CommVault Systems, Inc. (NASDAQ:CVLT) Shares Sold by Informed Momentum Co LLC

Key Points

• Informed Momentum Co LLC reduced its stake in CommVault Systems by 34.6%, selling 16,081 shares, and now holds 30,422 shares valued at approximately $4.8 million.
• Several institutional investors have significantly increased their holdings in CommVault Systems, with notable increases of 888.2% by Quarry LP and 101.3% by SBI Securities in the recent quarter.
• Analysts have raised their target prices for CommVault Systems, with a consensus price target now at $205.63 and most analysts rating the stock as a "Moderate Buy."

Informed Momentum Co LLC trimmed its stake in CommVault Systems, Inc. (NASDAQ:CVLT - Free Report) by 34.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,422 shares of the software maker's stock after selling 16,081 shares during the period. CommVault Systems accounts for approximately 0.8% of Informed Momentum Co LLC's holdings, making the stock its 15th largest position. Informed Momentum Co LLC owned about 0.07% of CommVault Systems worth $4,799,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Benjamin Edwards Inc. lifted its holdings in shares of CommVault Systems by 3.3% in the 4th quarter. Benjamin Edwards Inc. now owns 1,803 shares of the software maker's stock valued at $272,000 after acquiring an additional 58 shares during the last quarter. Hancock Whitney Corp lifted its holdings in shares of CommVault Systems by 1.0% in the 4th quarter. Hancock Whitney Corp now owns 5,781 shares of the software maker's stock valued at $872,000 after acquiring an additional 60 shares during the last quarter. Frank Rimerman Advisors LLC lifted its holdings in shares of CommVault Systems by 3.8% in the 1st quarter. Frank Rimerman Advisors LLC now owns 1,709 shares of the software maker's stock valued at $270,000 after acquiring an additional 63 shares during the last quarter. NorthCrest Asset Manangement LLC lifted its holdings in shares of CommVault Systems by 1.3% in the 1st quarter. NorthCrest Asset Manangement LLC now owns 5,753 shares of the software maker's stock valued at $908,000 after acquiring an additional 72 shares during the last quarter. Finally, SBI Securities Co. Ltd. lifted its holdings in shares of CommVault Systems by 101.3% in the 1st quarter. SBI Securities Co. Ltd. now owns 159 shares of the software maker's stock valued at $25,000 after acquiring an additional 80 shares during the last quarter. Institutional investors own 93.50% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on CVLT shares. Wall Street Zen downgraded shares of CommVault Systems from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 9th. Guggenheim set a $220.00 price objective on shares of CommVault Systems in a research note on Tuesday, July 29th. Royal Bank Of Canada raised their price objective on shares of CommVault Systems from $185.00 to $217.00 and gave the stock a "sector perform" rating in a research note on Wednesday, July 30th. DA Davidson raised their price objective on shares of CommVault Systems from $200.00 to $220.00 and gave the stock a "buy" rating in a research note on Wednesday, July 30th. Finally, KeyCorp raised their target price on shares of CommVault Systems from $195.00 to $225.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $205.63.

CommVault Systems Price Performance

Shares of NASDAQ:CVLT traded down $3.33 during trading on Friday, reaching $180.02. 326,672 shares of the company were exchanged, compared to its average volume of 496,631. The firm has a market capitalization of $8.00 billion, a PE ratio of 100.01 and a beta of 0.70. The business's fifty day simple moving average is $177.98 and its 200-day simple moving average is $170.52. CommVault Systems, Inc. has a 12-month low of $128.07 and a 12-month high of $200.68.

CommVault Systems (NASDAQ:CVLT - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The software maker reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.04. The company had revenue of $281.98 million for the quarter, compared to analyst estimates of $267.83 million. CommVault Systems had a net margin of 7.70% and a return on equity of 30.83%. The firm's revenue was up 26% on a year-over-year basis. On average, sell-side analysts anticipate that CommVault Systems, Inc. will post 1.65 EPS for the current fiscal year.

Insider Activity at CommVault Systems

In related news, CEO Sanjay Mirchandani sold 1,709 shares of CommVault Systems stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $299,075.00. Following the transaction, the chief executive officer directly owned 469,648 shares of the company's stock, valued at $82,188,400. This trade represents a 0.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, 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 transaction, the insider directly owned 89,923 shares in the company, valued at approximately $15,728,431.93. The trade was a 1.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.00% of the company's stock.

CommVault Systems 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.