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

Envestnet Asset Management Inc. lessened its holdings in CommVault Systems, Inc. (NASDAQ:CVLT) by 1.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 50,667 shares of the software maker’s stock after selling 560 shares during the quarter. Envestnet Asset Management Inc. owned 0.12% of CommVault Systems worth $7,993,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Benjamin Edwards Inc. lifted its holdings in CommVault Systems by 3.3% in the fourth quarter. Benjamin Edwards Inc. now owns 1,803 shares of the software maker’s stock valued at $272,000 after buying an additional 58 shares during the period. Hancock Whitney Corp increased its stake in CommVault Systems by 1.0% in the fourth quarter. Hancock Whitney Corp now owns 5,781 shares of the software maker’s stock valued at $872,000 after purchasing an additional 60 shares in the last quarter. NorthCrest Asset Manangement LLC increased its stake in CommVault Systems by 1.3% in the first quarter. NorthCrest Asset Manangement LLC now owns 5,753 shares of the software maker’s stock valued at $908,000 after purchasing an additional 72 shares in the last quarter. Johnson Investment Counsel Inc. increased its stake in CommVault Systems by 6.7% in the first quarter. Johnson Investment Counsel Inc. now owns 1,451 shares of the software maker’s stock valued at $229,000 after purchasing an additional 91 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund increased its stake in CommVault Systems by 1.1% in the first quarter. Oregon Public Employees Retirement Fund now owns 8,979 shares of the software maker’s stock valued at $1,417,000 after purchasing an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CVLT. Guggenheim raised shares of CommVault Systems from a “neutral” rating to a “buy” rating and set a $210.00 price objective for the company in a research report on Wednesday, July 16th. Royal Bank Of Canada increased their price objective on shares of CommVault Systems from $175.00 to $185.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 30th. Piper Sandler increased their price objective on shares of CommVault Systems from $168.00 to $170.00 and gave the stock a “neutral” rating in a research report on Monday, July 14th. Oppenheimer increased their target price on shares of CommVault Systems from $180.00 to $200.00 and gave the stock an “outperform” rating in a report on Wednesday, April 30th. Finally, Wall Street Zen upgraded shares of CommVault Systems from a “hold” rating to a “buy” rating in a report on Thursday, May 1st. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $189.13.

Insider Buying and Selling at CommVault Systems

In related news, insider Gary Merrill sold 1,748 shares of the firm’s stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $174.91, for a total transaction 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 trade represents a 1.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Nicola Adamo sold 1,500 shares of the firm’s stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $169.74, for a total value of $254,610.00. Following the sale, the director directly owned 16,178 shares in the company, valued at approximately $2,746,053.72. This trade represents a 8.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,957 shares of company stock worth $859,428. 1.00% of the stock is owned by insiders.

CommVault Systems Price Performance

CVLT opened at $168.73 on Tuesday. The stock has a 50-day moving average price of $177.40 and a 200-day moving average price of $167.94. The firm has a market cap of $7.51 billion, a PE ratio of 99.84 and a beta of 0.73. CommVault Systems, Inc. has a 1 year low of $120.99 and a 1 year high of $192.01.

CommVault Systems (NASDAQ:CVLT) last posted its quarterly 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. The company had revenue of $275.04 million for 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 was up 23.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.79 EPS. As a group, sell-side analysts anticipate that CommVault Systems, Inc. will post 1.65 EPS for the current year.

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.