc. will post 1.65 EPS for the current fiscal year.

Insider Activity at CommVault Systems

In other news, insider Gary Merrill sold 1,748 shares of the firm's stock in a transaction dated 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 sale, the insider owned 89,923 shares in the company, valued at approximately $15,728,431.93. This trade represents a 1.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Nicola Adamo sold 1,500 shares of the firm's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $169.74, for a total transaction of $254,610.00. Following the completion of the sale, the director owned 16,178 shares of the company's stock, valued at $2,746,053.72. This trade represents a 8.49% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,957 shares of company stock valued at $859,428. Corporate insiders own 1.00% of the company's stock.

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.