CWA Asset Management Group LLC Has $1.57 Million Position in CommVault Systems, Inc. (NASDAQ:CVLT)

CWA Asset Management Group LLC grew its stake in shares of CommVault Systems, Inc. (NASDAQ:CVLT - Free Report) by 24.2% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,930 shares of the software maker's stock after purchasing an additional 1,936 shares during the quarter. CWA Asset Management Group LLC's holdings in CommVault Systems were worth $1,567,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Quarry LP boosted its stake in shares of CommVault Systems by 888.2% during the 4th quarter. Quarry LP now owns 168 shares of the software maker's stock worth $25,000 after acquiring an additional 151 shares during the period. Whipplewood Advisors LLC boosted its stake in shares of CommVault Systems by 584.0% during the 1st quarter. Whipplewood Advisors LLC now owns 171 shares of the software maker's stock worth $27,000 after acquiring an additional 146 shares during the period. MassMutual Private Wealth & Trust FSB boosted its stake in shares of CommVault Systems by 208.3% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 185 shares of the software maker's stock worth $29,000 after acquiring an additional 125 shares during the period. NBC Securities Inc. bought a new position in shares of CommVault Systems during the 1st quarter worth approximately $43,000. Finally, Versant Capital Management Inc boosted its stake in shares of CommVault Systems by 183.7% during the 1st quarter. Versant Capital Management Inc now owns 295 shares of the software maker's stock worth $47,000 after acquiring an additional 191 shares during the period. Institutional investors and hedge funds own 93.50% of the company's stock.

Insider Transactions at CommVault Systems

In other CommVault Systems news, CEO Sanjay Mirchandani sold 1,709 shares of the company's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $299,075.00. Following the completion of the transaction, the chief executive officer now owns 469,648 shares of the company's stock, valued at $82,188,400. This represents a 0.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Gary Merrill sold 1,748 shares of the company's stock in a transaction dated Thursday, May 22nd. The stock was 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 approximately $15,728,431.93. The trade was a 1.91% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,957 shares of company stock valued at $859,428. Corporate insiders own 1.00% of the company's stock.

CommVault Systems Trading Down 5.4%

NASDAQ CVLT traded down $9.72 during midday trading on Friday, hitting $170.45. The company had a trading volume of 1,168,412 shares, compared to its average volume of 429,428. The company has a market capitalization of $7.52 billion, a PE ratio of 100.86 and a beta of 0.75. The firm has a 50-day moving average price of $173.27 and a 200-day moving average price of $166.57. CommVault Systems, Inc. has a twelve month low of $117.94 and a twelve month high of $192.01.

CommVault Systems (NASDAQ:CVLT - Get Free Report) last posted 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. CommVault Systems had a return on equity of 32.31% and a net margin of 7.64%. The company had revenue of $275.04 million during the quarter, compared to analysts' expectations of $262.52 million. During the same quarter in the previous year, the firm earned $0.79 EPS. CommVault Systems's revenue was up 23.2% on a year-over-year basis. On average, equities analysts anticipate that CommVault Systems, Inc. will post 1.65 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CVLT. Piper Sandler reduced their price target on CommVault Systems from $154.00 to $147.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. Wall Street Zen upgraded CommVault Systems from a "hold" rating to a "buy" rating in a research note on Thursday, May 1st. Wells Fargo & Company boosted their price target on CommVault Systems from $180.00 to $190.00 and gave the company an "overweight" rating in a research note on Wednesday, April 30th. Oppenheimer boosted their price target on CommVault Systems from $180.00 to $200.00 and gave the company an "outperform" rating in a research note on Wednesday, April 30th. Finally, KeyCorp reduced their price target on CommVault Systems from $195.00 to $185.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. Four 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.com, CommVault Systems currently has a consensus rating of "Moderate Buy" and a consensus target price of $175.25.

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.