American International Group Inc. Lowers Stock Holdings in Commvault Systems, Inc. (NASDAQ:CVLT)

American International Group Inc. reduced its position in Commvault Systems, Inc. (NASDAQ:CVLT) by 3.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 80,712 shares of the software maker’s stock after selling 2,740 shares during the period. American International Group Inc. owned about 0.18% of Commvault Systems worth $6,445,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in CVLT. Norges Bank purchased a new stake in shares of Commvault Systems during the 4th quarter valued at $24,134,000. Invesco Ltd. grew its stake in shares of Commvault Systems by 50.9% during the 3rd quarter. Invesco Ltd. now owns 629,282 shares of the software maker’s stock valued at $42,546,000 after buying an additional 212,325 shares during the period. Vanguard Group Inc. grew its stake in shares of Commvault Systems by 2.7% during the 3rd quarter. Vanguard Group Inc. now owns 5,426,814 shares of the software maker’s stock valued at $366,907,000 after buying an additional 144,625 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Commvault Systems by 211.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 84,040 shares of the software maker’s stock valued at $5,682,000 after buying an additional 57,084 shares during the period. Finally, AQR Capital Management LLC grew its stake in shares of Commvault Systems by 14.9% during the 3rd quarter. AQR Capital Management LLC now owns 345,628 shares of the software maker’s stock valued at $23,368,000 after buying an additional 44,816 shares during the period. 93.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on CVLT. DA Davidson boosted their price objective on shares of Commvault Systems from $125.00 to $135.00 and gave the company a “buy” rating in a research note on Friday, June 14th. 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. Royal Bank of Canada lifted their target price on shares of Commvault Systems from $97.00 to $112.00 and gave the company a “sector perform” rating in a report on Wednesday, May 1st. KeyCorp lifted their target price on shares of Commvault Systems from $109.00 to $122.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Finally, Lake Street Capital lifted their target price on shares of Commvault Systems from $86.00 to $98.00 and gave the company a “hold” rating in a report on Wednesday, May 1st. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $121.40.

Commvault Systems Price Performance

Shares of CVLT stock opened at $118.08 on Friday. Commvault Systems, Inc. has a 12 month low of $63.70 and a 12 month high of $119.72. The firm has a market capitalization of $5.12 billion, a P/E ratio of 31.40 and a beta of 0.60. The company’s fifty day moving average price is $107.66 and its two-hundred day moving average price is $95.19.

Commvault Systems (NASDAQ:CVLT) last issued its quarterly earnings data on Tuesday, April 30th. The software maker reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.10. Commvault Systems had a net margin of 20.13% and a return on equity of 31.27%. The firm had revenue of $223.29 million for the quarter, compared to analyst estimates of $213.00 million. On average, sell-side analysts anticipate that Commvault Systems, Inc. will post 1.7 EPS for the current year.

Insiders Place Their Bets

In other Commvault Systems news, CEO Sanjay Mirchandani sold 15,975 shares of the business’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $110.20, for a total value of $1,760,445.00. Following the transaction, the chief executive officer now owns 539,465 shares in the company, valued at approximately $59,449,043. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Vivie Lee sold 2,500 shares of the company’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $112.19, for a total value of $280,475.00. Following the sale, the director now owns 13,589 shares in the company, valued at approximately $1,524,549.91. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Sanjay Mirchandani sold 15,975 shares of the company’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $110.20, for a total transaction of $1,760,445.00. Following the completion of the sale, the chief executive officer now owns 539,465 shares in the company, valued at approximately $59,449,043. The disclosure for this sale can be found here. Insiders have sold 59,816 shares of company stock worth $6,613,874 in the last quarter. 1.00% of the stock is owned by corporate insiders.

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.