SteelPeak Wealth LLC Increases Position in CommVault Systems, Inc. (NASDAQ:CVLT)

SteelPeak Wealth LLC grew its holdings in CommVault Systems, Inc. (NASDAQ:CVLT - Free Report) by 50.2% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 6,615 shares of the software maker's stock after buying an additional 2,210 shares during the period. SteelPeak Wealth LLC's holdings in CommVault Systems were worth $1,044,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Benjamin Edwards Inc. raised its holdings in shares of CommVault Systems by 3.3% in the fourth 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 increased its stake in shares of CommVault Systems by 1.0% during the fourth quarter. Hancock Whitney Corp now owns 5,781 shares of the software maker's stock worth $872,000 after acquiring an additional 60 shares during the period. NorthCrest Asset Manangement LLC increased its stake in shares of CommVault Systems by 1.3% during the first quarter. NorthCrest Asset Manangement LLC now owns 5,753 shares of the software maker's stock worth $908,000 after acquiring an additional 72 shares during the period. Johnson Investment Counsel Inc. increased its stake in shares of CommVault Systems by 6.7% during the first quarter. Johnson Investment Counsel Inc. now owns 1,451 shares of the software maker's stock worth $229,000 after acquiring an additional 91 shares during the period. Finally, PNC Financial Services Group Inc. increased its stake in shares of CommVault Systems by 4.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,439 shares of the software maker's stock worth $368,000 after acquiring an additional 93 shares during the period. 93.50% of the stock is owned by hedge funds and other institutional investors.

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 shares were sold at an average price of $174.91, for a total value of $305,742.68. Following the completion of the sale, the insider owned 89,923 shares of the company's stock, valued at $15,728,431.93. This represents a 1.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 transaction of $299,075.00. Following the completion of the sale, the chief executive officer directly owned 469,648 shares of the company's stock, valued at $82,188,400. The trade was a 0.36% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,957 shares of company stock valued at $859,428 over the last quarter. Company insiders own 1.00% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on CVLT shares. Guggenheim reiterated a "neutral" rating on shares of CommVault Systems in a research note on Wednesday, April 23rd. Wells Fargo & Company boosted their price target on shares of CommVault Systems from $180.00 to $190.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 30th. Oppenheimer upped their target price on shares of CommVault Systems from $180.00 to $200.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 30th. Wall Street Zen upgraded shares of CommVault Systems from a "hold" rating to a "buy" rating in a research report on Thursday, May 1st. Finally, Piper Sandler lowered their target price on shares of CommVault Systems from $154.00 to $147.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $182.86.

CommVault Systems Price Performance

Shares of NASDAQ CVLT opened at $165.05 on Friday. CommVault Systems, Inc. has a 12-month low of $119.67 and a 12-month high of $192.01. The company has a market capitalization of $7.35 billion, a PE ratio of 97.66 and a beta of 0.73. The firm's 50-day moving average is $177.91 and its two-hundred day moving average is $167.11.

CommVault Systems (NASDAQ:CVLT - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The software maker reported $1.03 earnings per share (EPS) 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 the consensus estimate of $262.52 million. CommVault Systems had a net margin of 7.64% and a return on equity of 32.31%. The company's quarterly revenue was up 23.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.79 earnings per share. On average, analysts forecast that CommVault Systems, Inc. will post 1.65 EPS for the current fiscal 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.

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