Harbor Capital Advisors Inc. Raises Stake in Commvault Systems, Inc. (NASDAQ:CVLT)

Harbor Capital Advisors Inc. raised its position in Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 40,181.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,862 shares of the software maker's stock after buying an additional 8,840 shares during the quarter. Harbor Capital Advisors Inc.'s holdings in Commvault Systems were worth $1,398,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Quarry LP increased its holdings in shares of Commvault Systems by 888.2% in the 4th quarter. Quarry LP now owns 168 shares of the software maker's stock valued at $25,000 after acquiring an additional 151 shares during the period. Whipplewood Advisors LLC increased its stake in Commvault Systems by 584.0% in the first quarter. Whipplewood Advisors LLC now owns 171 shares of the software maker's stock valued at $27,000 after purchasing an additional 146 shares during the period. MassMutual Private Wealth & Trust FSB increased its stake in Commvault Systems by 208.3% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 185 shares of the software maker's stock valued at $29,000 after purchasing an additional 125 shares during the period. NBC Securities Inc. purchased a new stake in shares of Commvault Systems in the first quarter valued at about $43,000. Finally, Versant Capital Management Inc boosted its stake in shares of Commvault Systems by 183.7% during the first quarter. Versant Capital Management Inc now owns 295 shares of the software maker's stock worth $47,000 after buying an additional 191 shares during the period. 93.50% of the stock is owned by institutional investors and hedge funds.

Commvault Systems Stock Down 0.8%

CVLT stock traded down $1.47 on Friday, reaching $184.62. 371,787 shares of the company's stock were exchanged, compared to its average volume of 424,915. The stock has a fifty day moving average of $169.81 and a 200-day moving average of $166.18. The firm has a market cap of $8.15 billion, a PE ratio of 48.46 and a beta of 0.75. Commvault Systems, Inc. has a twelve month low of $113.83 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 earnings per share for the quarter, topping 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 business had revenue of $275.04 million for the quarter, compared to analysts' expectations of $262.52 million. During the same period in the prior year, the company posted $0.79 EPS. The business's revenue for the quarter was up 23.2% on a year-over-year basis. On average, equities research analysts predict that Commvault Systems, Inc. will post 1.65 EPS for the current fiscal year.

Insider Buying and Selling at Commvault Systems

In related news, Director Nicola Adamo sold 1,500 shares of Commvault Systems stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $169.74, for a total transaction of $254,610.00. Following the completion of the transaction, the director now directly owns 16,178 shares of the company's stock, valued at approximately $2,746,053.72. The trade was a 8.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Sanjay Mirchandani sold 1,709 shares of the company's 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 completion of the sale, the chief executive officer now directly owns 469,648 shares in the company, valued at $82,188,400. This trade represents a 0.36% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,957 shares of company stock valued at $859,428. Corporate insiders own 1.00% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on CVLT. 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 report on Wednesday, April 30th. Piper Sandler dropped their target price on Commvault Systems from $154.00 to $147.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. Guggenheim reaffirmed a "neutral" rating on shares of Commvault Systems in a report on Wednesday, April 23rd. Oppenheimer lifted their price objective on shares of Commvault Systems from $180.00 to $200.00 and gave the company an "outperform" rating in a research report on Wednesday, April 30th. Finally, DA Davidson upped their price objective on shares of Commvault Systems from $185.00 to $200.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average 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.