Wedge Capital Management L L P NC Increases Stake in Commvault Systems, Inc. (NASDAQ:CVLT)

Wedge Capital Management L L P NC increased its position in shares of Commvault Systems, Inc. (NASDAQ:CVLT) by 1,936.0% during the 1st quarter, HoldingsChannel.com reports. The firm owned 360,355 shares of the software maker’s stock after purchasing an additional 342,656 shares during the period. Commvault Systems accounts for 1.1% of Wedge Capital Management L L P NC’s investment portfolio, making the stock its 9th biggest position. Wedge Capital Management L L P NC’s holdings in Commvault Systems were worth $56,850,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Virtu Financial LLC lifted its position in Commvault Systems by 63.9% in the 4th quarter. Virtu Financial LLC now owns 8,243 shares of the software maker’s stock valued at $1,244,000 after purchasing an additional 3,214 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Commvault Systems by 0.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 632,870 shares of the software maker’s stock worth $95,506,000 after acquiring an additional 4,957 shares during the period. Banco Santander S.A. acquired a new position in Commvault Systems during the fourth quarter worth about $833,000. New Age Alpha Advisors LLC acquired a new position in Commvault Systems during the fourth quarter worth about $1,387,000. Finally, Oppenheimer & Co. Inc. acquired a new position in shares of Commvault Systems in the 4th quarter valued at $367,000. 93.50% of the stock is currently owned by institutional investors.

Commvault Systems Price Performance

CVLT opened at $188.57 on Friday. Commvault Systems, Inc. has a fifty-two week low of $112.58 and a fifty-two week high of $190.11. The firm’s fifty day moving average price is $166.78 and its two-hundred day moving average price is $165.76. The company has a market capitalization of $8.32 billion, a P/E ratio of 49.49 and a beta of 0.75.

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

Insider Activity at Commvault Systems

In other Commvault Systems news, insider Gary Merrill sold 1,748 shares of the business’s stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $174.91, for a total value of $305,742.68. Following the transaction, the insider now owns 89,923 shares of the company’s stock, valued at approximately $15,728,431.93. The trade was a 1.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Nicola Adamo sold 1,500 shares of the business’s 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 completion of the transaction, the director now directly owns 16,178 shares in the company, valued at approximately $2,746,053.72. This represents a 8.49% decrease in their position. 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 90 days. 1.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

CVLT has been the subject of a number of recent analyst reports. Oppenheimer increased their price target on Commvault Systems from $180.00 to $200.00 and gave the company an “outperform” rating in a research report on Wednesday, April 30th. Piper Sandler reduced 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. DA Davidson lifted their price target on Commvault Systems from $185.00 to $200.00 and gave the company a “buy” rating in a report on Tuesday, April 29th. Wall Street Zen upgraded shares of Commvault Systems from a “hold” rating to a “buy” rating in a research note on Thursday, May 1st. Finally, Wells Fargo & Company lifted their price target on Commvault Systems from $180.00 to $190.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 30th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus 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.