Price T Rowe Associates Inc. MD Has $74.26 Million Stock Position in Commvault Systems, Inc. (NASDAQ:CVLT)

Price T Rowe Associates Inc. MD lifted its holdings in Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 21.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 492,045 shares of the software maker's stock after purchasing an additional 86,736 shares during the period. Price T Rowe Associates Inc. MD owned 1.12% of Commvault Systems worth $74,255,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in CVLT. Invesco Ltd. lifted its stake in shares of Commvault Systems by 57.7% in the fourth quarter. Invesco Ltd. now owns 1,660,108 shares of the software maker's stock valued at $250,527,000 after buying an additional 607,643 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of Commvault Systems by 604.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 647,525 shares of the software maker's stock valued at $98,479,000 after purchasing an additional 555,656 shares during the period. Norges Bank acquired a new position in shares of Commvault Systems in the fourth quarter valued at $79,619,000. WCM Investment Management LLC bought a new position in Commvault Systems in the fourth quarter worth $10,303,000. Finally, Sei Investments Co. increased its holdings in Commvault Systems by 63.9% in the 4th quarter. Sei Investments Co. now owns 157,111 shares of the software maker's stock valued at $23,708,000 after buying an additional 61,243 shares during the period. Institutional investors and hedge funds own 93.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CVLT. KeyCorp decreased their target price on shares of Commvault Systems from $195.00 to $185.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Royal Bank of Canada lifted their price objective on Commvault Systems from $175.00 to $185.00 and gave the company a "sector perform" rating in a report on Wednesday. Oppenheimer increased their target price on Commvault Systems from $180.00 to $200.00 and gave the stock an "outperform" rating in a report on Wednesday. Wells Fargo & Company boosted their price target on Commvault Systems from $180.00 to $190.00 and gave the company an "overweight" rating in a research note on Wednesday. Finally, Cantor Fitzgerald upped their price target on Commvault Systems from $159.00 to $173.00 and gave the company a "neutral" rating in a research report on Wednesday, January 29th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $166.67.

Commvault Systems Trading Down 0.7 %

Shares of Commvault Systems stock traded down $1.11 during trading on Thursday, reaching $166.02. The company's stock had a trading volume of 516,692 shares, compared to its average volume of 414,203. Commvault Systems, Inc. has a one year low of $102.73 and a one year high of $190.11. The stock has a 50-day moving average price of $158.49 and a two-hundred day moving average price of $161.76. The stock has a market capitalization of $7.30 billion, a P/E ratio of 43.57 and a beta of 0.68.

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 for the quarter, beating analysts' consensus estimates 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%. Commvault Systems's revenue for the quarter was up 23.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.79 earnings per share. As a group, sell-side analysts anticipate that Commvault Systems, Inc. will post 1.65 EPS for the current fiscal year.

Insider Activity at Commvault Systems

In other Commvault Systems news, insider Gary Merrill sold 3,287 shares of the company's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $186.94, for a total transaction of $614,471.78. Following the completion of the sale, the insider now owns 87,316 shares in the company, valued at approximately $16,322,853.04. The trade was a 3.63 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, 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 value of $2,290,655.28. Following the completion of the sale, the chief executive officer now owns 427,231 shares of the company's stock, valued at $79,447,876.76. This represents a 2.80 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is 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.