Commvault Systems, Inc. (NASDAQ:CVLT) Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp grew its stake in Commvault Systems, Inc. (NASDAQ:CVLT) by 6.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 489,101 shares of the software maker’s stock after purchasing an additional 31,015 shares during the period. Bank of New York Mellon Corp owned approximately 1.12% of Commvault Systems worth $59,460,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of CVLT. Vanguard Group Inc. grew its position in Commvault Systems by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 5,531,703 shares of the software maker’s stock valued at $561,081,000 after buying an additional 43,333 shares during the last quarter. Acadian Asset Management LLC boosted its holdings in shares of Commvault Systems by 16.3% in the first quarter. Acadian Asset Management LLC now owns 1,596,635 shares of the software maker’s stock valued at $161,914,000 after acquiring an additional 223,347 shares in the last quarter. Champlain Investment Partners LLC increased its stake in shares of Commvault Systems by 58.5% during the first quarter. Champlain Investment Partners LLC now owns 825,236 shares of the software maker’s stock worth $83,704,000 after acquiring an additional 304,459 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Commvault Systems by 2.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 472,291 shares of the software maker’s stock worth $37,712,000 after purchasing an additional 12,624 shares in the last quarter. Finally, Norges Bank acquired a new stake in Commvault Systems in the fourth quarter valued at about $24,134,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Commvault Systems Stock Up 1.8 %

Commvault Systems stock opened at $155.40 on Friday. The firm has a market capitalization of $6.80 billion, a PE ratio of 41.33 and a beta of 0.61. Commvault Systems, Inc. has a 52 week low of $63.70 and a 52 week high of $156.00. The firm’s 50-day simple moving average is $135.11 and its 200 day simple moving average is $114.25.

Commvault Systems (NASDAQ:CVLT) last announced its quarterly earnings results on Tuesday, July 30th. The software maker reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.12. Commvault Systems had a net margin of 20.19% and a return on equity of 32.16%. The company had revenue of $224.67 million for the quarter, compared to the consensus estimate of $215.54 million. During the same quarter in the prior year, the firm earned $0.29 earnings per share. The company’s revenue for the quarter was up 13.4% compared to the same quarter last year. On average, research analysts expect that Commvault Systems, Inc. will post 1.71 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CVLT has been the topic of several recent analyst reports. Royal Bank of Canada boosted their target price on Commvault Systems from $121.00 to $152.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 31st. StockNews.com lowered Commvault Systems from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 31st. Wells Fargo & Company raised their target price on Commvault Systems from $125.00 to $140.00 and gave the company an “overweight” rating in a report on Thursday, May 16th. Guggenheim reaffirmed a “buy” rating and set a $122.00 price target on shares of Commvault Systems in a research note on Tuesday, June 25th. Finally, Piper Sandler raised their price objective on shares of Commvault Systems from $107.00 to $123.00 and gave the company a “neutral” rating in a research note on Monday, July 15th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $134.29.

Insider Activity at Commvault Systems

In other Commvault Systems news, insider Gary Merrill sold 17,388 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $150.76, for a total transaction of $2,621,414.88. Following the completion of the transaction, the insider now owns 94,530 shares of the company’s stock, valued at $14,251,342.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.00% of the stock is owned by corporate 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.