Sumitomo Mitsui Trust Group Inc. Purchases 352 Shares of CommVault Systems, Inc. (NASDAQ:CVLT)

Sumitomo Mitsui Trust Group Inc. lifted its position in CommVault Systems, Inc. (NASDAQ:CVLT) by 4.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,560 shares of the software maker’s stock after buying an additional 352 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in CommVault Systems were worth $1,350,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Quarry LP increased its position in shares of 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 increased its position in shares of CommVault Systems by 584.0% in the 1st quarter. Whipplewood Advisors LLC now owns 171 shares of the software maker’s stock valued at $27,000 after buying an additional 146 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its position in shares of CommVault Systems by 208.3% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 185 shares of the software maker’s stock valued at $29,000 after buying an additional 125 shares in the last quarter. NBC Securities Inc. bought a new stake in shares of CommVault Systems in the 1st quarter valued at $43,000. Finally, Versant Capital Management Inc increased its position in shares of CommVault Systems by 183.7% in the 1st quarter. Versant Capital Management Inc now owns 295 shares of the software maker’s stock valued at $47,000 after buying an additional 191 shares in the last quarter. Institutional investors own 93.50% of the company’s stock.

Insider Activity

In other news, CEO Sanjay Mirchandani sold 1,709 shares of the firm’s stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $299,075.00. Following the completion of the transaction, the chief executive officer owned 469,648 shares in the company, valued at $82,188,400. This trade represents a 0.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Nicola Adamo sold 1,500 shares of the firm’s stock in a transaction dated 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 disclosure for this sale can be found here. Insiders sold 4,957 shares of company stock worth $859,428 in the last quarter. Corporate insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on CVLT shares. Wall Street Zen upgraded shares of CommVault Systems from a “hold” rating to a “buy” rating in a research report on Thursday, May 1st. Royal Bank Of Canada increased their target price on CommVault Systems from $175.00 to $185.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 30th. Piper Sandler lowered their target price on CommVault Systems from $154.00 to $147.00 and set a “neutral” rating for the company in a report on Tuesday, April 8th. KeyCorp lowered their target price on CommVault Systems from $195.00 to $185.00 and set an “overweight” rating for the company in a report on Thursday, April 17th. Finally, DA Davidson increased their target price on CommVault Systems from $185.00 to $200.00 and gave the stock a “buy” rating in a report on Tuesday, April 29th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, CommVault Systems presently has a consensus rating of “Moderate Buy” and an average price target of $182.86.

CommVault Systems Price Performance

Shares of NASDAQ CVLT opened at $174.25 on Friday. The stock has a market capitalization of $7.76 billion, a price-to-earnings ratio of 103.11 and a beta of 0.73. The business has a 50-day moving average of $177.57 and a 200-day moving average of $166.65. CommVault Systems, Inc. has a fifty-two week low of $118.69 and a fifty-two week high of $192.01.

CommVault Systems (NASDAQ:CVLT) last announced its quarterly earnings data on Tuesday, April 29th. The software maker reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.10. The company 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%. CommVault Systems’s revenue for the quarter was up 23.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.79 EPS. On average, sell-side analysts expect 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.