Picton Mahoney Asset Management Boosts Position in CommVault Systems, Inc. (NASDAQ:CVLT)

Picton Mahoney Asset Management raised its stake in CommVault Systems, Inc. (NASDAQ:CVLT - Free Report) by 139,562.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,173 shares of the software maker's stock after buying an additional 11,165 shares during the quarter. Picton Mahoney Asset Management's holdings in CommVault Systems were worth $1,765,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Benjamin Edwards Inc. increased its holdings in shares of CommVault Systems by 3.3% in the fourth quarter. Benjamin Edwards Inc. now owns 1,803 shares of the software maker's stock worth $272,000 after acquiring an additional 58 shares in the last quarter. Hancock Whitney Corp increased its position in shares of CommVault Systems by 1.0% during the 4th quarter. Hancock Whitney Corp now owns 5,781 shares of the software maker's stock worth $872,000 after purchasing an additional 60 shares during the last quarter. NorthCrest Asset Manangement LLC increased its position in shares of CommVault Systems by 1.3% during the 1st quarter. NorthCrest Asset Manangement LLC now owns 5,753 shares of the software maker's stock worth $908,000 after purchasing an additional 72 shares during the last quarter. SBI Securities Co. Ltd. increased its holdings in shares of CommVault Systems by 101.3% during the 1st quarter. SBI Securities Co. Ltd. now owns 159 shares of the software maker's stock worth $25,000 after acquiring an additional 80 shares during the last quarter. Finally, Johnson Investment Counsel Inc. increased its holdings in shares of CommVault Systems by 6.7% during the 1st quarter. Johnson Investment Counsel Inc. now owns 1,451 shares of the software maker's stock worth $229,000 after acquiring an additional 91 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company's stock.

Insiders Place Their Bets

In related news, CEO Sanjay Mirchandani sold 1,709 shares of CommVault Systems stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $299,075.00. Following the sale, the chief executive officer directly owned 469,648 shares in the company, valued at approximately $82,188,400. This trade represents a 0.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Gary Merrill sold 1,748 shares of CommVault Systems stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $174.91, for a total value of $305,742.68. Following the sale, the insider owned 89,923 shares in the company, valued at $15,728,431.93. This trade represents a 1.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.00% of the company's stock.

CommVault Systems Price Performance

Shares of CVLT stock traded down $10.22 during trading hours on Friday, reaching $179.73. The company had a trading volume of 515,257 shares, compared to its average volume of 501,117. CommVault Systems, Inc. has a 12 month low of $127.35 and a 12 month high of $200.68. The business has a fifty day simple moving average of $177.02 and a 200-day simple moving average of $168.97. The company has a market cap of $8.00 billion, a price-to-earnings ratio of 99.85 and a beta of 0.73.

CommVault Systems (NASDAQ:CVLT - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The software maker reported $1.03 EPS for the quarter, topping analysts' consensus estimates of $0.93 by $0.10. The business had revenue of $275.04 million for the quarter, compared to analyst estimates of $262.52 million. CommVault Systems had a return on equity of 30.83% and a net margin of 7.70%. CommVault Systems's quarterly revenue was up 23.2% compared to the same quarter last year. During the same period last year, the company posted $0.79 earnings per share. On average, equities research analysts expect that CommVault Systems, Inc. will post 1.65 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have commented on CVLT. Royal Bank Of Canada upped 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. KeyCorp upped their price objective on CommVault Systems from $195.00 to $225.00 and gave the stock an "overweight" rating in a research report on Wednesday. Guggenheim set a $220.00 price objective on CommVault Systems in a research report on Tuesday. Oppenheimer increased their target price on CommVault Systems from $180.00 to $200.00 and gave the company an "outperform" rating in a research report on Wednesday, April 30th. Finally, Wells Fargo & Company increased their price target on CommVault Systems from $190.00 to $220.00 and gave the company an "overweight" rating in a research note on Wednesday. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, CommVault Systems has a consensus rating of "Moderate Buy" and a consensus target price of $205.63.

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.