American Trust boosted its holdings in shares of Commvault Systems, Inc. (NASDAQ:CVLT – Get Rating) by 5.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,424 shares of the software maker's stock after buying an additional 247 shares during the period. American Trust's holdings in Commvault Systems were worth $294,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of the business. Bank of America Corp DE boosted its stake in shares of Commvault Systems by 12.0% in the 1st quarter. Bank of America Corp DE now owns 326,346 shares of the software maker's stock valued at $21,652,000 after purchasing an additional 34,888 shares in the last quarter. Zebra Capital Management LLC boosted its stake in shares of Commvault Systems by 16.6% in the 1st quarter. Zebra Capital Management LLC now owns 3,907 shares of the software maker's stock valued at $259,000 after purchasing an additional 557 shares in the last quarter. Jane Street Group LLC boosted its stake in shares of Commvault Systems by 53.6% in the 1st quarter. Jane Street Group LLC now owns 17,662 shares of the software maker's stock valued at $1,172,000 after purchasing an additional 6,162 shares in the last quarter. Royal Bank of Canada boosted its stake in shares of Commvault Systems by 0.4% in the 1st quarter. Royal Bank of Canada now owns 413,090 shares of the software maker's stock valued at $27,408,000 after purchasing an additional 1,796 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Commvault Systems in the 1st quarter valued at $225,000. Institutional investors and hedge funds own 93.97% of the company's stock.
Get Commvault Systems alerts:Analysts Set New Price Targets
Several equities research analysts have recently commented on the stock. Wells Fargo & Company reduced their target price on shares of Commvault Systems to $75.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 27th. Piper Sandler downgraded shares of Commvault Systems from an "overweight" rating to a "neutral" rating and reduced their target price for the company from $78.00 to $69.00 in a research note on Wednesday, July 13th. Finally, Lake Street Capital cut their price target on Commvault Systems from $68.00 to $64.00 in a report on Wednesday, July 27th. Four equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $74.67.
Insiders Place Their Bets
In other Commvault Systems news, Director Allison Pickens sold 500 shares of the business's stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $58.15, for a total transaction of $29,075.00. Following the completion of the sale, the director now directly owns 6,258 shares of the company's stock, valued at approximately $363,902.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.00% of the company's stock.Commvault Systems Trading Up 1.5 %
Shares of NASDAQ:CVLT opened at $51.84 on Monday. The stock has a market capitalization of $2.32 billion, a P/E ratio of 103.68, a P/E/G ratio of 8.75 and a beta of 0.51. Commvault Systems, Inc. has a 1-year low of $50.26 and a 1-year high of $78.55. The business has a 50-day moving average price of $56.71 and a two-hundred day moving average price of $60.68.
Commvault Systems (NASDAQ:CVLT – Get Rating) last announced its quarterly earnings data on Tuesday, July 26th. The software maker reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.01. The firm had revenue of $197.90 million during the quarter, compared to analysts' expectations of $195.21 million. Commvault Systems had a return on equity of 13.33% and a net margin of 2.96%. The company's quarterly revenue was up 7.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.34 EPS. As a group, equities analysts predict that Commvault Systems, Inc. will post 0.59 EPS for the current year.
About Commvault Systems
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Commvault Systems, Inc provides data protection and information management software applications and related services 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; and Commvault Complete Data Protection, a data protection solution.
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