NBC Securities Inc. Takes $43,000 Position in Commvault Systems, Inc. (NASDAQ:CVLT)

NBC Securities Inc. acquired a new stake in shares of Commvault Systems, Inc. (NASDAQ:CVLT) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 273 shares of the software maker’s stock, valued at approximately $43,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Quarry LP boosted its holdings in shares of Commvault Systems by 888.2% during the fourth quarter. Quarry LP now owns 168 shares of the software maker’s stock worth $25,000 after purchasing an additional 151 shares during the period. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Commvault Systems by 208.3% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 185 shares of the software maker’s stock worth $29,000 after purchasing an additional 125 shares during the period. Versant Capital Management Inc boosted its holdings in shares of Commvault Systems by 183.7% during the first quarter. Versant Capital Management Inc now owns 295 shares of the software maker’s stock worth $47,000 after purchasing an additional 191 shares during the period. Point72 Asia Singapore Pte. Ltd. boosted its holdings in shares of Commvault Systems by 409.0% during the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 341 shares of the software maker’s stock worth $51,000 after purchasing an additional 274 shares during the period. Finally, TFC Financial Management Inc. boosted its holdings in shares of Commvault Systems by 294.1% during the fourth quarter. TFC Financial Management Inc. now owns 402 shares of the software maker’s stock worth $61,000 after purchasing an additional 300 shares during the period. 93.50% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. DA Davidson raised their price objective on shares of Commvault Systems from $185.00 to $200.00 and gave the stock a “buy” rating in a report on Tuesday, April 29th. Guggenheim restated a “neutral” rating on shares of Commvault Systems in a report on Wednesday, April 23rd. Wall Street Zen upgraded shares of Commvault Systems from a “hold” rating to a “buy” rating in a report on Thursday, May 1st. 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, April 30th. Finally, Oppenheimer lifted their target price on shares of Commvault Systems from $180.00 to $200.00 and gave the company an “outperform” rating in a report on Wednesday, April 30th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Commvault Systems has a consensus rating of “Moderate Buy” and an average price target of $175.25.

Commvault Systems Stock Down 1.2%

Shares of NASDAQ CVLT opened at $186.09 on Friday. Commvault Systems, Inc. has a twelve month low of $113.83 and a twelve month high of $192.01. The firm has a market cap of $8.21 billion, a P/E ratio of 48.84 and a beta of 0.75. The company has a 50 day moving average of $168.93 and a 200 day moving average of $166.11.

Commvault Systems (NASDAQ:CVLT) last posted its earnings results on Tuesday, April 29th. The software maker reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.10. Commvault Systems had a net margin of 18.14% and a return on equity of 28.69%. The business had revenue of $275.04 million during the quarter, compared to the consensus estimate of $262.52 million. During the same quarter in the previous year, the firm posted $0.79 EPS. The firm’s revenue was up 23.2% on a year-over-year basis. As a group, equities analysts expect that Commvault Systems, Inc. will post 1.65 earnings per share for the current fiscal year.

Insider Transactions at Commvault Systems

In other news, Director Nicola Adamo sold 1,500 shares of the business’s stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $169.74, for a total transaction of $254,610.00. Following the completion of the sale, the director now owns 16,178 shares of the company’s stock, valued at $2,746,053.72. The trade was a 8.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Sanjay Mirchandani sold 1,709 shares of the business’s stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $299,075.00. Following the sale, the chief executive officer now directly owns 469,648 shares of the company’s stock, valued at approximately $82,188,400. The trade was a 0.36% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,957 shares of company stock worth $859,428 in the last quarter. Company insiders own 1.00% of the company’s stock.

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.