Victory Capital Management Inc. Acquires 10,136 Shares of CommVault Systems, Inc. (NASDAQ:CVLT)

Victory Capital Management Inc. boosted its position in shares of CommVault Systems, Inc. (NASDAQ:CVLT) by 23.0% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 54,148 shares of the software maker’s stock after purchasing an additional 10,136 shares during the quarter. Victory Capital Management Inc.’s holdings in CommVault Systems were worth $8,542,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. SBI Securities Co. Ltd. increased its holdings in CommVault Systems by 101.3% during the 1st quarter. SBI Securities Co. Ltd. now owns 159 shares of the software maker’s stock worth $25,000 after purchasing an additional 80 shares during the period. Quarry LP increased its holdings in CommVault Systems by 888.2% during the 4th quarter. Quarry LP now owns 168 shares of the software maker’s stock worth $25,000 after purchasing an additional 151 shares during the period. Whipplewood Advisors LLC increased its holdings in CommVault Systems by 584.0% during the 1st quarter. Whipplewood Advisors LLC now owns 171 shares of the software maker’s stock worth $27,000 after purchasing an additional 146 shares during the period. MassMutual Private Wealth & Trust FSB increased its holdings in CommVault Systems by 208.3% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 185 shares of the software maker’s stock worth $29,000 after purchasing an additional 125 shares during the period. Finally, NBC Securities Inc. purchased a new position in CommVault Systems during the 1st quarter worth $43,000. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other CommVault Systems news, Director Nicola Adamo sold 1,500 shares of CommVault Systems stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $169.74, for a total transaction 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. The trade was a 8.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Gary Merrill sold 1,748 shares of CommVault Systems stock in a transaction dated Thursday, May 22nd. The stock was 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 approximately $15,728,431.93. This represents a 1.91% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,957 shares of company stock worth $859,428 in the last ninety days. 1.00% of the stock is owned by insiders.

CommVault Systems Price Performance

Shares of CVLT stock opened at $165.97 on Friday. CommVault Systems, Inc. has a 1-year low of $120.99 and a 1-year high of $192.01. The stock’s fifty day moving average price is $176.54 and its 200 day moving average price is $167.97. The company has a market cap of $7.39 billion, a price-to-earnings ratio of 98.21 and a beta of 0.73.

CommVault Systems (NASDAQ:CVLT) last announced its 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. CommVault Systems had a return on equity of 32.31% and a net margin of 7.64%. The firm had revenue of $275.04 million for the quarter, compared to the consensus estimate of $262.52 million. During the same period in the previous year, the business earned $0.79 EPS. The firm’s revenue for the quarter was up 23.2% on a year-over-year basis. As a group, equities research analysts anticipate that CommVault Systems, Inc. will post 1.65 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have commented on CVLT. Royal Bank Of Canada raised their price objective on CommVault Systems from $175.00 to $185.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 30th. Oppenheimer lifted their price target on CommVault Systems from $180.00 to $200.00 and gave the company an “outperform” rating in a report on Wednesday, April 30th. KeyCorp cut their price target on CommVault Systems from $195.00 to $185.00 and set an “overweight” rating on the stock in a report on Thursday, April 17th. Piper Sandler lifted their price target on CommVault Systems from $168.00 to $170.00 and gave the company a “neutral” rating in a report on Monday, July 14th. Finally, Guggenheim upgraded CommVault Systems from a “neutral” rating to a “buy” rating and set a $210.00 price target on the stock in a report on Wednesday, July 16th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, CommVault Systems presently has an average rating of “Moderate Buy” and a consensus target price of $189.13.

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.