Elevation Point Wealth Partners LLC Acquires Shares of 1,539 Commvault Systems, Inc. (NASDAQ:CVLT)

Elevation Point Wealth Partners LLC acquired a new stake in shares of Commvault Systems, Inc. (NASDAQ:CVLTFree Report) during the first quarter, Holdings Channel.com reports. The firm acquired 1,539 shares of the software maker’s stock, valued at approximately $243,000.

A number of other hedge funds have also recently made changes to their positions in CVLT. Quarry LP grew its holdings in shares of Commvault Systems by 888.2% in the fourth quarter. Quarry LP now owns 168 shares of the software maker’s stock worth $25,000 after purchasing an additional 151 shares during the last quarter. Whipplewood Advisors LLC grew its holdings in shares of Commvault Systems by 584.0% in the first 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 last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Commvault Systems by 208.3% in the first 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 last quarter. NBC Securities Inc. bought a new position in shares of Commvault Systems in the first quarter worth about $43,000. Finally, Versant Capital Management Inc grew its holdings in shares of Commvault Systems by 183.7% in the first quarter. Versant Capital Management Inc now owns 295 shares of the software maker’s stock worth $47,000 after purchasing an additional 191 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CVLT. Wall Street Zen upgraded shares of Commvault Systems from a “hold” rating to a “buy” rating in a report on Thursday, May 1st. KeyCorp decreased their price target on shares of Commvault Systems from $195.00 to $185.00 and set an “overweight” rating for the company in a research report on Thursday, April 17th. Wells Fargo & Company increased their price target 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. Piper Sandler decreased their price target on shares of Commvault Systems from $154.00 to $147.00 and set a “neutral” rating for the company in a research report on Tuesday, April 8th. Finally, DA Davidson increased their price target on shares of Commvault Systems from $185.00 to $200.00 and gave the company a “buy” rating in a research report on Tuesday, April 29th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $175.25.

View Our Latest Research Report on CVLT

Commvault Systems Price Performance

Shares of NASDAQ CVLT opened at $187.54 on Tuesday. The stock has a market capitalization of $8.28 billion, a price-to-earnings ratio of 49.22 and a beta of 0.75. Commvault Systems, Inc. has a 12 month low of $116.45 and a 12 month high of $192.01. The firm’s 50 day simple moving average is $171.64 and its 200-day simple moving average is $166.26.

Commvault Systems (NASDAQ:CVLTGet Free Report) last issued its quarterly earnings data 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 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 18.14% and a return on equity of 28.69%. The business’s revenue was up 23.2% on a year-over-year basis. During the same quarter last year, the company earned $0.79 EPS. Analysts anticipate that Commvault Systems, Inc. will post 1.65 earnings per share for the current fiscal year.

Insider Activity at Commvault Systems

In related news, insider Gary Merrill sold 1,748 shares of the business’s stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $174.91, for a total value of $305,742.68. Following the completion of the sale, the insider now owns 89,923 shares of the company’s stock, valued at approximately $15,728,431.93. The trade was a 1.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sanjay Mirchandani sold 1,709 shares of the business’s stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $299,075.00. Following the completion of the sale, the chief executive officer now directly owns 469,648 shares of the company’s stock, valued at approximately $82,188,400. The trade was a 0.36% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,957 shares of company stock valued at $859,428. 1.00% of the stock is owned by company insiders.

Commvault Systems Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Commvault Systems (NASDAQ:CVLT)

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