Commvault Systems, Inc. (NASDAQ:CVLT) Shares Acquired by Millennium Management LLC

Millennium Management LLC lifted its stake in shares of Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 103.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 134,517 shares of the software maker's stock after purchasing an additional 68,238 shares during the quarter. Millennium Management LLC owned about 0.31% of Commvault Systems worth $20,300,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Quarry LP raised its position in Commvault Systems by 888.2% in the fourth quarter. Quarry LP now owns 168 shares of the software maker's stock worth $25,000 after acquiring an additional 151 shares in the last quarter. TFC Financial Management Inc. raised its position in Commvault Systems by 294.1% in the fourth quarter. TFC Financial Management Inc. now owns 402 shares of the software maker's stock worth $61,000 after acquiring an additional 300 shares in the last quarter. GeoWealth Management LLC purchased a new position in Commvault Systems in the fourth quarter worth $101,000. Blue Trust Inc. raised its position in Commvault Systems by 37,400.0% in the fourth quarter. Blue Trust Inc. now owns 750 shares of the software maker's stock worth $113,000 after acquiring an additional 748 shares in the last quarter. Finally, Meeder Asset Management Inc. purchased a new position in shares of Commvault Systems in the fourth quarter valued at $127,000. Hedge funds and other institutional investors own 93.50% of the company's stock.

Analyst Ratings Changes

CVLT has been the subject of a number of research analyst reports. Oppenheimer raised their price target on Commvault Systems from $180.00 to $200.00 and gave the company an "outperform" rating in a research report on Wednesday, April 30th. Piper Sandler dropped their price target on Commvault Systems from $154.00 to $147.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. William Blair upgraded Commvault Systems from a "market perform" rating to an "outperform" rating in a research report on Thursday, January 30th. Wells Fargo & Company raised 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. Finally, DA Davidson raised their price target on Commvault Systems from $185.00 to $200.00 and gave the company 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. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $175.25.

Insider Activity

In other news, Director Nicola Adamo sold 1,500 shares of Commvault Systems stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $169.74, for a total transaction of $254,610.00. Following the sale, the director now owns 16,178 shares in the company, valued at $2,746,053.72. This trade represents a 8.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.00% of the company's stock.

Commvault Systems Price Performance

NASDAQ:CVLT traded down $0.97 during mid-day trading on Monday, reaching $174.43. The company's stock had a trading volume of 265,548 shares, compared to its average volume of 421,345. The company's fifty day simple moving average is $163.50 and its two-hundred day simple moving average is $164.93. Commvault Systems, Inc. has a twelve month low of $105.76 and a twelve month high of $190.11. The stock has a market cap of $7.70 billion, a P/E ratio of 45.78 and a beta of 0.71.

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

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.