Measured Wealth Private Client Group LLC lowered its holdings in shares of Commvault Systems, Inc. (NASDAQ:CVLT – Free Report) by 8.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,683 shares of the software maker’s stock after selling 239 shares during the quarter. Measured Wealth Private Client Group LLC’s holdings in Commvault Systems were worth $413,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of CVLT. Diversified Trust Co raised its position in shares of Commvault Systems by 33.2% during the first quarter. Diversified Trust Co now owns 8,523 shares of the software maker’s stock worth $864,000 after purchasing an additional 2,122 shares during the period. State of Michigan Retirement System raised its position in shares of Commvault Systems by 1.9% during the first quarter. State of Michigan Retirement System now owns 10,712 shares of the software maker’s stock worth $1,087,000 after purchasing an additional 200 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Commvault Systems by 7.8% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,379 shares of the software maker’s stock worth $2,168,000 after purchasing an additional 1,540 shares during the period. BNP Paribas Financial Markets raised its position in shares of Commvault Systems by 44.9% during the first quarter. BNP Paribas Financial Markets now owns 78,281 shares of the software maker’s stock worth $7,940,000 after purchasing an additional 24,243 shares during the period. Finally, Daiwa Securities Group Inc. raised its position in shares of Commvault Systems by 700.0% during the first quarter. Daiwa Securities Group Inc. now owns 800 shares of the software maker’s stock worth $81,000 after purchasing an additional 700 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.
Analysts Set New Price Targets
CVLT has been the topic of a number of recent research reports. StockNews.com raised Commvault Systems from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 24th. Piper Sandler lifted their target price on Commvault Systems from $107.00 to $123.00 and gave the company a “neutral” rating in a research report on Monday, July 15th. KeyCorp lifted their target price on Commvault Systems from $140.00 to $170.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Guggenheim lowered Commvault Systems from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 15th. Finally, DA Davidson lifted 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. Four research 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. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $144.29.
Insider Transactions at Commvault Systems
In other news, insider Gary Merrill sold 17,388 shares of Commvault Systems stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $150.76, for a total transaction of $2,621,414.88. Following the completion of the transaction, 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Allison Pickens sold 1,232 shares of the business’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $153.89, for a total value of $189,592.48. Following the completion of the sale, the director now directly owns 7,131 shares in the company, valued at $1,097,389.59. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Gary Merrill sold 17,388 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $150.76, for a total value of $2,621,414.88. Following the completion of the sale, the insider now owns 94,530 shares of the company’s stock, valued at $14,251,342.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by corporate insiders.
Commvault Systems Stock Down 4.4 %
CVLT stock opened at $162.25 on Thursday. The business has a 50 day moving average price of $149.72 and a two-hundred day moving average price of $129.96. The company has a market cap of $7.10 billion, a price-to-earnings ratio of 43.15 and a beta of 0.60. Commvault Systems, Inc. has a twelve month low of $64.32 and a twelve month high of $171.26.
Commvault Systems (NASDAQ:CVLT – Get Free Report) last posted its quarterly earnings results on Tuesday, July 30th. The software maker reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.12. The firm had revenue of $224.67 million during the quarter, compared to the consensus estimate of $215.54 million. Commvault Systems had a return on equity of 32.16% and a net margin of 20.19%. During the same period last year, the company earned $0.29 earnings per share. The business’s revenue was up 13.4% compared to the same quarter last year. On average, equities research analysts anticipate that Commvault Systems, Inc. will post 1.66 EPS 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.
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