Commvault Systems, Inc. (NASDAQ:CVLT) Stock Holdings Lessened by Lazard Asset Management LLC

Lazard Asset Management LLC cut its holdings in shares of Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 12.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 43,802 shares of the software maker's stock after selling 6,486 shares during the period. Lazard Asset Management LLC owned about 0.10% of Commvault Systems worth $6,609,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its stake in 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 purchasing an additional 54,562 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Commvault Systems by 1.3% during the 4th quarter. Renaissance Technologies LLC now owns 1,909,185 shares of the software maker's stock valued at $288,115,000 after buying an additional 24,900 shares during the last quarter. Invesco Ltd. grew its position in shares of Commvault Systems by 57.7% during the fourth quarter. Invesco Ltd. now owns 1,660,108 shares of the software maker's stock worth $250,527,000 after buying an additional 607,643 shares in the last quarter. Geode Capital Management LLC grew its position in shares of 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 worth $194,681,000 after buying an additional 43,088 shares in the last quarter. Finally, Northern Trust Corp increased its stake in shares of Commvault Systems by 9.8% in the fourth 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 during the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on CVLT shares. DA Davidson boosted their target price on shares of Commvault Systems from $185.00 to $200.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Piper Sandler lowered their price objective on Commvault Systems from $154.00 to $147.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. William Blair upgraded Commvault Systems from a "market perform" rating to an "outperform" rating in a research note on Thursday, January 30th. StockNews.com raised Commvault Systems from a "hold" rating to a "buy" rating in a report on Thursday, May 1st. Finally, Guggenheim reiterated a "neutral" rating on shares of Commvault Systems in a report on Wednesday, April 23rd. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Commvault Systems has an average rating of "Moderate Buy" and a consensus target price of $175.25.

Commvault Systems Trading Up 0.4%

CVLT traded up $0.69 during trading on Tuesday, reaching $178.84. 150,112 shares of the company were exchanged, compared to its average volume of 417,670. Commvault Systems, Inc. has a 52 week low of $105.76 and a 52 week high of $190.11. The firm has a 50 day moving average of $161.83 and a 200 day moving average of $164.61. The stock has a market cap of $7.89 billion, a P/E ratio of 46.94 and a beta of 0.71.

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

Insider Buying and Selling

In related news, Director Nicola Adamo sold 1,500 shares of the firm's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $169.74, for a total transaction of $254,610.00. Following the completion of the transaction, the director now owns 16,178 shares of the company's stock, valued at $2,746,053.72. This trade represents a 8.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Sanjay Mirchandani sold 12,318 shares of Commvault Systems stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $185.96, for a total value of $2,290,655.28. Following the transaction, the chief executive officer now directly owns 427,231 shares in the company, valued at approximately $79,447,876.76. The trade was a 2.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 17,105 shares of company stock valued at $3,159,737 in the last three months. 1.00% of the stock is currently owned by corporate insiders.

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.