Occudo Quantitative Strategies LP Takes $669,000 Position in Commvault Systems, Inc. (NASDAQ:CVLT)

Occudo Quantitative Strategies LP acquired a new position in Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The fund acquired 4,432 shares of the software maker's stock, valued at approximately $669,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Invesco Ltd. increased 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 acquiring an additional 607,643 shares during the last quarter. 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 purchased a new stake in Commvault Systems during the 4th quarter worth approximately $79,619,000. Caisse DE Depot ET Placement DU Quebec raised its position in shares of 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. Finally, Driehaus Capital Management LLC boosted its stake in shares of Commvault Systems by 20.8% during the 4th 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. 93.50% of the stock is owned by hedge funds and other institutional investors.

Commvault Systems Trading Up 0.4%

CVLT traded up $0.69 on Tuesday, hitting $178.84. 150,112 shares of the company's stock were exchanged, compared to its average volume of 417,670. The stock has a fifty day moving average of $161.83 and a two-hundred day moving average of $164.61. Commvault Systems, Inc. has a twelve month low of $105.76 and a twelve month high of $190.11. The firm has a market cap of $7.89 billion, a PE ratio of 46.94 and a beta of 0.71.

Commvault Systems (NASDAQ:CVLT - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The software maker reported $1.03 earnings per share for the quarter, topping 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 business had revenue of $275.04 million for the quarter, compared to analysts' expectations of $262.52 million. During the same period in the prior year, the firm earned $0.79 EPS. The business's quarterly revenue was up 23.2% on a year-over-year basis. On average, analysts predict that Commvault Systems, Inc. will post 1.65 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Sanjay Mirchandani sold 12,318 shares of the business's stock in a transaction that occurred on Wednesday, February 19th. The stock was 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 in the company, valued at approximately $79,447,876.76. The trade was a 2.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Gary Merrill sold 3,287 shares of the stock in a transaction that occurred on 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 transaction, the insider now directly owns 87,316 shares of the company's stock, valued at $16,322,853.04. This trade represents a 3.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 17,105 shares of company stock valued at $3,159,737 over the last three months. Company insiders own 1.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on CVLT shares. StockNews.com upgraded shares of Commvault Systems from a "hold" rating to a "buy" rating in a research note on Thursday, May 1st. Oppenheimer boosted their target price on shares of Commvault Systems from $180.00 to $200.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 30th. Wells Fargo & Company upped their target price on shares of Commvault Systems from $180.00 to $190.00 and gave the company an "overweight" rating in a research note on Wednesday, April 30th. Royal Bank of Canada lifted 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. Finally, DA Davidson upped their price objective on Commvault Systems from $185.00 to $200.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price 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.