Jupiter Asset Management Ltd. Purchases 21,781 Shares of CommVault Systems, Inc. (NASDAQ:CVLT)

Key Points

• Jupiter Asset Management Ltd. has increased its stake in CommVault Systems by 9.3%, purchasing 21,781 shares, bringing its total ownership to 254,806 shares valued at approximately $40.2 million.
• CommVault Systems recently reported earnings of $1.03 EPS, surpassing analysts' estimates of $0.93, with revenue of $275.04 million, which is a 23.2% increase year-over-year.
• Several analysts have upgraded CommVault's stock ratings, with price targets now ranging from $170.00 to $225.00, reflecting a positive outlook on the company's performance.

Jupiter Asset Management Ltd. increased its stake in shares of CommVault Systems, Inc. (NASDAQ:CVLT - Free Report) by 9.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 254,806 shares of the software maker's stock after buying an additional 21,781 shares during the period. Jupiter Asset Management Ltd. owned 0.58% of CommVault Systems worth $40,198,000 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. SBI Securities Co. Ltd. raised its stake in CommVault Systems by 101.3% in the 1st quarter. SBI Securities Co. Ltd. now owns 159 shares of the software maker's stock worth $25,000 after purchasing an additional 80 shares in the last quarter. Quarry LP grew its holdings in shares of CommVault Systems by 888.2% during the 4th quarter. Quarry LP now owns 168 shares of the software maker's stock valued at $25,000 after purchasing an additional 151 shares during the last quarter. Cullen Frost Bankers Inc. bought a new stake in shares of CommVault Systems during the 1st quarter valued at approximately $27,000. 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. Finally, 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. Institutional investors own 93.50% of the company's stock.

Insider Buying and Selling

In other news, insider Gary Merrill sold 1,748 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the insider directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 sale, the chief executive officer owned 469,648 shares of the company's stock, valued at approximately $82,188,400. The trade was a 0.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on CVLT shares. Royal Bank Of Canada boosted their target price on shares of CommVault Systems from $185.00 to $217.00 and gave the company a "sector perform" rating in a report on Wednesday, July 30th. Wall Street Zen upgraded shares of CommVault Systems from a "hold" rating to a "buy" rating in a report on Thursday, May 1st. Piper Sandler increased their target price on shares of CommVault Systems from $168.00 to $170.00 and gave the company a "neutral" rating in a report on Monday, July 14th. Wells Fargo & Company raised their price objective on shares of CommVault Systems from $190.00 to $220.00 and gave the stock an "overweight" rating in a report on Wednesday, July 30th. Finally, KeyCorp raised their price objective on shares of CommVault Systems from $195.00 to $225.00 and gave the stock an "overweight" rating in a report on Wednesday, July 30th. Three equities 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, CommVault Systems presently has a consensus rating of "Moderate Buy" and a consensus target price of $205.63.

CommVault Systems Trading Up 1.3%

Shares of CVLT stock traded up $2.36 during trading hours on Wednesday, reaching $185.61. The stock had a trading volume of 246,658 shares, compared to its average volume of 496,187. The stock's fifty day simple moving average is $177.35 and its 200 day simple moving average is $169.34. CommVault Systems, Inc. has a 12 month low of $128.07 and a 12 month high of $200.68. The firm has a market capitalization of $8.25 billion, a PE ratio of 103.12 and a beta of 0.70.

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.