Harbor Capital Advisors Inc. Boosts Holdings in Commvault Systems, Inc. (NASDAQ:CVLT)

Harbor Capital Advisors Inc. increased its stake in shares of Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 40,181.8% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 8,862 shares of the software maker's stock after buying an additional 8,840 shares during the period. Harbor Capital Advisors Inc.'s holdings in Commvault Systems were worth $1,398,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Quarry LP raised its stake in Commvault Systems by 888.2% in the 4th quarter. Quarry LP now owns 168 shares of the software maker's stock worth $25,000 after purchasing an additional 151 shares in the last quarter. Whipplewood Advisors LLC grew its holdings in 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 last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in 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 last quarter. NBC Securities Inc. bought a new stake in Commvault Systems during the 1st quarter worth approximately $43,000. Finally, Versant Capital Management Inc grew its holdings in 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 last quarter. Institutional investors own 93.50% of the company's stock.

Insider Buying and Selling at Commvault Systems

In other news, insider Gary Merrill sold 1,748 shares of the stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $174.91, for a total value of $305,742.68. Following the completion of the sale, the insider now owns 89,923 shares in the company, valued at $15,728,431.93. This represents a 1.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Sanjay Mirchandani sold 1,709 shares of the stock in a transaction dated 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 of the company's stock, valued at approximately $82,188,400. This represents a 0.36% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,957 shares of company stock valued at $859,428. Corporate insiders own 1.00% of the company's stock.

Commvault Systems Price Performance

Shares of Commvault Systems stock traded up $2.92 during trading on Monday, reaching $187.54. 461,271 shares of the company traded hands, compared to its average volume of 426,006. Commvault Systems, Inc. has a 1-year low of $116.45 and a 1-year high of $192.01. The company has a 50 day moving average price of $171.64 and a 200-day moving average price of $166.26. The firm has a market capitalization of $8.28 billion, a PE ratio of 49.22 and a beta of 0.75.

Commvault Systems (NASDAQ:CVLT - Get Free Report) last released its earnings results on Tuesday, April 29th. The software maker reported $1.03 earnings per share (EPS) for the quarter, beating 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 company had revenue of $275.04 million for the quarter, compared to the consensus estimate of $262.52 million. During the same quarter in the previous year, the company earned $0.79 EPS. Commvault Systems's quarterly revenue was up 23.2% compared to the same quarter last year. Equities research analysts expect that Commvault Systems, Inc. will post 1.65 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CVLT. KeyCorp reduced their target price 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 target price on shares of Commvault Systems from $180.00 to $190.00 and gave the stock an "overweight" rating in a report on Wednesday, April 30th. Piper Sandler reduced their target price on shares of Commvault Systems from $154.00 to $147.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. Wall Street Zen raised shares of Commvault Systems from a "hold" rating to a "buy" rating in a research note on Thursday, May 1st. Finally, Royal Bank of Canada upped their price objective on shares of Commvault Systems from $175.00 to $185.00 and gave the company a "sector perform" rating in a research note on Wednesday, April 30th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $175.25.

Commvault Systems Company Profile

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.