Northern Trust Corp Acquires 58,239 Shares of Commvault Systems, Inc. (NASDAQ:CVLT)

Northern Trust Corp raised its holdings in shares of Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 9.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 651,973 shares of the software maker's stock after acquiring an additional 58,239 shares during the quarter. Northern Trust Corp owned about 1.48% of Commvault Systems worth $98,389,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. Quarry LP raised its stake in shares of Commvault Systems by 888.2% during the 4th quarter. Quarry LP now owns 168 shares of the software maker's stock valued at $25,000 after purchasing an additional 151 shares during the period. Aquatic Capital Management LLC increased its position in shares of Commvault Systems by 48.8% during the fourth quarter. Aquatic Capital Management LLC now owns 27,822 shares of the software maker's stock valued at $4,199,000 after buying an additional 9,122 shares during the period. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Commvault Systems in the fourth quarter worth about $332,000. Two Sigma Securities LLC bought a new position in shares of Commvault Systems in the fourth quarter valued at approximately $511,000. Finally, Nebula Research & Development LLC grew its stake in Commvault Systems by 226.8% during the fourth quarter. Nebula Research & Development LLC now owns 14,230 shares of the software maker's stock valued at $2,147,000 after acquiring an additional 9,875 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company's stock.

Insider Transactions at Commvault Systems

In other news, CEO Sanjay Mirchandani sold 12,318 shares of the company's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $185.96, for a total transaction of $2,290,655.28. Following the completion of the transaction, the chief executive officer now directly owns 427,231 shares of the company's stock, 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 legal filing with the SEC, which is accessible through this hyperlink. Also, insider Gary Merrill sold 3,287 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $186.94, for a total transaction of $614,471.78. Following the sale, the insider now owns 87,316 shares of the company's stock, valued at approximately $16,322,853.04. This represents a 3.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.00% of the company's stock.

Commvault Systems Price Performance

Shares of CVLT opened at $172.55 on Friday. Commvault Systems, Inc. has a 1 year low of $105.76 and a 1 year high of $190.11. The stock has a 50 day simple moving average of $158.48 and a two-hundred day simple moving average of $162.05. The firm has a market cap of $7.59 billion, a P/E ratio of 45.29 and a beta of 0.68.

Commvault Systems (NASDAQ:CVLT - Get Free Report) last announced 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. The company had revenue of $275.04 million during the quarter, compared to analysts' expectations of $262.52 million. Commvault Systems had a net margin of 18.14% and a return on equity of 28.69%. The firm's revenue was up 23.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.79 EPS. On average, equities analysts anticipate that Commvault Systems, Inc. will post 1.65 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have commented on CVLT. KeyCorp cut their price target on shares of Commvault Systems from $195.00 to $185.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. StockNews.com raised Commvault Systems from a "hold" rating to a "buy" rating in a research note on Thursday. DA Davidson raised their price target on Commvault Systems from $185.00 to $200.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Piper Sandler cut 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. Finally, Guggenheim reaffirmed a "neutral" rating on shares of Commvault Systems in a research note on Wednesday, April 23rd. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average 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.

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