Commvault Systems, Inc. (NASDAQ:CVLT) Stock Holdings Lessened by Tealwood Asset Management Inc.

Tealwood Asset Management Inc. reduced its holdings in Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 31.4% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 7,716 shares of the software maker's stock after selling 3,528 shares during the quarter. Tealwood Asset Management Inc.'s holdings in Commvault Systems were worth $1,217,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of CVLT. Invesco Ltd. increased its holdings in shares of Commvault Systems by 57.7% in the 4th quarter. Invesco Ltd. now owns 1,660,108 shares of the software maker's stock worth $250,527,000 after acquiring an additional 607,643 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in shares of Commvault Systems by 604.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 647,525 shares of the software maker's stock worth $98,479,000 after acquiring an additional 555,656 shares during the period. Norges Bank acquired a new position in Commvault Systems during the 4th quarter valued at about $79,619,000. Polar Capital Holdings Plc increased its stake in Commvault Systems by 182.5% during the 4th quarter. Polar Capital Holdings Plc now owns 362,958 shares of the software maker's stock valued at $54,774,000 after buying an additional 234,477 shares during the period. Finally, GAMMA Investing LLC increased its stake in Commvault Systems by 20,945.1% during the 1st quarter. GAMMA Investing LLC now owns 211,714 shares of the software maker's stock valued at $33,400,000 after buying an additional 210,708 shares during the period. 93.50% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Guggenheim reissued a "neutral" rating on shares of Commvault Systems in a research note on Wednesday, April 23rd. Wall Street Zen upgraded shares of Commvault Systems from a "hold" rating to a "buy" rating in a report on Thursday, May 1st. DA Davidson raised their target price on shares of Commvault Systems from $185.00 to $200.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Piper Sandler decreased their target price on shares of Commvault Systems from $154.00 to $147.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. Finally, Oppenheimer raised their target price on shares of Commvault Systems from $180.00 to $200.00 and gave the stock an "outperform" rating in a report on Wednesday, April 30th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $175.25.

Commvault Systems Trading Up 0.7%

Shares of CVLT stock opened at $188.57 on Friday. Commvault Systems, Inc. has a 1 year low of $112.58 and a 1 year high of $190.11. The firm's fifty day simple moving average is $166.78 and its 200 day simple moving average is $165.76. The firm has a market capitalization of $8.32 billion, a P/E ratio of 49.49 and a beta of 0.75.

Commvault Systems (NASDAQ:CVLT - Get Free Report) last announced its earnings results on Tuesday, April 29th. The software maker reported $1.03 earnings per share (EPS) for the quarter, topping 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 business had revenue of $275.04 million for the quarter, compared to analyst estimates of $262.52 million. During the same quarter in the previous year, the firm posted $0.79 earnings per share. Commvault Systems's revenue was up 23.2% compared to the same quarter last year. Equities research analysts anticipate that Commvault Systems, Inc. will post 1.65 EPS for the current fiscal year.

Insiders Place Their Bets

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 transaction of $305,742.68. Following the sale, the insider now owns 89,923 shares in the company, valued at $15,728,431.93. The trade was a 1.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Sanjay Mirchandani sold 1,709 shares of the business's stock in a transaction on 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 now owns 469,648 shares in the company, valued at $82,188,400. This represents a 0.36% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,957 shares of company stock worth $859,428 over the last 90 days. 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.

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