ProShare Advisors LLC Purchases 3,940 Shares of Commvault Systems, Inc. (NASDAQ:CVLT)

ProShare Advisors LLC increased its position in Commvault Systems, Inc. (NASDAQ:CVLT) by 31.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,278 shares of the software maker’s stock after purchasing an additional 3,940 shares during the quarter. ProShare Advisors LLC’s holdings in Commvault Systems were worth $2,457,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CVLT. Quarry LP lifted its holdings in shares of Commvault Systems by 888.2% during the fourth quarter. Quarry LP now owns 168 shares of the software maker’s stock valued at $25,000 after acquiring an additional 151 shares during the period. TFC Financial Management Inc. lifted its holdings in shares of Commvault Systems by 294.1% during the fourth quarter. TFC Financial Management Inc. now owns 402 shares of the software maker’s stock valued at $61,000 after acquiring an additional 300 shares during the period. GeoWealth Management LLC bought a new position in shares of Commvault Systems during the fourth quarter valued at $101,000. Blue Trust Inc. lifted its holdings in shares of Commvault Systems by 37,400.0% during the fourth quarter. Blue Trust Inc. now owns 750 shares of the software maker’s stock valued at $113,000 after acquiring an additional 748 shares during the period. Finally, Meeder Asset Management Inc. bought a new position in shares of Commvault Systems during the fourth quarter valued at $127,000. 93.50% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on CVLT. Oppenheimer lifted their price objective on Commvault Systems from $180.00 to $200.00 and gave the company an “outperform” rating in a report on Wednesday, April 30th. KeyCorp cut their price target on Commvault Systems from $195.00 to $185.00 and set an “overweight” rating for the company in a report on Thursday, April 17th. Piper Sandler cut their price target on Commvault Systems from $154.00 to $147.00 and set a “neutral” rating for the company in a report on Tuesday, April 8th. Cantor Fitzgerald lifted their price target on Commvault Systems from $159.00 to $173.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Finally, Royal Bank of Canada lifted their price target on Commvault Systems from $175.00 to $185.00 and gave the company a “sector perform” rating in a report on Wednesday, April 30th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Commvault Systems currently has a consensus rating of “Moderate Buy” and a consensus target price of $175.25.

Insider Buying and Selling

In other news, Director Nicola Adamo sold 1,500 shares of the business’s stock in a transaction dated Friday, May 2nd. The stock was 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 directly owns 16,178 shares in the company, valued at approximately $2,746,053.72. The trade was a 8.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.00% of the company’s stock.

Commvault Systems Stock Up 0.8%

Shares of CVLT stock opened at $179.51 on Wednesday. The stock has a 50-day moving average price of $161.83 and a 200 day moving average price of $164.61. The firm has a market cap of $7.92 billion, a price-to-earnings ratio of 47.12 and a beta of 0.71. Commvault Systems, Inc. has a 12 month low of $105.76 and a 12 month high of $190.11.

Commvault Systems (NASDAQ:CVLT) last announced 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 firm had revenue of $275.04 million during the quarter, compared to analyst estimates of $262.52 million. Commvault Systems had a return on equity of 28.69% and a net margin of 18.14%. The company’s revenue was up 23.2% on a year-over-year basis. During the same period last year, the company earned $0.79 earnings per share. Sell-side analysts predict that Commvault Systems, Inc. will post 1.65 earnings per share for the current fiscal year.

About Commvault Systems

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.