CommVault Systems, Inc. (NASDAQ:CVLT) Shares Bought by KBC Group NV

KBC Group NV raised its holdings in CommVault Systems, Inc. (NASDAQ:CVLT) by 13.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,066 shares of the software maker’s stock after purchasing an additional 250 shares during the period. KBC Group NV’s holdings in CommVault Systems were worth $326,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Quarry LP lifted its stake in CommVault Systems by 888.2% in the 4th quarter. Quarry LP now owns 168 shares of the software maker’s stock valued at $25,000 after buying an additional 151 shares in the last quarter. Whipplewood Advisors LLC raised its holdings in shares of CommVault Systems by 584.0% in the first quarter. Whipplewood Advisors LLC now owns 171 shares of the software maker’s stock worth $27,000 after acquiring an additional 146 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in shares of CommVault Systems by 208.3% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 185 shares of the software maker’s stock worth $29,000 after acquiring an additional 125 shares during the last quarter. NBC Securities Inc. purchased a new stake in shares of CommVault Systems in the first quarter valued at $43,000. Finally, Versant Capital Management Inc boosted its stake 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 valued at $47,000 after acquiring an additional 191 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

CommVault Systems Price Performance

NASDAQ CVLT opened at $174.25 on Friday. CommVault Systems, Inc. has a 1-year low of $118.69 and a 1-year high of $192.01. The firm has a market capitalization of $7.76 billion, a P/E ratio of 103.11 and a beta of 0.73. The business’s 50-day simple moving average is $177.57 and its 200-day simple moving average is $166.70.

CommVault Systems (NASDAQ:CVLT) last issued its earnings results on Tuesday, April 29th. The software maker reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.10. CommVault Systems had a net margin of 7.64% and a return on equity of 32.31%. The business had revenue of $275.04 million for the quarter, compared to the consensus estimate of $262.52 million. During the same quarter last year, the firm posted $0.79 EPS. The business’s revenue for the quarter was up 23.2% compared to the same quarter last year. On average, equities research analysts expect that CommVault Systems, Inc. will post 1.65 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Oppenheimer boosted their target price on shares of CommVault Systems from $180.00 to $200.00 and gave the company an “outperform” rating in a research note on Wednesday, April 30th. Piper Sandler cut their price objective on shares of CommVault Systems from $154.00 to $147.00 and set a “neutral” rating for the company in a research report on Tuesday, April 8th. Wells Fargo & Company upped their price objective on shares of CommVault Systems from $180.00 to $190.00 and gave the company an “overweight” rating in a research note on Wednesday, April 30th. KeyCorp lowered their target price on shares of CommVault Systems from $195.00 to $185.00 and set an “overweight” rating for the company in a research note on Thursday, April 17th. Finally, DA Davidson boosted their price target on CommVault Systems from $185.00 to $200.00 and gave the company a “buy” rating in a report on Tuesday, April 29th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $182.86.

Insider Activity

In related news, insider Gary Merrill sold 1,748 shares of the business’s stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $174.91, for a total transaction of $305,742.68. Following the transaction, the insider directly owned 89,923 shares of the company’s stock, valued at approximately $15,728,431.93. The trade was a 1.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Sanjay Mirchandani sold 1,709 shares of the business’s stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $299,075.00. Following the transaction, the chief executive officer directly owned 469,648 shares in the company, valued at approximately $82,188,400. The trade was a 0.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,957 shares of company stock worth $859,428. 1.00% of the stock is currently owned by corporate insiders.

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.