Commvault Systems, Inc. (NASDAQ:CVLT) Shares Sold by Virtus Investment Advisers Inc.

Virtus Investment Advisers Inc. lessened its stake in Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 19.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,980 shares of the software maker's stock after selling 2,429 shares during the period. Commvault Systems accounts for about 1.2% of Virtus Investment Advisers Inc.'s holdings, making the stock its 12th biggest position. Virtus Investment Advisers Inc.'s holdings in Commvault Systems were worth $1,506,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Invesco Ltd. boosted its holdings in Commvault Systems by 57.7% in the 4th 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 in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Commvault Systems by 604.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 647,525 shares of the software maker's stock valued at $98,479,000 after purchasing an additional 555,656 shares in the last quarter. Norges Bank purchased a new stake in Commvault Systems in the 4th quarter valued at approximately $79,619,000. Polar Capital Holdings Plc boosted its holdings in Commvault Systems by 182.5% in the 4th quarter. Polar Capital Holdings Plc now owns 362,958 shares of the software maker's stock valued at $54,774,000 after purchasing an additional 234,477 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec boosted its holdings in Commvault Systems by 105.3% in the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 203,704 shares of the software maker's stock valued at $30,741,000 after purchasing an additional 104,489 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on CVLT shares. Wall Street Zen raised Commvault Systems from a "hold" rating to a "buy" rating in a report on Thursday, May 1st. Guggenheim reissued a "neutral" rating on shares of Commvault Systems in a research note on Wednesday, April 23rd. Royal Bank of Canada boosted their price target on Commvault Systems from $175.00 to $185.00 and gave the stock a "sector perform" rating in a research note on Wednesday, April 30th. Cantor Fitzgerald boosted their price target on Commvault Systems from $159.00 to $173.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 29th. Finally, Piper Sandler decreased their price target on Commvault Systems from $154.00 to $147.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $175.25.

Insider Buying and Selling at Commvault Systems

In other news, Director Nicola Adamo sold 1,500 shares of the company's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $169.74, for a total value of $254,610.00. Following the sale, the director now owns 16,178 shares in the company, valued at approximately $2,746,053.72. This represents a 8.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.00% of the stock is currently owned by corporate insiders.

Commvault Systems Price Performance

CVLT traded up $1.00 during trading on Thursday, hitting $175.40. The company's stock had a trading volume of 277,033 shares, compared to its average volume of 420,176. The firm's 50 day moving average price is $163.05 and its 200-day moving average price is $164.90. The stock has a market cap of $7.74 billion, a PE ratio of 46.04 and a beta of 0.71. Commvault Systems, Inc. has a twelve month low of $105.76 and a twelve month high of $190.11.

Commvault Systems (NASDAQ:CVLT - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The software maker reported $1.03 EPS for the quarter, topping analysts' consensus estimates of $0.93 by $0.10. The business had revenue of $275.04 million during the quarter, compared to the consensus estimate of $262.52 million. Commvault Systems had a return on equity of 28.69% and a net margin of 18.14%. The business's revenue for the quarter was up 23.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.79 EPS. Equities analysts anticipate 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.