Bank of New York Mellon Corp Sells 28,264 Shares of CommVault Systems, Inc. (NASDAQ:CVLT)

Bank of New York Mellon Corp trimmed its holdings in shares of CommVault Systems, Inc. (NASDAQ:CVLT - Free Report) by 7.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 362,287 shares of the software maker's stock after selling 28,264 shares during the period. Bank of New York Mellon Corp owned approximately 0.82% of CommVault Systems worth $57,154,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of CVLT. Atria Investments Inc grew its holdings in CommVault Systems by 10.0% during the fourth quarter. Atria Investments Inc now owns 2,950 shares of the software maker's stock worth $445,000 after acquiring an additional 268 shares during the period. Raymond James Financial Inc. acquired a new position in CommVault Systems during the fourth quarter worth about $2,815,000. PNC Financial Services Group Inc. grew its holdings in CommVault Systems by 4.0% during 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. AlphaQuest LLC grew its holdings in CommVault Systems by 69.1% during the fourth quarter. AlphaQuest LLC now owns 1,023 shares of the software maker's stock worth $154,000 after acquiring an additional 418 shares during the period. Finally, Daiwa Securities Group Inc. acquired a new position in CommVault Systems during the fourth quarter worth about $237,000. 93.50% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Nicola Adamo sold 1,500 shares of the stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $169.74, for a total value of $254,610.00. Following the completion of the sale, the director directly owned 16,178 shares of the company's stock, valued at approximately $2,746,053.72. This represents a 8.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Gary Merrill sold 1,748 shares of the stock in a transaction that occurred 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 sale, the insider directly owned 89,923 shares of the company's stock, valued at $15,728,431.93. This represents a 1.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,957 shares of company stock valued at $859,428 over the last 90 days. 1.00% of the stock is currently owned by company insiders.

CommVault Systems Stock Performance

Shares of CommVault Systems stock traded down $5.02 during trading on Friday, hitting $165.05. 334,338 shares of the stock traded hands, compared to its average volume of 435,491. The stock has a market cap of $7.35 billion, a P/E ratio of 97.66 and a beta of 0.73. CommVault Systems, Inc. has a twelve month low of $119.67 and a twelve month high of $192.01. The company has a fifty day moving average price of $177.91 and a two-hundred day moving average price of $167.18.

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

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on CVLT shares. 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. Royal Bank Of Canada lifted their target price on CommVault Systems from $175.00 to $185.00 and gave the stock a "sector perform" rating in a report on Wednesday, April 30th. Oppenheimer lifted their price target 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 dropped their price target on CommVault Systems from $154.00 to $147.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Finally, Guggenheim reissued a "neutral" rating on shares of CommVault Systems in a research note on Wednesday, April 23rd. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $182.86.

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.