NewEdge Advisors LLC Purchases 2,872 Shares of Commvault Systems, Inc. (NASDAQ:CVLT)

NewEdge Advisors LLC raised its stake in shares of Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 175.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,512 shares of the software maker's stock after buying an additional 2,872 shares during the period. NewEdge Advisors LLC's holdings in Commvault Systems were worth $681,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the stock. Virtu Financial LLC acquired a new stake in Commvault Systems in the 3rd quarter valued at about $774,000. Tidal Investments LLC bought a new stake in shares of Commvault Systems in the 3rd quarter worth approximately $279,000. GAMMA Investing LLC lifted its stake in Commvault Systems by 13.7% during the fourth quarter. GAMMA Investing LLC now owns 1,006 shares of the software maker's stock valued at $152,000 after purchasing an additional 121 shares during the last quarter. CWA Asset Management Group LLC boosted its holdings in Commvault Systems by 20.4% during the fourth quarter. CWA Asset Management Group LLC now owns 7,994 shares of the software maker's stock worth $1,206,000 after buying an additional 1,355 shares in the last quarter. Finally, Oak Ridge Investments LLC acquired a new position in Commvault Systems in the fourth quarter worth approximately $2,561,000. 93.50% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Cantor Fitzgerald raised their price objective on Commvault Systems from $159.00 to $173.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 29th. Piper Sandler reduced their target price on Commvault Systems from $154.00 to $147.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. Oppenheimer lifted their price target on Commvault Systems from $180.00 to $200.00 and gave the stock an "outperform" rating in a research note on Wednesday. William Blair raised shares of Commvault Systems from a "market perform" rating to an "outperform" rating in a research note on Thursday, January 30th. Finally, Royal Bank of Canada boosted their price target on shares of Commvault Systems from $175.00 to $185.00 and gave the company a "sector perform" rating in a report on Wednesday. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $166.67.

Commvault Systems Trading Up 0.2 %

CVLT stock traded up $0.38 during midday trading on Thursday, reaching $167.51. The company had a trading volume of 306,223 shares, compared to its average volume of 413,595. The company has a 50 day moving average of $158.49 and a two-hundred day moving average of $161.76. Commvault Systems, Inc. has a 1 year low of $101.54 and a 1 year high of $190.11. The company has a market capitalization of $7.37 billion, a P/E ratio of 44.01 and a beta of 0.68.

Commvault Systems (NASDAQ:CVLT - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The software maker reported $1.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $262.52 million. During the same quarter last year, the firm earned $0.79 earnings per share. The business's revenue for the quarter was up 23.2% on a year-over-year basis. On average, sell-side analysts anticipate that Commvault Systems, Inc. will post 1.65 earnings per share for the current year.

Insider Activity at Commvault Systems

In related news, CEO Sanjay Mirchandani sold 12,318 shares of the company's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $185.96, for a total value of $2,290,655.28. Following the completion of the sale, the chief executive officer now directly owns 427,231 shares in the company, valued at approximately $79,447,876.76. This represents a 2.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Gary Merrill sold 3,287 shares of the business's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $186.94, for a total value of $614,471.78. Following the completion of the sale, the insider now directly owns 87,316 shares of the company's stock, valued at $16,322,853.04. This represents a 3.63 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by company insiders.

Commvault Systems 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.