Pacer Advisors Inc. Purchases 3,391 Shares of Commvault Systems, Inc. (NASDAQ:CVLT)

Pacer Advisors Inc. increased its position in Commvault Systems, Inc. (NASDAQ:CVLT) by 37.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,543 shares of the software maker’s stock after purchasing an additional 3,391 shares during the quarter. Pacer Advisors Inc.’s holdings in Commvault Systems were worth $1,525,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. National Bank of Canada FI bought a new position in shares of Commvault Systems during the second quarter valued at $30,000. Hexagon Capital Partners LLC lifted its holdings in shares of Commvault Systems by 124.8% during the second 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 during the period. Signaturefd LLC lifted its holdings in shares of Commvault Systems by 70.8% during the second 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 period. Strategic Financial Concepts LLC bought a new position in shares of Commvault Systems during the second quarter valued at $56,000. Finally, GAMMA Investing LLC lifted its holdings in shares of Commvault Systems by 140.5% during the second quarter. GAMMA Investing LLC now owns 529 shares of the software maker’s stock valued at $64,000 after acquiring an additional 309 shares during the period. 93.50% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Commvault Systems Stock Up 0.4 %

Shares of NASDAQ:CVLT opened at $152.42 on Friday. Commvault Systems, Inc. has a 12 month low of $63.70 and a 12 month high of $157.13. The company’s fifty day simple moving average is $145.32 and its 200 day simple moving average is $121.33. The firm has a market cap of $6.67 billion, a price-to-earnings ratio of 40.54 and a beta of 0.60.

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

Insider Activity

In other news, Director Allison Pickens sold 1,232 shares of Commvault Systems 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 of the company’s stock, valued at approximately $1,097,389.59. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Allison Pickens sold 1,232 shares of Commvault Systems 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 approximately $1,097,389.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction of $2,621,414.88. Following the sale, the insider now directly owns 94,530 shares of the company’s stock, valued at approximately $14,251,342.80. 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.