GAMMA Investing LLC Acquires 210,708 Shares of Commvault Systems, Inc. (NASDAQ:CVLT)

GAMMA Investing LLC boosted its holdings in Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 20,945.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 211,714 shares of the software maker's stock after purchasing an additional 210,708 shares during the period. GAMMA Investing LLC owned about 0.48% of Commvault Systems worth $33,400,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Blue Trust Inc. grew its position in shares of Commvault Systems by 38,400.0% in the 4th quarter. Blue Trust Inc. now owns 770 shares of the software maker's stock valued at $118,000 after acquiring an additional 768 shares during the period. KBC Group NV grew its position in shares of Commvault Systems by 60.4% in the 4th quarter. KBC Group NV now owns 1,816 shares of the software maker's stock valued at $274,000 after acquiring an additional 684 shares during the period. Jennison Associates LLC grew its position in shares of Commvault Systems by 12.7% in the 4th quarter. Jennison Associates LLC now owns 8,745 shares of the software maker's stock valued at $1,320,000 after acquiring an additional 984 shares during the period. Alliance Wealth Advisors LLC UT lifted its stake in shares of Commvault Systems by 8.4% during the 4th quarter. Alliance Wealth Advisors LLC UT now owns 4,551 shares of the software maker's stock worth $687,000 after buying an additional 352 shares during the last quarter. Finally, Strategic Financial Concepts LLC acquired a new stake in shares of Commvault Systems during the 4th quarter worth about $6,901,000. Institutional investors own 93.50% of the company's stock.

Insider Activity at Commvault Systems

In related news, insider Gary Merrill sold 1,748 shares of Commvault Systems stock in a transaction that occurred 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 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 sale, the director now directly owns 16,178 shares in the company, valued at $2,746,053.72. This trade represents a 8.49% 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 valued at $859,428. 1.00% of the stock is owned by insiders.

Commvault Systems Trading Up 2.8%

CVLT stock traded up $5.02 during mid-day trading on Thursday, hitting $187.17. The stock had a trading volume of 564,503 shares, compared to its average volume of 427,255. Commvault Systems, Inc. has a 52 week low of $109.08 and a 52 week high of $190.11. The firm has a market capitalization of $8.26 billion, a P/E ratio of 49.13 and a beta of 0.71. The firm has a fifty day simple moving average of $165.27 and a 200 day simple moving average of $165.36.

Commvault Systems (NASDAQ:CVLT - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The software maker reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.10. The company had revenue of $275.04 million for the quarter, compared to analyst estimates of $262.52 million. Commvault Systems had a net margin of 18.14% and a return on equity of 28.69%. The firm's revenue was up 23.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.79 EPS. As a group, equities analysts expect that Commvault Systems, Inc. will post 1.65 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently issued reports on CVLT. KeyCorp cut their target price on shares of Commvault Systems from $195.00 to $185.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. Wells Fargo & Company lifted their price objective on shares of Commvault Systems from $180.00 to $190.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 30th. Wall Street Zen upgraded shares of Commvault Systems from a "hold" rating to a "buy" rating in a research note on Thursday, May 1st. Piper Sandler dropped their price objective on shares of Commvault Systems from $154.00 to $147.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. Finally, Oppenheimer lifted their price objective on shares of Commvault Systems from $180.00 to $200.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 30th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Commvault Systems currently has a consensus rating of "Moderate Buy" and an average 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.