CommVault Systems, Inc. (NASDAQ:CVLT) Shares Acquired by Invesco Ltd.

Key Points

• Invesco Ltd. increased its holdings in CommVault Systems by 7.1% during the first quarter, owning 1,777,307 shares valued at approximately $280.39 million.
• CommVault reported a quarterly earnings per share (EPS) of $1.01, exceeding estimates and a 26% revenue growth year-over-year, amounting to $281.98 million.
• Analysts have updated their price targets for CommVault, with Royal Bank of Canada raising it from $185 to $217, indicating a consensus rating of 'Moderate Buy'.

Invesco Ltd. lifted its position in CommVault Systems, Inc. (NASDAQ:CVLT - Free Report) by 7.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,777,307 shares of the software maker's stock after purchasing an additional 117,199 shares during the quarter. Invesco Ltd. owned about 4.03% of CommVault Systems worth $280,388,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Wedge Capital Management L L P NC grew its holdings in shares of CommVault Systems by 1,936.0% in the first quarter. Wedge Capital Management L L P NC now owns 360,355 shares of the software maker's stock valued at $56,850,000 after purchasing an additional 342,656 shares in the last quarter. Polar Capital Holdings Plc raised its stake in shares of CommVault Systems by 182.5% in the fourth quarter. Polar Capital Holdings Plc now owns 362,958 shares of the software maker's stock valued at $54,774,000 after acquiring an additional 234,477 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of CommVault Systems by 20,945.1% in the first quarter. GAMMA Investing LLC now owns 211,714 shares of the software maker's stock valued at $33,400,000 after acquiring an additional 210,708 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its stake in shares of CommVault Systems by 105.3% in the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 203,704 shares of the software maker's stock valued at $30,741,000 after buying an additional 104,489 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of CommVault Systems in the 4th quarter valued at about $14,814,000. Hedge funds and other institutional investors own 93.50% of the company's stock.

CommVault Systems Stock Performance

Shares of CVLT stock traded down $3.33 during trading hours on Friday, reaching $180.02. The company had a trading volume of 326,962 shares, compared to its average volume of 496,633. CommVault Systems, Inc. has a twelve month low of $128.07 and a twelve month high of $200.68. The company has a market capitalization of $8.00 billion, a P/E ratio of 100.01 and a beta of 0.70. The stock's fifty day simple moving average is $177.98 and its 200 day simple moving average is $170.52.

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 for the quarter, beating analysts' consensus estimates of $0.97 by $0.04. CommVault Systems had a return on equity of 30.83% and a net margin of 7.70%. The firm had revenue of $281.98 million during the quarter, compared to analyst estimates of $267.83 million. The business's revenue for the quarter was up 26% on a year-over-year basis. As a group, equities analysts expect that CommVault Systems, Inc. will post 1.65 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently issued reports on CVLT. KeyCorp lifted their price objective on CommVault Systems from $195.00 to $225.00 and gave the company an "overweight" rating in a research note on Wednesday, July 30th. Wells Fargo & Company lifted 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. Royal Bank Of Canada lifted their price objective on CommVault Systems from $185.00 to $217.00 and gave the company a "sector perform" rating in a research note on Wednesday, July 30th. Oppenheimer lifted their price objective on CommVault Systems from $180.00 to $200.00 and gave the company an "outperform" rating in a research note on Wednesday, April 30th. Finally, DA Davidson boosted their target price on CommVault Systems from $200.00 to $220.00 and gave the stock a "buy" rating in a research note on Wednesday, July 30th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $205.63.

Insider Activity at CommVault Systems

In other news, CEO Sanjay Mirchandani sold 1,709 shares of CommVault Systems stock in a transaction on Thursday, May 22nd. The stock was 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 in the company, valued at approximately $82,188,400. This trade represents a 0.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Gary Merrill sold 1,748 shares of CommVault Systems stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $174.91, for a total value of $305,742.68. Following the transaction, the insider owned 89,923 shares in the company, valued at approximately $15,728,431.93. This trade represents 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.

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.