GAMMA Investing LLC Boosts Stake in Commvault Systems, Inc. (NASDAQ:CVLT)

GAMMA Investing LLC lifted its position in Commvault Systems, Inc. (NASDAQ:CVLT) by 67.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 885 shares of the software maker’s stock after acquiring an additional 356 shares during the period. GAMMA Investing LLC’s holdings in Commvault Systems were worth $136,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in CVLT. National Bank of Canada FI bought a new position in Commvault Systems in the second quarter worth $30,000. Hexagon Capital Partners LLC lifted its position in Commvault Systems by 124.8% during 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 during the period. Signaturefd LLC boosted its stake in Commvault Systems by 70.8% during the second quarter. Signaturefd LLC now owns 410 shares of the software maker’s stock worth $50,000 after acquiring an additional 170 shares in the last quarter. DT Investment Partners LLC purchased a new stake in Commvault Systems in the second quarter worth about $69,000. Finally, Daiwa Securities Group Inc. increased its stake in shares of Commvault Systems by 700.0% during the first quarter. Daiwa Securities Group Inc. now owns 800 shares of the software maker’s stock valued at $81,000 after purchasing an additional 700 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Insider Transactions at Commvault Systems

In related news, Director Allison Pickens sold 1,232 shares of the company’s stock in a transaction 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Gary Merrill sold 17,388 shares of the business’s stock in a transaction that occurred 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 directly owns 94,530 shares in the company, valued at approximately $14,251,342.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale 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 the 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 completion of the transaction, the director now owns 7,131 shares in the company, valued at $1,097,389.59. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on CVLT. Piper Sandler boosted their price target on Commvault Systems from $107.00 to $123.00 and gave the stock a “neutral” rating in a research report on Monday, July 15th. Royal Bank of Canada boosted their target price on Commvault Systems from $121.00 to $152.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 31st. Guggenheim restated a “buy” rating and set a $122.00 price target on shares of Commvault Systems in a report on Tuesday, June 25th. KeyCorp upped their price target on shares of Commvault Systems from $140.00 to $170.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Finally, DA Davidson lifted their target price on shares of Commvault Systems from $170.00 to $175.00 and gave the stock a “buy” rating in a 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. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $140.00.

Commvault Systems Stock Performance

Shares of NASDAQ:CVLT opened at $162.70 on Friday. The business has a 50-day simple moving average of $150.40 and a two-hundred day simple moving average of $125.62. The firm has a market cap of $7.12 billion, a price-to-earnings 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 released its quarterly earnings data on Tuesday, July 30th. The software maker reported $0.85 earnings per share 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 during the quarter, compared to analysts’ expectations of $215.54 million. During the same period in the previous year, the company earned $0.29 earnings per share. The firm’s quarterly revenue was up 13.4% on a year-over-year basis. As a group, research analysts predict that Commvault Systems, Inc. will post 1.66 earnings per share for the current year.

About Commvault Systems

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.