Tealwood Asset Management Inc. Reduces Position in Commvault Systems, Inc. (NASDAQ:CVLT)

Tealwood Asset Management Inc. reduced its position in Commvault Systems, Inc. (NASDAQ:CVLT) by 0.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,324 shares of the software maker’s stock after selling 70 shares during the quarter. Tealwood Asset Management Inc.’s holdings in Commvault Systems were worth $1,742,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Seven Eight Capital LP purchased a new stake in shares of Commvault Systems during the fourth quarter valued at $583,000. Virtu Financial LLC purchased a new position in Commvault Systems during the 4th quarter worth $389,000. Vanguard Group Inc. raised its position in Commvault Systems by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 5,488,370 shares of the software maker’s stock valued at $438,246,000 after purchasing an additional 61,556 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Commvault Systems in the 4th quarter worth $3,092,000. Finally, Los Angeles Capital Management LLC lifted its stake in Commvault Systems by 59.0% in the first quarter. Los Angeles Capital Management LLC now owns 22,102 shares of the software maker’s stock worth $2,242,000 after acquiring an additional 8,202 shares during the period. Institutional investors own 93.50% of the company’s stock.

Insider Activity

In other Commvault Systems news, Director Allison Pickens sold 1,232 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $153.89, for a total transaction of $189,592.48. Following the transaction, the director now owns 7,131 shares in the company, valued at approximately $1,097,389.59. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Gary Merrill sold 17,388 shares of Commvault Systems stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $150.76, for a total value of $2,621,414.88. Following the sale, the insider now directly owns 94,530 shares in the company, valued at approximately $14,251,342.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Allison Pickens sold 1,232 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $153.89, for a total value of $189,592.48. Following the completion of the transaction, the director now owns 7,131 shares in the company, valued at approximately $1,097,389.59. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. StockNews.com downgraded Commvault Systems from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 31st. Piper Sandler lifted their price target on shares of Commvault Systems from $107.00 to $123.00 and gave the stock a “neutral” rating in a report on Monday, July 15th. KeyCorp upped their price target on Commvault Systems from $140.00 to $170.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Royal Bank of Canada raised their price objective on Commvault Systems from $121.00 to $152.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 31st. Finally, DA Davidson upped their target price on Commvault Systems from $170.00 to $175.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Commvault Systems currently has an average rating of “Moderate Buy” and an average target price of $140.00.

Commvault Systems Price Performance

NASDAQ:CVLT traded up $6.56 during trading hours on Tuesday, reaching $159.25. The company had a trading volume of 177,139 shares, compared to its average volume of 341,830. The firm has a market cap of $6.97 billion, a PE ratio of 40.61 and a beta of 0.60. Commvault Systems, Inc. has a 1-year low of $63.70 and a 1-year high of $162.38. The business’s 50 day moving average price is $149.30 and its 200-day moving average price is $124.28.

Commvault Systems (NASDAQ:CVLT) last announced its quarterly earnings results on Tuesday, July 30th. The software maker reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.12. The firm had revenue of $224.67 million for the quarter, compared to the consensus estimate of $215.54 million. Commvault Systems had a net margin of 20.19% and a return on equity of 32.16%. The firm’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.29 earnings per share. On average, analysts expect that Commvault Systems, Inc. will post 1.66 earnings per share for the current fiscal year.

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.