CANADA LIFE ASSURANCE Co Buys 78,713 Shares of Commvault Systems, Inc. (NASDAQ:CVLT)

CANADA LIFE ASSURANCE Co raised its stake in Commvault Systems, Inc. (NASDAQ:CVLT) by 247.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 110,567 shares of the software maker’s stock after acquiring an additional 78,713 shares during the period. CANADA LIFE ASSURANCE Co owned approximately 0.25% of Commvault Systems worth $11,205,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Commvault Systems by 0.8% in the first quarter. Vanguard Group Inc. now owns 5,531,703 shares of the software maker’s stock worth $561,081,000 after purchasing an additional 43,333 shares during the period. Acadian Asset Management LLC increased its holdings in Commvault Systems by 16.3% in the 1st quarter. Acadian Asset Management LLC now owns 1,596,635 shares of the software maker’s stock valued at $161,914,000 after buying an additional 223,347 shares during the period. Champlain Investment Partners LLC lifted its holdings in shares of Commvault Systems by 58.5% during the 1st quarter. Champlain Investment Partners LLC now owns 825,236 shares of the software maker’s stock worth $83,704,000 after acquiring an additional 304,459 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Commvault Systems by 2.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 472,291 shares of the software maker’s stock worth $37,712,000 after acquiring an additional 12,624 shares in the last quarter. Finally, Norges Bank bought a new position in Commvault Systems in the fourth quarter valued at approximately $24,134,000. 93.50% of the stock is currently owned by institutional investors.

Commvault Systems Price Performance

CVLT stock opened at $122.24 on Friday. The company’s 50-day moving average is $117.59 and its 200-day moving average is $102.93. The stock has a market capitalization of $5.35 billion, a PE ratio of 32.51 and a beta of 0.61. Commvault Systems, Inc. has a 1 year low of $63.70 and a 1 year high of $127.94.

Commvault Systems (NASDAQ:CVLT) last announced its earnings results on Tuesday, April 30th. The software maker reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.10. The company had revenue of $223.29 million for the quarter, compared to analysts’ expectations of $213.00 million. Commvault Systems had a return on equity of 31.27% and a net margin of 20.13%. On average, analysts anticipate that Commvault Systems, Inc. will post 1.7 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CVLT has been the topic of a number of research analyst reports. Wells Fargo & Company raised their target price on Commvault Systems from $125.00 to $140.00 and gave the company an “overweight” rating in a report on Thursday, May 16th. StockNews.com upgraded shares of Commvault Systems from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 11th. Piper Sandler boosted their target price on shares of Commvault Systems from $107.00 to $123.00 and gave the stock a “neutral” rating in a research note on Monday, July 15th. DA Davidson upped their price target on shares of Commvault Systems from $125.00 to $135.00 and gave the stock a “buy” rating in a report on Friday, June 14th. Finally, KeyCorp raised their price objective on Commvault Systems from $122.00 to $140.00 and gave the company an “overweight” rating in a report on Tuesday, July 2nd. Three equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $124.29.

Insider Activity at Commvault Systems

In other Commvault Systems news, Director Charles E. Moran sold 11,000 shares of the company’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $110.83, for a total value of $1,219,130.00. Following the completion of the sale, the director now directly owns 10,967 shares of the company’s stock, valued at approximately $1,215,472.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Sanjay Mirchandani sold 17,949 shares of Commvault Systems stock in a transaction on Monday, May 20th. The stock was sold at an average price of $110.63, for a total transaction of $1,985,697.87. Following the sale, the chief executive officer now directly owns 514,383 shares in the company, valued at $56,906,191.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Charles E. Moran sold 11,000 shares of the company’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $110.83, for a total value of $1,219,130.00. Following the completion of the transaction, the director now owns 10,967 shares of the company’s stock, valued at approximately $1,215,472.61. The disclosure for this sale can be found here. Insiders have sold 59,816 shares of company stock valued at $6,613,874 over the last ninety days. Corporate insiders own 1.00% of the company’s stock.

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.