Commvault Systems, Inc. (NASDAQ:CVLT) Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC lessened its position in shares of Commvault Systems, Inc. (NASDAQ:CVLT) by 34.7% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 31,528 shares of the software maker’s stock after selling 16,736 shares during the quarter. Hsbc Holdings PLC owned about 0.07% of Commvault Systems worth $3,831,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Personalized Indexing Management LLC grew its position in shares of Commvault Systems by 11.8% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 3,984 shares of the software maker’s stock worth $484,000 after acquiring an additional 420 shares during the last quarter. Renaissance Technologies LLC grew its position in Commvault Systems by 7.5% during the 2nd quarter. Renaissance Technologies LLC now owns 1,813,487 shares of the software maker’s stock worth $220,466,000 after purchasing an additional 126,800 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Commvault Systems by 0.5% in the second quarter. Dimensional Fund Advisors LP now owns 523,474 shares of the software maker’s stock valued at $63,637,000 after purchasing an additional 2,633 shares during the period. Envestnet Asset Management Inc. raised its holdings in shares of Commvault Systems by 30.8% in the second quarter. Envestnet Asset Management Inc. now owns 57,198 shares of the software maker’s stock valued at $6,954,000 after buying an additional 13,472 shares during the last quarter. Finally, Parallel Advisors LLC boosted its stake in shares of Commvault Systems by 5.9% during the second quarter. Parallel Advisors LLC now owns 2,749 shares of the software maker’s stock worth $334,000 after buying an additional 153 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

Commvault Systems Trading Down 2.0 %

CVLT stock opened at $152.36 on Wednesday. The firm has a 50 day moving average of $144.10 and a 200-day moving average of $120.90. The company has a market cap of $6.67 billion, a price-to-earnings ratio of 40.52 and a beta of 0.60. Commvault Systems, Inc. has a 12-month low of $63.70 and a 12-month high of $157.13.

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

Insider Buying and Selling

In other Commvault Systems news, insider Gary Merrill sold 17,388 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 94,530 shares in the company, valued at approximately $14,251,342.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Gary Merrill sold 17,388 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 94,530 shares in the company, valued at $14,251,342.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Allison Pickens sold 1,232 shares of the firm’s 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 directly owns 7,131 shares of the company’s stock, valued at $1,097,389.59. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

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

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.