Commvault Systems, Inc. (NASDAQ:CVLT) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company reduced its stake in shares of Commvault Systems, Inc. (NASDAQ:CVLT) by 16.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 361,759 shares of the software maker’s stock after selling 72,294 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.83% of Commvault Systems worth $43,979,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. National Bank of Canada FI acquired a new stake in shares of Commvault Systems during the second quarter worth $30,000. Hexagon Capital Partners LLC lifted its position in 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 purchasing an additional 196 shares during the period. Signaturefd LLC lifted its position in 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 purchasing an additional 170 shares during the period. GAMMA Investing LLC lifted its position in 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 purchasing an additional 309 shares during the period. Finally, DT Investment Partners LLC acquired a new position in Commvault Systems during the second quarter valued at $69,000. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Commvault Systems

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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Gary Merrill sold 17,388 shares of the company’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 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. Corporate insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on CVLT shares. 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. StockNews.com downgraded shares of Commvault Systems from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 31st. 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. KeyCorp upped their price objective on shares of Commvault Systems from $140.00 to $170.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Finally, DA Davidson upped their price objective on shares of Commvault Systems from $170.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $140.00.

Commvault Systems Stock Down 0.4 %

CVLT stock opened at $151.82 on Monday. The stock has a market capitalization of $6.64 billion, a P/E ratio of 40.38 and a beta of 0.60. The firm has a 50-day simple moving average of $145.94 and a 200-day simple moving average of $121.87. Commvault Systems, Inc. has a 52 week low of $63.70 and a 52 week high of $157.13.

Commvault Systems (NASDAQ:CVLT) last released its 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 during the quarter, compared to analysts’ expectations of $215.54 million. Commvault Systems had a net margin of 20.19% and a return on equity of 32.16%. The company’s quarterly revenue was up 13.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.29 earnings per share. On average, analysts expect that Commvault Systems, Inc. will post 1.66 earnings per share for the current year.

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.