Allspring Global Investments Holdings LLC Purchases 72,146 Shares of Commvault Systems, Inc. (NASDAQ:CVLT)

Allspring Global Investments Holdings LLC boosted its holdings in shares of Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 365.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 91,869 shares of the software maker's stock after buying an additional 72,146 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.21% of Commvault Systems worth $14,134,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. National Bank of Canada FI purchased a new stake in Commvault Systems in the 2nd quarter worth approximately $30,000. Hexagon Capital Partners LLC raised its position in shares of Commvault Systems by 124.8% during the 2nd quarter. Hexagon Capital Partners LLC now owns 353 shares of the software maker's stock valued at $43,000 after purchasing an additional 196 shares during the period. Signaturefd LLC lifted its stake in shares of Commvault Systems by 70.8% during the 2nd quarter. Signaturefd LLC now owns 410 shares of the software maker's stock valued at $50,000 after buying an additional 170 shares in the last quarter. Strategic Financial Concepts LLC purchased a new position in shares of Commvault Systems during the 2nd quarter valued at $56,000. Finally, GAMMA Investing LLC boosted its holdings in Commvault Systems by 140.5% in the 2nd quarter. GAMMA Investing LLC now owns 529 shares of the software maker's stock worth $64,000 after buying an additional 309 shares during the period. 93.50% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Commvault Systems

In other news, insider Gary Merrill sold 17,388 shares of the firm's stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $150.76, for a total value of $2,621,414.88. Following the completion of the sale, the insider now owns 94,530 shares in the company, valued at approximately $14,251,342.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Commvault Systems news, Director Allison Pickens sold 1,232 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $153.89, for a total value of $189,592.48. Following the sale, the director now owns 7,131 shares in the company, valued at $1,097,389.59. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Gary Merrill sold 17,388 shares of the business's stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $150.76, for a total transaction of $2,621,414.88. Following the sale, the insider now directly owns 94,530 shares of the company's stock, valued at $14,251,342.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

CVLT has been the topic of a number of recent analyst reports. StockNews.com raised Commvault Systems from a "buy" rating to a "strong-buy" rating in a report on Thursday. Piper Sandler upped their price target on Commvault Systems from $107.00 to $123.00 and gave the stock a "neutral" rating in a research note on Monday, July 15th. Royal Bank of Canada increased their price objective on shares of Commvault Systems from $121.00 to $152.00 and gave the company a "sector perform" rating in a report on Wednesday, July 31st. Guggenheim downgraded shares of Commvault Systems from a "buy" rating to a "neutral" rating in a report on Tuesday, October 15th. Finally, KeyCorp raised their target price on shares of Commvault Systems from $140.00 to $170.00 and gave the company an "overweight" rating in a research note on Wednesday, July 31st. Four equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $140.00.

Commvault Systems Trading Up 0.8 %

CVLT traded up $1.08 during trading hours on Friday, hitting $134.22. The company's stock had a trading volume of 327,063 shares, compared to its average volume of 344,976. Commvault Systems, Inc. has a 12 month low of $63.72 and a 12 month high of $165.73. The business's 50-day moving average price is $149.35 and its 200-day moving average price is $128.72. The stock has a market cap of $5.87 billion, a price-to-earnings ratio of 35.70 and a beta of 0.60.

Commvault Systems (NASDAQ:CVLT - Get Free Report) last announced its earnings results on Tuesday, July 30th. The software maker reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.12. The firm had revenue of $224.67 million for the quarter, compared to analysts' expectations of $215.54 million. Commvault Systems had a net margin of 20.19% and a return on equity of 32.16%. The business's revenue was up 13.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.29 EPS. On average, analysts forecast that Commvault Systems, Inc. will post 1.66 earnings per share 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.