NorthCrest Asset Manangement LLC Grows Stock Holdings in Commvault Systems, Inc. (NASDAQ:CVLT)

NorthCrest Asset Manangement LLC grew its holdings in Commvault Systems, Inc. (NASDAQ:CVLT) by 1.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,753 shares of the software maker’s stock after purchasing an additional 72 shares during the quarter. NorthCrest Asset Manangement LLC’s holdings in Commvault Systems were worth $908,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Fifth Third Bancorp lifted its stake in Commvault Systems by 34.0% in the 1st quarter. Fifth Third Bancorp now owns 465 shares of the software maker’s stock worth $73,000 after purchasing an additional 118 shares in the last quarter. Simon Quick Advisors LLC lifted its stake in Commvault Systems by 7.4% in the 1st quarter. Simon Quick Advisors LLC now owns 2,625 shares of the software maker’s stock worth $414,000 after purchasing an additional 180 shares in the last quarter. SG Americas Securities LLC purchased a new position in Commvault Systems in the 1st quarter worth approximately $1,322,000. GAMMA Investing LLC lifted its stake in Commvault Systems by 33.4% in the 1st quarter. GAMMA Investing LLC now owns 1,342 shares of the software maker’s stock worth $212,000 after purchasing an additional 336 shares in the last quarter. Finally, Harbor Capital Advisors Inc. lifted its stake in Commvault Systems by 40,181.8% in the 1st quarter. Harbor Capital Advisors Inc. now owns 8,862 shares of the software maker’s stock worth $1,398,000 after purchasing an additional 8,840 shares in the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Commvault Systems Stock Down 0.8%

NASDAQ:CVLT opened at $184.62 on Friday. The company has a fifty day simple moving average of $170.69 and a two-hundred day simple moving average of $166.23. The company has a market cap of $8.15 billion, a price-to-earnings ratio of 48.46 and a beta of 0.75. Commvault Systems, Inc. has a 52 week low of $116.45 and a 52 week high of $192.01.

Commvault Systems (NASDAQ:CVLT) last posted its quarterly earnings results on Tuesday, April 29th. The software maker reported $1.03 EPS for the quarter, topping the consensus estimate of $0.93 by $0.10. The business had revenue of $275.04 million during the quarter, compared to the consensus estimate of $262.52 million. Commvault Systems had a net margin of 18.14% and a return on equity of 28.69%. The company’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.79 earnings per share. On average, analysts expect that Commvault Systems, Inc. will post 1.65 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Royal Bank of Canada lifted their price target on shares of Commvault Systems from $175.00 to $185.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 30th. Wall Street Zen raised shares of Commvault Systems from a “hold” rating to a “buy” rating in a research report on Thursday, May 1st. Wells Fargo & Company lifted 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. Guggenheim reaffirmed a “neutral” rating on shares of Commvault Systems in a research report on Wednesday, April 23rd. Finally, Oppenheimer lifted their price target on shares of Commvault Systems from $180.00 to $200.00 and gave the company an “outperform” rating in a research report on Wednesday, April 30th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Commvault Systems has a consensus rating of “Moderate Buy” and a consensus price target of $175.25.

Insiders Place Their Bets

In related news, Director Nicola Adamo sold 1,500 shares of the business’s 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 completion of the transaction, the director now owns 16,178 shares in the company, valued at approximately $2,746,053.72. The trade was a 8.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Gary Merrill sold 1,748 shares of the business’s stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $174.91, for a total transaction of $305,742.68. Following the transaction, 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 disclosure for this sale can be found here. Insiders sold a total of 4,957 shares of company stock worth $859,428 over the last 90 days. Corporate insiders own 1.00% of the company’s stock.

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.