Rhumbline Advisers Buys 2,052 Shares of Commvault Systems, Inc. (NASDAQ:CVLT)

Rhumbline Advisers boosted its position in shares of Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 1.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 139,664 shares of the software maker's stock after purchasing an additional 2,052 shares during the quarter. Rhumbline Advisers owned about 0.32% of Commvault Systems worth $22,033,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Benjamin Edwards Inc. raised its holdings in shares of Commvault Systems by 3.3% during the fourth quarter. Benjamin Edwards Inc. now owns 1,803 shares of the software maker's stock valued at $272,000 after purchasing an additional 58 shares during the last quarter. Hancock Whitney Corp grew its position in Commvault Systems by 1.0% during the fourth quarter. Hancock Whitney Corp now owns 5,781 shares of the software maker's stock valued at $872,000 after buying an additional 60 shares during the period. CIBC Asset Management Inc increased its holdings in Commvault Systems by 5.6% during the fourth quarter. CIBC Asset Management Inc now owns 1,413 shares of the software maker's stock valued at $213,000 after buying an additional 75 shares during the last quarter. PNC Financial Services Group Inc. raised its position in Commvault Systems by 4.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,439 shares of the software maker's stock worth $368,000 after acquiring an additional 93 shares during the period. Finally, Mariner LLC boosted its stake in shares of Commvault Systems by 3.7% during the 4th quarter. Mariner LLC now owns 3,310 shares of the software maker's stock worth $500,000 after acquiring an additional 118 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Wells Fargo & Company upped their price objective on Commvault Systems from $180.00 to $190.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 30th. Wall Street Zen upgraded Commvault Systems from a "hold" rating to a "buy" rating in a research report on Thursday, May 1st. Oppenheimer raised their price objective on Commvault Systems from $180.00 to $200.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 30th. Piper Sandler lowered their price objective on Commvault Systems from $154.00 to $147.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. Finally, DA Davidson boosted their price objective on Commvault Systems from $185.00 to $200.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Commvault Systems currently has a consensus rating of "Moderate Buy" and a consensus target price of $175.25.

Insider Buying and Selling

In other Commvault Systems news, insider Gary Merrill sold 1,748 shares of Commvault Systems stock in a transaction on 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 transaction, the insider now directly owns 89,923 shares of the company's stock, valued at $15,728,431.93. This trade represents a 1.91% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Sanjay Mirchandani sold 1,709 shares of the company's 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 sale, the chief executive officer now owns 469,648 shares in the company, valued at $82,188,400. This represents a 0.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,957 shares of company stock worth $859,428. Corporate insiders own 1.00% of the company's stock.

Commvault Systems Stock Down 2.0%

CVLT stock traded down $3.83 during midday trading on Tuesday, hitting $187.16. The company's stock had a trading volume of 494,283 shares, compared to its average volume of 424,999. Commvault Systems, Inc. has a 12 month low of $112.58 and a 12 month high of $191.76. The company has a 50 day moving average of $167.95 and a two-hundred day moving average of $165.95. The firm has a market capitalization of $8.26 billion, a price-to-earnings ratio of 49.12 and a beta of 0.75.

Commvault Systems (NASDAQ:CVLT - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The software maker reported $1.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.93 by $0.10. Commvault Systems had a net margin of 18.14% and a return on equity of 28.69%. The company had revenue of $275.04 million for the quarter, compared to the consensus estimate of $262.52 million. During the same period in the previous year, the firm posted $0.79 EPS. Commvault Systems's revenue for the quarter was up 23.2% compared to the same quarter last year. On average, analysts anticipate that Commvault Systems, Inc. will post 1.65 earnings per share for the current fiscal year.

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.