Norden Group LLC Has $591,000 Stock Position in CommVault Systems, Inc. (NASDAQ:CVLT)

Key Points

• Norden Group LLC reduced its stake in CommVault Systems, Inc. by 35.9% in the 1st quarter, now holding 3,746 shares valued at approximately $591,000.
• Several institutional investors increased their positions in CommVault, with Principal Financial Group growing its stake by 1.4%, now owning shares worth $19.25 million.
• CommVault reported earnings of $1.03 per share for the last quarter, exceeding analysts' expectations and reflecting a 23.2% year-over-year revenue growth.

Norden Group LLC trimmed its holdings in shares of CommVault Systems, Inc. (NASDAQ:CVLT - Free Report) by 35.9% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,746 shares of the software maker's stock after selling 2,094 shares during the quarter. Norden Group LLC's holdings in CommVault Systems were worth $591,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. Benjamin Edwards Inc. boosted its holdings in shares of CommVault Systems by 3.3% in the 4th quarter. Benjamin Edwards Inc. now owns 1,803 shares of the software maker's stock valued at $272,000 after buying an additional 58 shares during the last quarter. Hancock Whitney Corp boosted its holdings in shares of CommVault Systems by 1.0% in the 4th quarter. Hancock Whitney Corp now owns 5,781 shares of the software maker's stock valued at $872,000 after buying an additional 60 shares during the last quarter. NorthCrest Asset Manangement LLC boosted its holdings in shares of CommVault Systems by 1.3% in the 1st quarter. NorthCrest Asset Manangement LLC now owns 5,753 shares of the software maker's stock valued at $908,000 after buying an additional 72 shares during the last quarter. SBI Securities Co. Ltd. boosted its holdings in shares of CommVault Systems by 101.3% in the 1st quarter. SBI Securities Co. Ltd. now owns 159 shares of the software maker's stock valued at $25,000 after buying an additional 80 shares during the last quarter. Finally, Johnson Investment Counsel Inc. boosted its holdings in shares of CommVault Systems by 6.7% in the 1st quarter. Johnson Investment Counsel Inc. now owns 1,451 shares of the software maker's stock valued at $229,000 after buying an additional 91 shares during the last quarter. 93.50% of the stock is owned by institutional investors.

Insider Transactions at CommVault Systems

In other CommVault Systems news, CEO Sanjay Mirchandani sold 1,709 shares of CommVault Systems stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $299,075.00. Following the transaction, the chief executive officer owned 469,648 shares in the company, valued at $82,188,400. The trade was a 0.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Gary Merrill sold 1,748 shares of CommVault Systems stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $174.91, for a total value of $305,742.68. Following the sale, the insider directly owned 89,923 shares in the company, valued at $15,728,431.93. The trade was a 1.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.00% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on CVLT shares. Piper Sandler raised their price target on CommVault Systems from $168.00 to $170.00 and gave the company a "neutral" rating in a report on Monday, July 14th. Oppenheimer raised their price target on CommVault Systems from $180.00 to $200.00 and gave the company an "outperform" rating in a report on Wednesday, April 30th. KeyCorp raised their price target on CommVault Systems from $195.00 to $225.00 and gave the company an "overweight" rating in a report on Wednesday. Guggenheim set a $220.00 price target on CommVault Systems in a report on Tuesday. Finally, Wall Street Zen raised CommVault Systems from a "hold" rating to a "buy" rating in a report on Thursday, May 1st. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $205.63.

CommVault Systems Stock Down 5.4%

Shares of CVLT traded down $10.22 during midday trading on Friday, reaching $179.73. 515,257 shares of the stock were exchanged, compared to its average volume of 501,117. CommVault Systems, Inc. has a twelve month low of $127.35 and a twelve month high of $200.68. The company has a market cap of $8.00 billion, a P/E ratio of 99.85 and a beta of 0.73. The stock's 50 day simple moving average is $177.02 and its 200 day simple moving average is $168.97.

CommVault Systems (NASDAQ:CVLT - Get Free Report) last released its earnings results on Tuesday, April 29th. The software maker reported $1.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.93 by $0.10. CommVault Systems had a return on equity of 30.83% and a net margin of 7.70%. The firm had revenue of $275.04 million for the quarter, compared to analysts' expectations of $262.52 million. During the same quarter in the previous year, the business posted $0.79 earnings per share. The business's revenue for the quarter was up 23.2% on a year-over-year basis. As a group, analysts predict that CommVault Systems, Inc. will post 1.65 earnings per share for the current year.

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.