Man Group plc Buys 9,996 Shares of Commvault Systems, Inc. (NASDAQ:CVLT)

Man Group plc grew its stake in Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 6.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 161,781 shares of the software maker's stock after buying an additional 9,996 shares during the period. Man Group plc owned 0.37% of Commvault Systems worth $24,414,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Invesco Ltd. grew its stake in Commvault Systems by 57.7% in the 4th quarter. Invesco Ltd. now owns 1,660,108 shares of the software maker's stock worth $250,527,000 after acquiring an additional 607,643 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in Commvault Systems by 604.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 647,525 shares of the software maker's stock worth $98,479,000 after purchasing an additional 555,656 shares during the last quarter. Norges Bank acquired a new stake in shares of Commvault Systems in the 4th quarter valued at about $79,619,000. Caisse DE Depot ET Placement DU Quebec increased its stake in Commvault Systems by 105.3% during the fourth 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 during the last quarter. Finally, Driehaus Capital Management LLC lifted its stake in Commvault Systems by 20.8% in the fourth quarter. Driehaus Capital Management LLC now owns 512,251 shares of the software maker's stock valued at $77,304,000 after buying an additional 88,232 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company's stock.

Insider Activity at Commvault Systems

In other Commvault Systems news, Director Nicola Adamo sold 1,500 shares of the firm's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $169.74, for a total value of $254,610.00. Following the transaction, the director now directly owns 16,178 shares of the company's stock, valued at approximately $2,746,053.72. This trade represents a 8.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.00% of the stock is currently owned by corporate insiders.

Commvault Systems Stock Performance

Shares of NASDAQ:CVLT traded down $2.13 during trading on Wednesday, reaching $177.39. The stock had a trading volume of 80,088 shares, compared to its average volume of 418,045. Commvault Systems, Inc. has a 52 week low of $105.76 and a 52 week high of $190.11. The firm's fifty day moving average is $161.83 and its 200 day moving average is $164.61. The stock has a market cap of $7.83 billion, a price-to-earnings ratio of 46.56 and a beta of 0.71.

Commvault Systems (NASDAQ:CVLT - Get Free Report) last issued its quarterly earnings results 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. Commvault Systems had a return on equity of 28.69% and a net margin of 18.14%. The firm had revenue of $275.04 million for the quarter, compared to analyst estimates of $262.52 million. During the same period in the previous year, the firm earned $0.79 earnings per share. The company's 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 fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Cantor Fitzgerald lifted their price objective on shares of Commvault Systems from $159.00 to $173.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 29th. Royal Bank of Canada increased their price target on shares of Commvault Systems from $175.00 to $185.00 and gave the stock a "sector perform" rating in a research report on Wednesday, April 30th. StockNews.com upgraded Commvault Systems from a "hold" rating to a "buy" rating in a research report on Thursday, May 1st. DA Davidson upped their price target on Commvault Systems from $185.00 to $200.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Finally, Oppenheimer increased their target price on Commvault Systems from $180.00 to $200.00 and gave the company an "outperform" rating in a research note on Wednesday, April 30th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $175.25.

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.