CommVault Systems, Inc. (NASDAQ:CVLT) Shares Acquired by New Age Alpha Advisors LLC

Key Points

• New Age Alpha Advisors LLC increased its holdings in CommVault Systems, Inc. by 20.7%, acquiring 1,901 shares to reach a total of 11,090 shares valued at approximately $1.75 million.
• The stock price of CommVault opened at $185.77, with a one-year low of $128.07 and a high of $200.68, reflecting significant market activity and a market capitalization of $8.26 billion.
• Several analysts have revised their price targets for CommVault, with estimates ranging from $170.00 to $225.00, indicating a generally positive outlook and an average rating of "Moderate Buy".

New Age Alpha Advisors LLC raised its holdings in CommVault Systems, Inc. (NASDAQ:CVLT - Free Report) by 20.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 11,090 shares of the software maker's stock after acquiring an additional 1,901 shares during the quarter. New Age Alpha Advisors LLC's holdings in CommVault Systems were worth $1,750,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Blair William & Co. IL increased its position in shares of CommVault Systems by 128.4% in the first quarter. Blair William & Co. IL now owns 4,625 shares of the software maker's stock valued at $730,000 after buying an additional 2,600 shares in the last quarter. Banco Santander S.A. increased its position in shares of CommVault Systems by 26.6% in the first quarter. Banco Santander S.A. now owns 6,988 shares of the software maker's stock valued at $1,102,000 after buying an additional 1,470 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of CommVault Systems by 37.8% in the first quarter. PNC Financial Services Group Inc. now owns 3,361 shares of the software maker's stock valued at $530,000 after buying an additional 922 shares in the last quarter. Jupiter Asset Management Ltd. increased its position in shares of CommVault Systems by 9.3% in the first quarter. Jupiter Asset Management Ltd. now owns 254,806 shares of the software maker's stock valued at $40,198,000 after buying an additional 21,781 shares in the last quarter. Finally, Natixis Advisors LLC increased its position in shares of CommVault Systems by 36.0% in the first quarter. Natixis Advisors LLC now owns 14,726 shares of the software maker's stock valued at $2,323,000 after buying an additional 3,900 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company's stock.

Insiders Place Their Bets

In other news, insider Gary Merrill sold 1,748 shares of the stock in a transaction on 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 transaction, the insider owned 89,923 shares of the company's stock, valued at approximately $15,728,431.93. This represents a 1.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Sanjay Mirchandani sold 1,709 shares of the stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $299,075.00. Following the completion of the transaction, the chief executive officer directly owned 469,648 shares of the company's stock, valued at approximately $82,188,400. The trade was a 0.36% decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on CVLT shares. Wall Street Zen cut CommVault Systems from a "strong-buy" rating to a "buy" rating in a research report on Saturday. Wells Fargo & Company lifted their price objective on CommVault Systems from $190.00 to $220.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. Guggenheim set a $220.00 price objective on CommVault Systems in a research report on Tuesday, July 29th. Royal Bank Of Canada lifted their price objective on CommVault Systems from $185.00 to $217.00 and gave the stock a "sector perform" rating in a research report on Wednesday, July 30th. Finally, Piper Sandler raised their price target on CommVault Systems from $168.00 to $170.00 and gave the stock a "neutral" rating in a research note on Monday, July 14th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $205.63.

CommVault Systems Trading Up 5.1%

CVLT traded up $9.40 during trading on Tuesday, reaching $195.04. 246,700 shares of the company were exchanged, compared to its average volume of 494,458. The stock has a market cap of $8.67 billion, a P/E ratio of 108.20 and a beta of 0.70. The firm has a 50 day moving average of $177.68 and a 200 day moving average of $170.05. CommVault Systems, Inc. has a 52 week low of $128.07 and a 52 week high of $200.68.

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.