Millennium Management LLC Purchases 68,238 Shares of Commvault Systems, Inc. (NASDAQ:CVLT)

Millennium Management LLC grew its position in shares of Commvault Systems, Inc. (NASDAQ:CVLT) by 103.0% in the 4th quarter, Holdings Channel reports. The firm owned 134,517 shares of the software maker’s stock after acquiring an additional 68,238 shares during the quarter. Millennium Management LLC’s holdings in Commvault Systems were worth $20,300,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Benjamin Edwards Inc. raised its holdings in Commvault Systems by 3.3% during the 4th quarter. Benjamin Edwards Inc. now owns 1,803 shares of the software maker’s stock worth $272,000 after purchasing an additional 58 shares during the last quarter. Hancock Whitney Corp raised its holdings in 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 purchasing an additional 60 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in Commvault Systems by 3.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,960 shares of the software maker’s stock worth $296,000 after purchasing an additional 66 shares during the last quarter. CIBC Asset Management Inc raised its holdings in Commvault Systems by 5.6% during the 4th quarter. CIBC Asset Management Inc now owns 1,413 shares of the software maker’s stock worth $213,000 after purchasing an additional 75 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in shares of Commvault Systems by 4.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,439 shares of the software maker’s stock valued at $368,000 after acquiring an additional 93 shares in the last quarter. Institutional investors own 93.50% of the company’s stock.

Commvault Systems Trading Up 0.8%

Shares of CVLT stock opened at $179.51 on Wednesday. The firm has a market capitalization of $7.92 billion, a PE ratio of 47.12 and a beta of 0.71. The firm has a fifty day simple moving average of $161.83 and a two-hundred day simple moving average of $164.61. Commvault Systems, Inc. has a 12 month low of $105.76 and a 12 month high of $190.11.

Commvault Systems (NASDAQ:CVLT) last announced its quarterly 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. The business had revenue of $275.04 million during the quarter, compared to analyst estimates of $262.52 million. Commvault Systems had a net margin of 18.14% and a return on equity of 28.69%. Commvault Systems’s quarterly revenue was up 23.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.79 EPS. On average, equities analysts predict that Commvault Systems, Inc. will post 1.65 earnings per share for the current fiscal year.

Analyst Ratings Changes

CVLT has been the subject of several research analyst reports. Cantor Fitzgerald lifted their price objective on shares of Commvault Systems from $159.00 to $173.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Piper Sandler lowered 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 note on Tuesday, April 8th. Oppenheimer lifted their price objective 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. KeyCorp lowered their price objective 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, Wells Fargo & Company lifted 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. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $175.25.

Insiders Place Their Bets

In other Commvault Systems news, Director Nicola Adamo sold 1,500 shares of Commvault Systems 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 transaction, the director now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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.