Envestnet Asset Management Inc. Lowers Stock Holdings in CommVault Systems, Inc. (NASDAQ:CVLT)

Envestnet Asset Management Inc. lessened its position in shares of CommVault Systems, Inc. (NASDAQ:CVLT) by 1.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 50,667 shares of the software maker’s stock after selling 560 shares during the period. Envestnet Asset Management Inc. owned approximately 0.12% of CommVault Systems worth $7,993,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of CVLT. Benjamin Edwards Inc. increased its position in CommVault Systems by 3.3% in the 4th quarter. Benjamin Edwards Inc. now owns 1,803 shares of the software maker’s stock valued at $272,000 after acquiring an additional 58 shares during the period. Hancock Whitney Corp boosted its stake in shares of CommVault Systems by 1.0% during the 4th quarter. Hancock Whitney Corp now owns 5,781 shares of the software maker’s stock worth $872,000 after acquiring an additional 60 shares in the last quarter. NorthCrest Asset Manangement LLC lifted its holdings in shares of 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. raised its holdings in shares of CommVault Systems by 6.7% during the first quarter. Johnson Investment Counsel Inc. now owns 1,451 shares of the software maker’s stock worth $229,000 after acquiring an additional 91 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund raised its holdings in shares of CommVault Systems by 1.1% during the first quarter. Oregon Public Employees Retirement Fund now owns 8,979 shares of the software maker’s stock worth $1,417,000 after acquiring an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on CVLT shares. KeyCorp lowered their price target on CommVault Systems from $195.00 to $185.00 and set an “overweight” rating on the stock in a research note on Thursday, April 17th. Wells Fargo & Company upped their target price on shares of CommVault Systems from $180.00 to $190.00 and gave the company an “overweight” rating in a research report on Wednesday, April 30th. Wall Street Zen raised shares of CommVault Systems from a “hold” rating to a “buy” rating in a report on Thursday, May 1st. Guggenheim raised shares of CommVault Systems from a “neutral” rating to a “buy” rating and set a $210.00 target price for the company in a research note on Wednesday, July 16th. Finally, DA Davidson reduced their target price on shares of CommVault Systems from $215.00 to $200.00 and set a “buy” rating for the company in a research note on Wednesday, July 16th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $189.13.

CommVault Systems Price Performance

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

CommVault Systems (NASDAQ:CVLT) last released its quarterly earnings results on Tuesday, April 29th. The software maker reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.10. The business had revenue of $275.04 million for the quarter, compared to analysts’ expectations of $262.52 million. CommVault Systems had a net margin of 7.64% and a return on equity of 32.31%. 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 company earned $0.79 earnings per share. As a group, equities research analysts anticipate that CommVault Systems, Inc. will post 1.65 earnings per share for the current fiscal year.

Insider Buying and Selling

In other CommVault Systems news, Director Nicola Adamo sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $169.74, for a total value of $254,610.00. Following the completion of the transaction, the director owned 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Gary Merrill sold 1,748 shares of the company’s stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $174.91, for a total transaction of $305,742.68. Following the completion of 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,957 shares of company stock valued at $859,428. Company insiders own 1.00% of the company’s stock.

About CommVault Systems

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.