Allspring Global Investments Holdings LLC Lowers Stock Holdings in Commvault Systems, Inc. (NASDAQ:CVLT)

Allspring Global Investments Holdings LLC reduced its position in shares of Commvault Systems, Inc. (NASDAQ:CVLT) by 8.5% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 36,012 shares of the software maker’s stock after selling 3,362 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Commvault Systems were worth $2,876,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Quarry LP purchased a new position in shares of Commvault Systems during the first quarter worth $26,000. Captrust Financial Advisors boosted its holdings in Commvault Systems by 64.0% in the second quarter. Captrust Financial Advisors now owns 510 shares of the software maker’s stock valued at $32,000 after purchasing an additional 199 shares during the period. Altshuler Shaham Ltd purchased a new position in Commvault Systems in the fourth quarter valued at $33,000. Quantbot Technologies LP purchased a new position in Commvault Systems in the second quarter valued at $64,000. Finally, Dark Forest Capital Management LP boosted its holdings in Commvault Systems by 223.8% in the first quarter. Dark Forest Capital Management LP now owns 1,224 shares of the software maker’s stock valued at $69,000 after purchasing an additional 846 shares during the period. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Commvault Systems Price Performance

Commvault Systems stock opened at $94.87 on Friday. Commvault Systems, Inc. has a 1-year low of $56.76 and a 1-year high of $102.21. The stock has a market cap of $4.15 billion, a PE ratio of -3,161.28 and a beta of 0.62. The stock’s fifty day moving average is $97.12 and its two-hundred day moving average is $82.87.

Commvault Systems (NASDAQ:CVLT) last posted its quarterly earnings results on Tuesday, January 30th. The software maker reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.05. Commvault Systems had a positive return on equity of 32.27% and a negative net margin of 0.09%. The company had revenue of $216.81 million for the quarter, compared to analysts’ expectations of $208.01 million. During the same period last year, the firm earned $0.17 earnings per share. Commvault Systems’s quarterly revenue was up 11.1% on a year-over-year basis. On average, research analysts expect that Commvault Systems, Inc. will post 1.35 earnings per share for the current fiscal year.

Insider Buying and Selling at Commvault Systems

In other Commvault Systems news, CEO Sanjay Mirchandani sold 21,494 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $97.82, for a total value of $2,102,543.08. Following the sale, the chief executive officer now directly owns 399,356 shares in the company, valued at $39,065,003.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Allison Pickens sold 990 shares of Commvault Systems stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $94.73, for a total transaction of $93,782.70. Following the sale, the director now owns 7,206 shares in the company, valued at $682,624.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sanjay Mirchandani sold 21,494 shares of Commvault Systems stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $97.82, for a total value of $2,102,543.08. Following the sale, the chief executive officer now owns 399,356 shares in the company, valued at approximately $39,065,003.92. The disclosure for this sale can be found here. Insiders have sold a total of 23,306 shares of company stock worth $2,276,265 over the last ninety days. Corporate insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

CVLT has been the subject of a number of recent research reports. KeyCorp upgraded Commvault Systems from a “sector weight” rating to an “overweight” rating and set a $109.00 target price for the company in a report on Wednesday, January 31st. Royal Bank of Canada lifted their target price on Commvault Systems from $86.00 to $97.00 and gave the company a “sector perform” rating in a report on Wednesday, January 31st. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $85.60.

Commvault Systems Company 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.