Victory Capital Management Inc. Grows Stock Holdings in CommVault Systems, Inc. (NASDAQ:CVLT)

Victory Capital Management Inc. raised its position in shares of CommVault Systems, Inc. (NASDAQ:CVLT - Free Report) by 23.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,148 shares of the software maker's stock after buying an additional 10,136 shares during the quarter. Victory Capital Management Inc. owned about 0.12% of CommVault Systems worth $8,542,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of CommVault Systems by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 5,636,559 shares of the software maker's stock valued at $850,613,000 after acquiring an additional 54,562 shares during the last quarter. Renaissance Technologies LLC raised its stake in CommVault Systems by 1.3% during the fourth quarter. Renaissance Technologies LLC now owns 1,909,185 shares of the software maker's stock valued at $288,115,000 after purchasing an additional 24,900 shares in the last quarter. Invesco Ltd. lifted its position in CommVault Systems by 57.7% during the fourth quarter. Invesco Ltd. now owns 1,660,108 shares of the software maker's stock valued at $250,527,000 after purchasing an additional 607,643 shares during the last quarter. Geode Capital Management LLC lifted its position in CommVault Systems by 3.5% during the fourth quarter. Geode Capital Management LLC now owns 1,288,068 shares of the software maker's stock valued at $194,681,000 after purchasing an additional 43,088 shares during the last quarter. Finally, Northern Trust Corp grew its stake in shares of CommVault Systems by 9.8% in the 4th quarter. Northern Trust Corp now owns 651,973 shares of the software maker's stock worth $98,389,000 after buying an additional 58,239 shares in the last quarter. Institutional investors own 93.50% of the company's stock.

CommVault Systems Trading Down 1.0%

Shares of CVLT traded down $1.62 during trading hours on Friday, reaching $164.35. 463,502 shares of the company traded hands, compared to its average volume of 386,145. The stock's fifty day moving average price is $176.26 and its 200 day moving average price is $168.04. The firm has a market cap of $7.32 billion, a price-to-earnings ratio of 97.25 and a beta of 0.73. CommVault Systems, Inc. has a 12-month low of $121.78 and a 12-month high of $192.01.

CommVault Systems (NASDAQ:CVLT - Get Free Report) last issued its 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 net margin of 7.64% and a return on equity of 32.31%. The business had revenue of $275.04 million for the quarter, compared to analyst estimates of $262.52 million. During the same period last year, the company posted $0.79 earnings per share. The company's quarterly revenue was up 23.2% compared to the same quarter last year. On average, research analysts forecast that CommVault Systems, Inc. will post 1.65 earnings per share for the current year.

Analyst Ratings Changes

CVLT has been the topic of several recent research reports. Royal Bank Of Canada upped their target price on shares of CommVault Systems from $175.00 to $185.00 and gave the company a "sector perform" rating in a research report on Wednesday, April 30th. KeyCorp reduced their price objective on CommVault Systems from $195.00 to $185.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. Wells Fargo & Company upped their price objective on CommVault Systems from $180.00 to $190.00 and gave the company an "overweight" rating in a research report on Wednesday, April 30th. Piper Sandler raised their price objective on CommVault Systems from $168.00 to $170.00 and gave the company a "neutral" rating in a research note on Monday, July 14th. Finally, Guggenheim upgraded CommVault Systems from a "neutral" rating to a "buy" rating and set a $210.00 target price for the company in a report on Wednesday, July 16th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $189.13.

Insider Transactions at CommVault Systems

In other news, insider Gary Merrill sold 1,748 shares of the firm's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $174.91, for a total transaction of $305,742.68. Following the transaction, the insider owned 89,923 shares in the company, valued at approximately $15,728,431.93. This trade represents a 1.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Sanjay Mirchandani sold 1,709 shares of the stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $299,075.00. Following the transaction, the chief executive officer owned 469,648 shares in the company, valued at approximately $82,188,400. The trade was a 0.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,957 shares of company stock valued at $859,428. 1.00% of the stock is currently owned by corporate insiders.

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.