Royal Bank of Canada Has $50.29 Million Stock Holdings in Commvault Systems, Inc. (NASDAQ:CVLT)

Royal Bank of Canada lessened its stake in Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 14.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 333,226 shares of the software maker's stock after selling 58,069 shares during the quarter. Royal Bank of Canada owned approximately 0.76% of Commvault Systems worth $50,286,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Quarry LP lifted its holdings in 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. Point72 Asia Singapore Pte. Ltd. lifted its holdings in Commvault Systems by 409.0% during the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 341 shares of the software maker's stock valued at $51,000 after purchasing an additional 274 shares during the last quarter. TFC Financial Management Inc. lifted its holdings in Commvault Systems by 294.1% during the 4th quarter. TFC Financial Management Inc. now owns 402 shares of the software maker's stock valued at $61,000 after purchasing an additional 300 shares during the last quarter. GeoWealth Management LLC acquired a new stake in Commvault Systems during the 4th quarter valued at $101,000. Finally, Blue Trust Inc. lifted its holdings in Commvault Systems by 37,400.0% during the 4th quarter. Blue Trust Inc. now owns 750 shares of the software maker's stock valued at $113,000 after purchasing an additional 748 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company's stock.

Insider Buying and Selling at Commvault Systems

In other Commvault Systems news, Director Nicola Adamo sold 1,500 shares of Commvault Systems 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 transaction, the director now owns 16,178 shares in the company, valued at $2,746,053.72. The trade was a 8.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.00% of the company's stock.

Commvault Systems Stock Performance

Shares of NASDAQ CVLT traded up $3.69 during mid-day trading on Tuesday, reaching $178.12. The company had a trading volume of 112,472 shares, compared to its average volume of 479,673. Commvault Systems, Inc. has a one year low of $105.76 and a one year high of $190.11. The firm has a market cap of $7.86 billion, a price-to-earnings ratio of 46.75 and a beta of 0.71. The business's 50-day simple moving average is $163.50 and its 200 day simple moving average is $164.93.

Commvault Systems (NASDAQ:CVLT - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The software maker reported $1.03 EPS for the quarter, topping analysts' consensus estimates of $0.93 by $0.10. Commvault Systems had a return on equity of 28.69% and a net margin of 18.14%. The company had revenue of $275.04 million for the quarter, compared to analysts' expectations of $262.52 million. During the same quarter last year, the business earned $0.79 earnings per share. Commvault Systems's revenue was up 23.2% on a year-over-year basis. On average, sell-side analysts anticipate that Commvault Systems, Inc. will post 1.65 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Wells Fargo & Company increased their price objective on Commvault Systems from $180.00 to $190.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 30th. Oppenheimer increased their price objective on Commvault Systems from $180.00 to $200.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 30th. Royal Bank of Canada increased their price objective on Commvault Systems from $175.00 to $185.00 and gave the stock a "sector perform" rating in a research report on Wednesday, April 30th. Guggenheim reiterated a "neutral" rating on shares of Commvault Systems in a research report on Wednesday, April 23rd. Finally, DA Davidson increased their price objective on Commvault Systems from $185.00 to $200.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $175.25.

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.