Tower Research Capital LLC TRC Increases Position in Commvault Systems, Inc. (NASDAQ:CVLT)

Tower Research Capital LLC TRC increased its stake in shares of Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 223.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,084 shares of the software maker's stock after purchasing an additional 3,510 shares during the quarter. Tower Research Capital LLC TRC's holdings in Commvault Systems were worth $767,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of CVLT. Vanguard Group Inc. raised its position in Commvault Systems by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 5,636,559 shares of the software maker's stock valued at $850,613,000 after purchasing an additional 54,562 shares during the last quarter. Renaissance Technologies LLC increased its position in Commvault Systems by 1.3% in the 4th quarter. Renaissance Technologies LLC now owns 1,909,185 shares of the software maker's stock valued at $288,115,000 after acquiring an additional 24,900 shares during the period. Invesco Ltd. raised its stake in Commvault Systems by 57.7% during the 4th quarter. Invesco Ltd. now owns 1,660,108 shares of the software maker's stock valued at $250,527,000 after acquiring an additional 607,643 shares during the last quarter. Geode Capital Management LLC lifted its position in Commvault Systems by 3.5% during the 4th quarter. Geode Capital Management LLC now owns 1,288,068 shares of the software maker's stock worth $194,681,000 after acquiring an additional 43,088 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Commvault Systems by 604.8% in the 4th 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 last quarter. Hedge funds and other institutional investors own 93.50% of the company's stock.

Insider Buying and Selling

In related news, CEO Sanjay Mirchandani sold 12,318 shares of Commvault Systems 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 $79,447,876.76. The trade was a 2.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Gary Merrill sold 3,287 shares of the stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $186.94, for a total value of $614,471.78. Following the sale, the insider now owns 87,316 shares in the company, valued at approximately $16,322,853.04. This trade represents a 3.63 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.00% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. William Blair raised Commvault Systems from a "market perform" rating to an "outperform" rating in a report on Thursday, January 30th. StockNews.com raised shares of Commvault Systems from a "hold" rating to a "buy" rating in a report on Tuesday, February 25th. Piper Sandler cut their price target on shares of Commvault Systems from $154.00 to $147.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. Cantor Fitzgerald lifted their price objective on Commvault Systems from $159.00 to $173.00 and gave the company a "neutral" rating in a report on Wednesday, January 29th. Finally, KeyCorp dropped their target price on Commvault Systems from $195.00 to $185.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, Commvault Systems has an average rating of "Moderate Buy" and an average price target of $166.67.

Commvault Systems Price Performance

Commvault Systems stock traded down $0.97 during mid-day trading on Thursday, reaching $166.16. The company had a trading volume of 334,737 shares, compared to its average volume of 413,778. The stock's 50-day simple moving average is $158.49 and its 200-day simple moving average is $161.76. The company has a market capitalization of $7.31 billion, a P/E ratio of 43.82 and a beta of 0.68. Commvault Systems, Inc. has a 1 year low of $101.54 and a 1 year high of $190.11.

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 for the quarter, beating the consensus estimate of $0.93 by $0.10. The firm had revenue of $275.04 million during the quarter, compared to the consensus estimate of $262.52 million. Commvault Systems had a return on equity of 28.69% and a net margin of 18.14%. Commvault Systems's quarterly revenue was up 23.2% on a year-over-year basis. During the same period last year, the business posted $0.79 EPS. On average, equities analysts forecast that Commvault Systems, Inc. will post 1.65 EPS for the current fiscal year.

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.