Hexagon Capital Partners LLC Lowers Stock Holdings in Commvault Systems, Inc. (NASDAQ:CVLT)

by · The Cerbat Gem

Hexagon Capital Partners LLC lowered its holdings in Commvault Systems, Inc. (NASDAQ:CVLT – Free Report) by 22.7% in the third quarter, Holdings Channel.com reports. The firm owned 273 shares of the software maker’s stock after selling 80 shares during the period. Hexagon Capital Partners LLC’s holdings in Commvault Systems were worth $42,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in CVLT. Virtu Financial LLC purchased a new stake in shares of Commvault Systems in the fourth quarter valued at $389,000. Vanguard Group Inc. grew its position in shares of Commvault Systems by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 5,488,370 shares of the software maker’s stock valued at $438,246,000 after purchasing an additional 61,556 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Commvault Systems in the fourth quarter valued at $3,092,000. Los Angeles Capital Management LLC grew its position in Commvault Systems by 59.0% during the first quarter. Los Angeles Capital Management LLC now owns 22,102 shares of the software maker’s stock valued at $2,242,000 after acquiring an additional 8,202 shares during the period. Finally, Diversified Trust Co grew its position in Commvault Systems by 33.2% during the first quarter. Diversified Trust Co now owns 8,523 shares of the software maker’s stock valued at $864,000 after acquiring an additional 2,122 shares during the period. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Insiders Place Their Bets

In other news, Director Allison Pickens sold 1,232 shares of the business’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 value of $189,592.48. Following the completion of the sale, the director now directly owns 7,131 shares in the company, valued at approximately $1,097,389.59. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 directly owns 7,131 shares of the company’s stock, valued at approximately $1,097,389.59. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Gary Merrill sold 17,388 shares of the 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 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 disclosure for this sale can be found here. 1.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have issued reports on CVLT. Piper Sandler boosted their price target on Commvault Systems from $107.00 to $123.00 and gave the company a “neutral” rating in a research report on Monday, July 15th. StockNews.com downgraded Commvault Systems from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 31st. DA Davidson boosted 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. Guggenheim reissued a “buy” rating and set a $122.00 price target on shares of Commvault Systems in a research report on Tuesday, June 25th. Finally, Royal Bank of Canada boosted their price target on Commvault Systems from $121.00 to $152.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $140.00.

Get Our Latest Analysis on Commvault Systems

Commvault Systems Price Performance

NASDAQ CVLT opened at $162.70 on Friday. The company has a market capitalization of $7.12 billion, a price-to-earnings ratio of 43.27 and a beta of 0.60. Commvault Systems, Inc. has a 12 month low of $63.70 and a 12 month high of $162.99. The company’s fifty day moving average price is $149.88 and its two-hundred day moving average price is $125.19.

Commvault Systems (NASDAQ:CVLT – Get Free Report) last issued its quarterly earnings results on Tuesday, July 30th. The software maker reported $0.85 EPS for the quarter, topping the consensus estimate 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 net margin of 20.19% and a return on equity of 32.16%. The company’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.29 earnings per share. As a group, analysts anticipate that Commvault Systems, Inc. will post 1.66 EPS for the current year.

Commvault Systems Profile

(Free Report)

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.

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