Cwm LLC Sells 1,649 Shares of CommVault Systems, Inc. (NASDAQ:CVLT)

Cwm LLC lessened its holdings in shares of CommVault Systems, Inc. (NASDAQ:CVLT - Free Report) by 17.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,962 shares of the software maker's stock after selling 1,649 shares during the quarter. Cwm LLC's holdings in CommVault Systems were worth $1,256,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CVLT. Janney Montgomery Scott LLC purchased a new stake in shares of CommVault Systems during the 1st quarter valued at approximately $243,000. Asset Management One Co. Ltd. bought a new stake in CommVault Systems during the 1st quarter valued at $1,229,000. Principal Financial Group Inc. lifted its position in shares of CommVault Systems by 1.4% during the first quarter. Principal Financial Group Inc. now owns 122,042 shares of the software maker's stock worth $19,253,000 after acquiring an additional 1,668 shares in the last quarter. Yorktown Management & Research Co Inc bought a new position in shares of CommVault Systems in the first quarter worth $260,000. Finally, Virtu Financial LLC grew its position in shares of CommVault Systems by 63.9% in the fourth quarter. Virtu Financial LLC now owns 8,243 shares of the software maker's stock valued at $1,244,000 after purchasing an additional 3,214 shares in the last quarter. Institutional investors own 93.50% of the company's stock.

CommVault Systems Price Performance

Shares of NASDAQ:CVLT opened at $172.07 on Monday. The company's fifty day moving average price is $177.54 and its 200-day moving average price is $167.87. The firm has a market capitalization of $7.66 billion, a price-to-earnings ratio of 101.82 and a beta of 0.73. CommVault Systems, Inc. has a one year low of $120.99 and a one year high of $192.01.

CommVault Systems (NASDAQ:CVLT - Get Free Report) last released its earnings results on Tuesday, April 29th. The software maker reported $1.03 EPS for the quarter, beating 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 business had revenue of $275.04 million for the quarter, compared to analysts' expectations of $262.52 million. During the same quarter in the prior year, the firm earned $0.79 earnings per share. The firm's revenue was up 23.2% on a year-over-year basis. As a group, equities research analysts expect that CommVault Systems, Inc. will post 1.65 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Wall Street Zen raised CommVault Systems from a "hold" rating to a "buy" rating in a report on Thursday, May 1st. KeyCorp lowered their price target on shares of CommVault Systems from $195.00 to $185.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Wells Fargo & Company boosted their price objective on shares of CommVault Systems from $180.00 to $190.00 and gave the company an "overweight" rating in a research note on Wednesday, April 30th. Royal Bank Of Canada upped their target price on shares of CommVault Systems from $175.00 to $185.00 and gave the stock a "sector perform" rating in a report on Wednesday, April 30th. Finally, Piper Sandler raised their price target on shares of CommVault Systems from $168.00 to $170.00 and gave the company a "neutral" rating in a report on Monday, July 14th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $189.13.

Insider Activity

In other CommVault Systems news, Director Nicola Adamo sold 1,500 shares of CommVault Systems stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $169.74, for a total transaction of $254,610.00. Following the transaction, the director directly owned 16,178 shares of the company's stock, valued at approximately $2,746,053.72. This trade represents a 8.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Sanjay Mirchandani sold 1,709 shares of the business's stock in a transaction that occurred 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 completion of the sale, the chief executive officer owned 469,648 shares of the company's stock, valued at approximately $82,188,400. The trade was a 0.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,957 shares of company stock worth $859,428. 1.00% of the stock is currently owned by insiders.

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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