Diversify Advisory Services LLC Acquires New Holdings in Commvault Systems, Inc. (NASDAQ:CVLT)

Diversify Advisory Services LLC bought a new position in Commvault Systems, Inc. (NASDAQ:CVLT) during the 3rd quarter, Holdings Channel reports. The institutional investor bought 1,547 shares of the software maker’s stock, valued at approximately $238,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. National Bank of Canada FI bought a new position in shares of Commvault Systems in the second quarter worth $30,000. Hexagon Capital Partners LLC raised its holdings in shares of Commvault Systems by 124.8% in the 2nd quarter. Hexagon Capital Partners LLC now owns 353 shares of the software maker’s stock valued at $43,000 after acquiring an additional 196 shares in the last quarter. Signaturefd LLC boosted its position in shares of Commvault Systems by 70.8% during the 2nd quarter. Signaturefd LLC now owns 410 shares of the software maker’s stock valued at $50,000 after acquiring an additional 170 shares during the last quarter. Strategic Financial Concepts LLC purchased a new position in shares of Commvault Systems during the second quarter worth about $56,000. Finally, GAMMA Investing LLC raised its stake in Commvault Systems by 140.5% in the second quarter. GAMMA Investing LLC now owns 529 shares of the software maker’s stock valued at $64,000 after purchasing an additional 309 shares in the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Commvault Systems news, insider Gary Merrill sold 17,388 shares of the stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $150.76, for a total transaction 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 represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Commvault Systems news, insider Gary Merrill sold 17,388 shares of the stock in a transaction that occurred on 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 completion of the sale, the insider now owns 94,530 shares in the company, valued at approximately $14,251,342.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Allison Pickens sold 1,232 shares of Commvault Systems stock in a transaction that occurred 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 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 disclosure for this sale can be found here. 1.00% of the stock is owned by insiders.

Commvault Systems Trading Down 0.3 %

CVLT opened at $155.69 on Friday. Commvault Systems, Inc. has a 12 month low of $65.43 and a 12 month high of $171.26. The business’s 50-day moving average price is $149.93 and its 200-day moving average price is $130.57. The company has a market cap of $6.81 billion, a P/E ratio of 39.42 and a beta of 0.60.

Commvault Systems (NASDAQ:CVLT) last announced its quarterly earnings results on Tuesday, July 30th. The software maker reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.12. The business had revenue of $224.67 million for the quarter, compared to analysts’ expectations of $215.54 million. Commvault Systems had a return on equity of 31.62% and a net margin of 19.75%. The business’s quarterly revenue was up 13.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.29 EPS. Equities research analysts forecast that Commvault Systems, Inc. will post 1.68 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have commented on CVLT shares. StockNews.com cut shares of Commvault Systems from a “strong-buy” rating to a “buy” rating in a research note on Friday. KeyCorp increased their target price on Commvault Systems from $140.00 to $170.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. DA Davidson raised their price target on Commvault Systems from $170.00 to $175.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Piper Sandler upped their price objective on Commvault Systems from $107.00 to $123.00 and gave the stock a “neutral” rating in a report on Monday, July 15th. Finally, Royal Bank of Canada raised their price objective on Commvault Systems from $164.00 to $182.00 and gave the company a “sector perform” rating in a report on Wednesday. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Commvault Systems presently has a consensus rating of “Moderate Buy” and a consensus target price of $144.29.

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.