Abacus FCF Advisors LLC Sells 2,956 Shares of Commvault Systems, Inc. (NASDAQ:CVLT)

Abacus FCF Advisors LLC lowered its holdings in shares of Commvault Systems, Inc. (NASDAQ:CVLT) by 10.2% in the 1st quarter, Holdings Channel.com reports. The firm owned 26,024 shares of the software maker’s stock after selling 2,956 shares during the quarter. Abacus FCF Advisors LLC’s holdings in Commvault Systems were worth $4,106,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of CVLT. Virtu Financial LLC increased its stake in Commvault Systems by 63.9% in the 4th quarter. Virtu Financial LLC now owns 8,243 shares of the software maker’s stock worth $1,244,000 after buying an additional 3,214 shares during the period. Arrowstreet Capital Limited Partnership grew its position in shares of Commvault Systems by 0.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 632,870 shares of the software maker’s stock worth $95,506,000 after buying an additional 4,957 shares during the last quarter. Banco Santander S.A. acquired a new stake in Commvault Systems in the 4th quarter worth approximately $833,000. New Age Alpha Advisors LLC acquired a new stake in Commvault Systems in the 4th quarter worth approximately $1,387,000. Finally, Oppenheimer & Co. Inc. acquired a new stake in Commvault Systems in the 4th quarter worth approximately $367,000. Institutional investors own 93.50% of the company’s stock.

Commvault Systems Trading Up 1.3%

Shares of CVLT stock opened at $190.99 on Tuesday. Commvault Systems, Inc. has a twelve month low of $112.58 and a twelve month high of $191.76. The firm has a 50-day moving average price of $167.27 and a 200 day moving average price of $165.80. The company has a market capitalization of $8.43 billion, a price-to-earnings ratio of 50.13 and a beta of 0.75.

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

Insider Buying and Selling at Commvault Systems

In other Commvault Systems news, Director Nicola Adamo sold 1,500 shares of the stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $169.74, for a total value of $254,610.00. Following the sale, the director now directly owns 16,178 shares of the company’s stock, valued at $2,746,053.72. This trade represents a 8.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Sanjay Mirchandani sold 1,709 shares of the stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $299,075.00. Following the completion of the sale, the chief executive officer now directly owns 469,648 shares in the company, valued at $82,188,400. This represents a 0.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 4,957 shares of company stock valued at $859,428 in the last three months. Corporate insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on CVLT. Royal Bank of Canada lifted their price objective on shares of Commvault Systems from $175.00 to $185.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 30th. DA Davidson upped their target price on shares of Commvault Systems from $185.00 to $200.00 and gave the stock a “buy” rating in a report on Tuesday, April 29th. Piper Sandler lowered 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 report on Tuesday, April 8th. Oppenheimer upped their target price 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. Finally, Guggenheim reiterated a “neutral” rating on shares of Commvault Systems in a research note on Wednesday, April 23rd. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $175.25.

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.