Voya Investment Management LLC Trims Stake in Commvault Systems, Inc. (NASDAQ:CVLT)

Voya Investment Management LLC cut its stake in shares of Commvault Systems, Inc. (NASDAQ:CVLT) by 54.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,996 shares of the software maker’s stock after selling 15,499 shares during the period. Voya Investment Management LLC’s holdings in Commvault Systems were worth $1,961,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Nisa Investment Advisors LLC increased its holdings in Commvault Systems by 3.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,960 shares of the software maker’s stock valued at $296,000 after acquiring an additional 66 shares during the last quarter. CIBC Asset Management Inc grew its holdings in Commvault Systems by 5.6% during the 4th quarter. CIBC Asset Management Inc now owns 1,413 shares of the software maker’s stock valued at $213,000 after buying an additional 75 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in Commvault Systems by 4.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,439 shares of the software maker’s stock worth $368,000 after acquiring an additional 93 shares during the last quarter. Mariner LLC raised its holdings in shares of Commvault Systems by 3.7% during the 4th quarter. Mariner LLC now owns 3,310 shares of the software maker’s stock worth $500,000 after acquiring an additional 118 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of Commvault Systems by 13.7% during the 4th quarter. GAMMA Investing LLC now owns 1,006 shares of the software maker’s stock valued at $152,000 after acquiring an additional 121 shares during the last quarter. Institutional investors own 93.50% of the company’s stock.

Commvault Systems Stock Up 3.9 %

CVLT opened at $172.55 on Friday. The business has a fifty day moving average of $158.48 and a 200 day moving average of $162.05. Commvault Systems, Inc. has a 52-week low of $105.76 and a 52-week high of $190.11. The stock has a market cap of $7.59 billion, a P/E ratio of 45.29 and a beta of 0.68.

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 analysts’ consensus estimates of $0.93 by $0.10. Commvault Systems had a net margin of 18.14% and a return on equity of 28.69%. The firm had revenue of $275.04 million for the quarter, compared to analysts’ expectations of $262.52 million. During the same period in the prior year, the business posted $0.79 earnings per share. The business’s revenue for the quarter was up 23.2% on a year-over-year basis. Equities analysts anticipate that Commvault Systems, Inc. will post 1.65 EPS for the current fiscal year.

Insider Activity

In other Commvault Systems news, CEO Sanjay Mirchandani sold 12,318 shares of Commvault Systems stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $185.96, for a total transaction of $2,290,655.28. Following the completion of the sale, the chief executive officer now directly owns 427,231 shares of the company’s stock, valued at $79,447,876.76. The trade was a 2.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Gary Merrill sold 3,287 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $186.94, for a total value of $614,471.78. Following the transaction, the insider now directly owns 87,316 shares in the company, valued at $16,322,853.04. The trade was a 3.63 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on CVLT shares. Piper Sandler decreased their price target on shares of Commvault Systems from $154.00 to $147.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 8th. StockNews.com upgraded shares of Commvault Systems from a “hold” rating to a “buy” rating in a research report on Thursday. William Blair upgraded Commvault Systems from a “market perform” rating to an “outperform” rating in a research report on Thursday, January 30th. Oppenheimer upped their price objective on Commvault Systems from $180.00 to $200.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, Royal Bank of Canada lifted their target price on Commvault Systems from $175.00 to $185.00 and gave the stock a “sector perform” rating in a report on Wednesday. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $175.25.

Commvault Systems 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.