Commvault Systems, Inc. (NASDAQ:CVLT) Stock Position Decreased by Mackenzie Financial Corp

Mackenzie Financial Corp reduced its stake in shares of Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 65.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 242,323 shares of the software maker's stock after selling 449,657 shares during the quarter. Mackenzie Financial Corp owned about 0.55% of Commvault Systems worth $36,569,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in CVLT. Invesco Ltd. grew its stake in Commvault Systems by 57.7% during the 4th quarter. Invesco Ltd. now owns 1,660,108 shares of the software maker's stock worth $250,527,000 after buying an additional 607,643 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Commvault Systems by 604.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 647,525 shares of the software maker's stock worth $98,479,000 after purchasing an additional 555,656 shares in the last quarter. Norges Bank bought a new position in shares of Commvault Systems in the fourth quarter worth $79,619,000. Polar Capital Holdings Plc grew 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 worth $54,774,000 after purchasing an additional 234,477 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec grew its stake in shares of Commvault Systems by 105.3% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 203,704 shares of the software maker's stock worth $30,741,000 after purchasing an additional 104,489 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on CVLT shares. William Blair raised Commvault Systems from a "market perform" rating to an "outperform" rating in a research note on Thursday, January 30th. Royal Bank of Canada increased their price target on Commvault Systems from $175.00 to $185.00 and gave the stock a "sector perform" rating in a research note on Wednesday, April 30th. KeyCorp cut their price objective on Commvault Systems from $195.00 to $185.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Wells Fargo & Company upped their price objective on Commvault Systems from $180.00 to $190.00 and gave the company an "overweight" rating in a report on Wednesday, April 30th. Finally, Piper Sandler cut their price objective on Commvault Systems from $154.00 to $147.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $175.25.

Commvault Systems Price Performance

Shares of Commvault Systems stock traded up $1.58 during trading on Friday, hitting $178.95. The stock had a trading volume of 227,724 shares, compared to its average volume of 421,515. The firm has a market cap of $7.90 billion, a P/E ratio of 46.91 and a beta of 0.71. The business has a fifty day moving average of $164.14 and a two-hundred day moving average of $165.11. Commvault Systems, Inc. has a fifty-two week low of $105.76 and a fifty-two week high of $190.11.

Commvault Systems (NASDAQ:CVLT - Get Free Report) last announced its earnings results on Tuesday, April 29th. The software maker reported $1.03 EPS for the quarter, beating the consensus estimate of $0.93 by $0.10. Commvault Systems had a return on equity of 28.69% and a net margin of 18.14%. The business had revenue of $275.04 million during the quarter, compared to the consensus estimate of $262.52 million. During the same period in the prior year, the business posted $0.79 earnings per share. Commvault Systems's revenue was up 23.2% compared to the same quarter last year. As a group, research analysts forecast that Commvault Systems, Inc. will post 1.65 earnings per share for the current year.

Insider Activity

In related news, insider Gary Merrill sold 1,748 shares of the stock in a transaction dated Thursday, May 22nd. The stock was 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 directly owns 89,923 shares of the company's stock, valued at approximately $15,728,431.93. This represents a 1.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Nicola Adamo sold 1,500 shares of the stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $169.74, for a total value of $254,610.00. Following the completion of the sale, the director now directly owns 16,178 shares of the company's stock, valued at approximately $2,746,053.72. This represents a 8.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,957 shares of company stock valued at $859,428 over the last three months. Insiders own 1.00% of the company's stock.

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.