SG Americas Securities LLC Cuts Stake in Commvault Systems, Inc. (NASDAQ:CVLT)

SG Americas Securities LLC reduced its position in Commvault Systems, Inc. (NASDAQ:CVLT) by 58.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,368 shares of the software maker’s stock after selling 7,648 shares during the quarter. SG Americas Securities LLC’s holdings in Commvault Systems were worth $826,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Commvault Systems by 49.8% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 58,020 shares of the software maker’s stock worth $7,053,000 after buying an additional 19,300 shares during the period. Creative Planning lifted its stake in shares of Commvault Systems by 67.6% during the second quarter. Creative Planning now owns 7,321 shares of the software maker’s stock worth $890,000 after buying an additional 2,954 shares during the period. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Commvault Systems during the second quarter worth $267,000. Scientech Research LLC acquired a new stake in shares of Commvault Systems during the second quarter worth $221,000. Finally, Maverick Capital Ltd. lifted its stake in shares of Commvault Systems by 9.2% during the second quarter. Maverick Capital Ltd. now owns 10,198 shares of the software maker’s stock worth $1,240,000 after buying an additional 861 shares during the period. 93.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CVLT has been the subject of several research reports. DA Davidson lifted their price objective on shares of Commvault Systems from $170.00 to $175.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Piper Sandler boosted their target price on shares of Commvault Systems from $107.00 to $123.00 and gave the company a “neutral” rating in a research report on Monday, July 15th. Royal Bank of Canada boosted their target price on shares of Commvault Systems from $121.00 to $152.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 31st. KeyCorp boosted their target price on shares of Commvault Systems from $140.00 to $170.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Finally, Guggenheim restated a “buy” rating and set a $122.00 target price on shares of Commvault Systems in a research report on Tuesday, June 25th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Commvault Systems has an average rating of “Moderate Buy” and a consensus target price of $140.00.

Commvault Systems Stock Performance

Shares of Commvault Systems stock opened at $162.70 on Friday. The firm has a 50-day simple moving average of $150.40 and a two-hundred day simple moving average of $125.62. The company has a market cap of $7.12 billion, a P/E ratio of 43.27 and a beta of 0.60. Commvault Systems, Inc. has a fifty-two week low of $63.70 and a fifty-two week high of $162.99.

Commvault Systems (NASDAQ:CVLT) last issued its quarterly earnings data on Tuesday, July 30th. The software maker reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.12. The business had revenue of $224.67 million during 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 company’s revenue was up 13.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.29 earnings per share. Equities research analysts forecast that Commvault Systems, Inc. will post 1.66 EPS for the current year.

Insiders Place Their Bets

In other Commvault Systems news, Director Allison Pickens sold 1,232 shares of the company’s stock in a transaction dated 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 represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Allison Pickens sold 1,232 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $153.89, for a total transaction of $189,592.48. Following the completion of the sale, the director now owns 7,131 shares of the company’s stock, valued at $1,097,389.59. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Gary Merrill sold 17,388 shares of the business’s stock in a transaction dated 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 sale, the insider now directly owns 94,530 shares of the company’s stock, valued at $14,251,342.80. This 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.

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.