Prescott Group Capital Management L.L.C. Acquires 5,000 Shares of CommVault Systems, Inc. (NASDAQ:CVLT)

Key Points

• Prescott Group Capital Management increased its holdings in CommVault Systems by 50%, owning 15,000 shares worth approximately $2.37 million after a recent purchase of 5,000 additional shares.
• CommVault Systems reported earnings of $1.03 per share for the last quarter, exceeding analysts' expectations of $0.93, and saw a revenue increase of 23.2% year-over-year.
• Several institutional investors, including Vanguard Group and Invesco Ltd., raised their stakes in CommVault Systems, which is currently heavily owned by institutional investors at 93.5%.

Prescott Group Capital Management L.L.C. increased its stake in CommVault Systems, Inc. (NASDAQ:CVLT - Free Report) by 50.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,000 shares of the software maker's stock after buying an additional 5,000 shares during the period. Prescott Group Capital Management L.L.C.'s holdings in CommVault Systems were worth $2,366,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Cetera Investment Advisers raised its stake in CommVault Systems by 27.7% in the first quarter. Cetera Investment Advisers now owns 2,192 shares of the software maker's stock worth $346,000 after buying an additional 476 shares in the last quarter. Avantax Advisory Services Inc. purchased a new stake in CommVault Systems in the first quarter worth about $206,000. Legato Capital Management LLC grew its holdings in CommVault Systems by 17.7% in the first quarter. Legato Capital Management LLC now owns 8,530 shares of the software maker's stock worth $1,346,000 after purchasing an additional 1,285 shares during the period. Allianz Asset Management GmbH grew its holdings in CommVault Systems by 25.7% in the first quarter. Allianz Asset Management GmbH now owns 448,860 shares of the software maker's stock worth $70,812,000 after purchasing an additional 91,739 shares during the period. Finally, Los Angeles Capital Management LLC grew its holdings in CommVault Systems by 9.6% in the first quarter. Los Angeles Capital Management LLC now owns 39,812 shares of the software maker's stock worth $6,281,000 after purchasing an additional 3,490 shares during the period. 93.50% of the stock is owned by institutional investors.

Insider Activity at CommVault Systems

In related news, CEO Sanjay Mirchandani sold 1,709 shares of CommVault Systems stock in a transaction dated 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 owned 469,648 shares in the company, valued at $82,188,400. This trade represents a 0.36% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Nicola Adamo sold 1,500 shares of CommVault Systems stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $169.74, for a total transaction of $254,610.00. Following the sale, the director owned 16,178 shares of the company's stock, valued at $2,746,053.72. The trade was a 8.49% decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,957 shares of company stock worth $859,428 in the last 90 days. 1.00% of the stock is owned by corporate insiders.

CommVault Systems Stock Up 18.9%

CVLT traded up $30.96 on Tuesday, reaching $194.39. 710,247 shares of the company traded hands, compared to its average volume of 485,930. CommVault Systems, Inc. has a one year low of $127.35 and a one year high of $195.22. The firm has a fifty day simple moving average of $175.97 and a two-hundred day simple moving average of $168.25. The company has a market cap of $8.66 billion, a P/E ratio of 115.40 and a beta of 0.73.

CommVault Systems (NASDAQ:CVLT - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The software maker reported $0.57 earnings per share for the quarter, missing analysts' consensus estimates of $0.97 by ($0.40). CommVault Systems had a net margin of 7.64% and a return on equity of 32.31%. On average, equities analysts forecast that CommVault Systems, Inc. will post 1.65 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Guggenheim upgraded shares of CommVault Systems from a "neutral" rating to a "buy" rating and set a $210.00 price objective on the stock in a report on Wednesday, July 16th. DA Davidson cut their price target on shares of CommVault Systems from $215.00 to $200.00 and set a "buy" rating on the stock in a report on Wednesday, July 16th. Piper Sandler increased their price target on shares of CommVault Systems from $168.00 to $170.00 and gave the company a "neutral" rating in a report on Monday, July 14th. Oppenheimer increased their price target 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. Finally, Wells Fargo & Company increased their price target 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. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $189.13.

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.