18,651 Shares in Commvault Systems, Inc. (NASDAQ:CVLT) Bought by Raymond James Financial Inc.

Raymond James Financial Inc. acquired a new position in shares of Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 18,651 shares of the software maker's stock, valued at approximately $2,815,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. TFC Financial Management Inc. raised its holdings in shares of Commvault Systems by 294.1% during the 4th quarter. TFC Financial Management Inc. now owns 402 shares of the software maker's stock worth $61,000 after acquiring an additional 300 shares during the period. Blue Trust Inc. raised its position in shares of Commvault Systems by 37,400.0% during the 4th quarter. Blue Trust Inc. now owns 750 shares of the software maker's stock valued at $113,000 after buying an additional 748 shares during the period. Meeder Asset Management Inc. acquired a new stake in Commvault Systems during the fourth quarter worth $127,000. GAMMA Investing LLC raised its holdings in Commvault Systems by 13.7% in the 4th quarter. GAMMA Investing LLC now owns 1,006 shares of the software maker's stock valued at $152,000 after buying an additional 121 shares during the period. Finally, AlphaQuest LLC lifted its position in Commvault Systems by 69.1% in the fourth quarter. AlphaQuest LLC now owns 1,023 shares of the software maker's stock valued at $154,000 after buying an additional 418 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on CVLT shares. Guggenheim reiterated a "neutral" rating on shares of Commvault Systems in a research report on Wednesday, April 23rd. Royal Bank of Canada lifted their target price on shares of Commvault Systems from $175.00 to $185.00 and gave the company a "sector perform" rating in a report on Wednesday. Oppenheimer upped 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 Commvault Systems from a "market perform" rating to an "outperform" rating in a research note on Thursday, January 30th. Finally, Piper Sandler decreased their target price on Commvault Systems from $154.00 to $147.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $166.67.

Insiders Place Their Bets

In other Commvault Systems news, insider Gary Merrill sold 3,287 shares of the firm'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 transaction, the insider now directly owns 87,316 shares of the company's stock, valued at approximately $16,322,853.04. This trade represents a 3.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 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 transaction of $2,290,655.28. Following the completion of the sale, the chief executive officer now directly owns 427,231 shares of the company's stock, valued at $79,447,876.76. The trade was a 2.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by corporate insiders.

Commvault Systems Price Performance

Shares of NASDAQ CVLT traded down $1.11 during midday trading on Thursday, hitting $166.02. 516,692 shares of the company's stock were exchanged, compared to its average volume of 414,373. The firm's fifty day simple moving average is $158.49 and its 200-day simple moving average is $161.76. Commvault Systems, Inc. has a twelve month low of $101.54 and a twelve month high of $190.11. The company has a market cap of $7.30 billion, a PE ratio of 43.57 and a beta of 0.68.

Commvault Systems (NASDAQ:CVLT - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The software maker reported $1.03 earnings per share (EPS) for the quarter, topping 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 company had revenue of $275.04 million for the quarter, compared to analyst estimates of $262.52 million. During the same quarter last year, the company posted $0.79 earnings per share. The business's quarterly revenue was up 23.2% compared to the same quarter last year. Equities analysts anticipate that Commvault Systems, Inc. will post 1.65 EPS for the current fiscal year.

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.