CommVault Systems, Inc. (NASDAQ:CVLT) Shares Acquired by Federated Hermes Inc.

Key Points

• Federated Hermes Inc. increased its ownership in CommVault Systems by 3.6%, acquiring an additional 1,606 shares to own a total of 46,551 shares, valued at approximately $7.34 million.
• Several institutional investors, including Quarry LP, SBI Securities Co. Ltd., and MassMutual Private Wealth, significantly raised their positions in CommVault Systems, reflecting growing interest as hedge funds and other institutions now own 93.50% of the company's stock.
• Analysts are optimistic about CommVault's stock performance, with multiple firms raising their price targets, leading to an average target price of $205.63 and a general rating of "Moderate Buy."

Federated Hermes Inc. raised its position in CommVault Systems, Inc. (NASDAQ:CVLT - Free Report) by 3.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,551 shares of the software maker's stock after purchasing an additional 1,606 shares during the quarter. Federated Hermes Inc. owned 0.11% of CommVault Systems worth $7,344,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. JSF Financial LLC grew its stake in shares of CommVault Systems by 39.6% in the first quarter. JSF Financial LLC now owns 6,837 shares of the software maker's stock valued at $1,079,000 after buying an additional 1,941 shares in the last quarter. Picton Mahoney Asset Management grew its stake in CommVault Systems by 139,562.5% during the 1st quarter. Picton Mahoney Asset Management now owns 11,173 shares of the software maker's stock valued at $1,765,000 after purchasing an additional 11,165 shares in the last quarter. Sheaff Brock Investment Advisors LLC acquired a new stake in CommVault Systems during the 1st quarter valued at approximately $1,879,000. Prescott Group Capital Management L.L.C. grew its stake in CommVault Systems by 50.0% during the 1st quarter. Prescott Group Capital Management L.L.C. now owns 15,000 shares of the software maker's stock valued at $2,366,000 after purchasing an additional 5,000 shares in the last quarter. Finally, Cetera Investment Advisers grew its stake in CommVault Systems by 27.7% during the 1st quarter. Cetera Investment Advisers now owns 2,192 shares of the software maker's stock valued at $346,000 after purchasing an additional 476 shares in the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at CommVault Systems

In other CommVault Systems news, 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 transaction of $305,742.68. Following the sale, the insider owned 89,923 shares of the company's stock, valued at $15,728,431.93. The trade was a 1.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sanjay Mirchandani sold 1,709 shares of CommVault Systems stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $299,075.00. Following the sale, the chief executive officer directly owned 469,648 shares in the company, valued at $82,188,400. The trade was a 0.36% decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CVLT. Wells Fargo & Company raised their price objective on CommVault Systems from $190.00 to $220.00 and gave the company an "overweight" rating in a research note on Wednesday, July 30th. Guggenheim set a $220.00 target price on CommVault Systems in a report on Tuesday, July 29th. KeyCorp increased their target price on CommVault Systems from $195.00 to $225.00 and gave the stock an "overweight" rating in a report on Wednesday, July 30th. Oppenheimer increased their target price on CommVault Systems from $180.00 to $200.00 and gave the stock an "outperform" rating in a report on Wednesday, April 30th. Finally, Wall Street Zen raised CommVault Systems from a "hold" rating to a "buy" rating in a report on Thursday, May 1st. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $205.63.

CommVault Systems Stock Up 1.3%

CommVault Systems stock traded up $2.31 during mid-day trading on Wednesday, hitting $185.56. 153,845 shares of the company's stock traded hands, compared to its average volume of 495,832. The firm has a 50 day moving average price of $177.35 and a 200 day moving average price of $169.34. The company has a market cap of $8.25 billion, a PE ratio of 102.85 and a beta of 0.70. CommVault Systems, Inc. has a one year low of $128.07 and a one year high of $200.68.

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.