CommVault Systems, Inc. (NASDAQ:CVLT) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. reduced its position in shares of CommVault Systems, Inc. (NASDAQ:CVLT) by 1.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 50,667 shares of the software maker’s stock after selling 560 shares during the period. Envestnet Asset Management Inc. owned 0.12% of CommVault Systems worth $7,993,000 at the end of the most recent quarter.

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

Insider Buying and Selling at CommVault Systems

In other news, Director Nicola Adamo sold 1,500 shares of the stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $169.74, for a total value of $254,610.00. Following the completion of the sale, the director owned 16,178 shares of the company’s stock, valued at approximately $2,746,053.72. This represents a 8.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Gary Merrill sold 1,748 shares of the firm’s stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $174.91, for a total value of $305,742.68. Following the sale, the insider directly owned 89,923 shares of the company’s stock, valued at $15,728,431.93. This represents a 1.91% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,957 shares of company stock worth $859,428. Corporate insiders own 1.00% of the company’s stock.

CommVault Systems Price Performance

Shares of CVLT stock opened at $168.73 on Tuesday. The stock has a fifty day moving average price of $177.40 and a 200 day moving average price of $167.94. CommVault Systems, Inc. has a one year low of $120.99 and a one year high of $192.01. The stock has a market cap of $7.51 billion, a P/E ratio of 99.84 and a beta of 0.73.

CommVault Systems (NASDAQ:CVLT) last released its quarterly earnings results on Tuesday, April 29th. The software maker reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.10. The business had revenue of $275.04 million during the quarter, compared to analysts’ expectations of $262.52 million. CommVault Systems had a return on equity of 32.31% and a net margin of 7.64%. The firm’s revenue for the quarter was up 23.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.79 earnings per share. Equities research analysts anticipate that CommVault Systems, Inc. will post 1.65 EPS for the current year.

Analyst Upgrades and Downgrades

CVLT has been the subject of a number of recent analyst reports. KeyCorp decreased 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 report on Thursday, April 17th. Royal Bank Of Canada upped their price target 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. Piper Sandler upped their price target on shares of CommVault Systems from $168.00 to $170.00 and gave the company a “neutral” rating in a report on Monday, July 14th. Oppenheimer upped their price target 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. Finally, Guggenheim raised shares of CommVault Systems from a “neutral” rating to a “buy” rating and set a $210.00 price target for the company in a report on Wednesday, July 16th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, CommVault Systems has an average rating of “Moderate Buy” and a consensus price target of $189.13.

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.