M&G Plc Takes $10.27 Million Position in Commvault Systems, Inc. (NASDAQ:CVLT)

M&G Plc bought a new position in shares of Commvault Systems, Inc. (NASDAQ:CVLT) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 84,141 shares of the software maker’s stock, valued at approximately $10,265,000. M&G Plc owned about 0.19% of Commvault Systems as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CVLT. Ontario Teachers Pension Plan Board boosted its holdings in shares of Commvault Systems by 23.4% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 25,770 shares of the software maker’s stock valued at $2,614,000 after buying an additional 4,888 shares in the last quarter. Jump Financial LLC purchased a new stake in shares of Commvault Systems in the 4th quarter valued at about $3,298,000. Mitsubishi UFJ Trust & Banking Corp purchased a new position in Commvault Systems during the 1st quarter worth approximately $595,000. Los Angeles Capital Management LLC acquired a new position in Commvault Systems during the fourth quarter worth approximately $1,110,000. Finally, BOKF NA lifted its stake in Commvault Systems by 55.3% in the first quarter. BOKF NA now owns 3,119 shares of the software maker’s stock valued at $313,000 after buying an additional 1,110 shares during the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Commvault Systems news, CEO Sanjay Mirchandani sold 15,975 shares of the stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $110.20, for a total transaction of $1,760,445.00. Following the sale, the chief executive officer now owns 539,465 shares in the company, valued at approximately $59,449,043. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO Sanjay Mirchandani sold 15,975 shares of the company’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $110.20, for a total value of $1,760,445.00. Following the sale, the chief executive officer now directly owns 539,465 shares in the company, valued at $59,449,043. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Charles E. Moran sold 11,000 shares of Commvault Systems stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $110.83, for a total transaction of $1,219,130.00. Following the sale, the director now owns 10,967 shares of the company’s stock, valued at $1,215,472.61. The disclosure for this sale can be found here. Insiders sold 59,816 shares of company stock worth $6,613,874 in the last ninety days. Insiders own 1.00% of the company’s stock.

Commvault Systems Stock Up 1.5 %

Shares of NASDAQ CVLT opened at $151.35 on Wednesday. The firm has a 50-day moving average price of $126.07 and a 200 day moving average price of $109.17. Commvault Systems, Inc. has a 52 week low of $63.70 and a 52 week high of $155.33. The stock has a market capitalization of $6.62 billion, a price-to-earnings ratio of 40.25 and a beta of 0.61.

Commvault Systems (NASDAQ:CVLT) last released its quarterly earnings data on Tuesday, July 30th. The software maker reported $0.85 EPS for the quarter, topping the consensus estimate of $0.73 by $0.12. Commvault Systems had a net margin of 20.19% and a return on equity of 32.16%. The business had revenue of $224.67 million for the quarter, compared to analyst estimates of $215.54 million. During the same period in the previous year, the firm earned $0.29 EPS. The business’s revenue for the quarter was up 13.4% compared to the same quarter last year. Equities research analysts expect that Commvault Systems, Inc. will post 1.71 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CVLT has been the topic of a number of recent research reports. Royal Bank of Canada boosted their target price on Commvault Systems from $121.00 to $152.00 and gave the company a “sector perform” rating in a report on Wednesday, July 31st. Piper Sandler raised 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. Wells Fargo & Company lifted their target price on shares of Commvault Systems from $125.00 to $140.00 and gave the company an “overweight” rating in a report on Thursday, May 16th. DA Davidson increased 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, Lake Street Capital raised their price objective on shares of Commvault Systems from $86.00 to $98.00 and gave the company a “hold” rating in a research report on Wednesday, May 1st. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $134.29.

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.