USA Financial Formulas Has $111,000 Stake in Commvault Systems, Inc. (NASDAQ:CVLT)

USA Financial Formulas reduced its holdings in Commvault Systems, Inc. (NASDAQ:CVLT) by 17.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 724 shares of the software maker’s stock after selling 157 shares during the period. USA Financial Formulas’ holdings in Commvault Systems were worth $111,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CVLT. Champlain Investment Partners LLC raised its holdings in Commvault Systems by 58.5% in the first quarter. Champlain Investment Partners LLC now owns 825,236 shares of the software maker’s stock worth $83,704,000 after purchasing an additional 304,459 shares during the period. Acadian Asset Management LLC lifted its holdings in Commvault Systems by 16.3% during the first quarter. Acadian Asset Management LLC now owns 1,596,635 shares of the software maker’s stock worth $161,914,000 after acquiring an additional 223,347 shares in the last quarter. AQR Capital Management LLC grew its stake in Commvault Systems by 33.5% in the second quarter. AQR Capital Management LLC now owns 648,858 shares of the software maker’s stock valued at $78,882,000 after acquiring an additional 162,722 shares during the period. Renaissance Technologies LLC increased its holdings in shares of Commvault Systems by 7.5% in the second quarter. Renaissance Technologies LLC now owns 1,813,487 shares of the software maker’s stock worth $220,466,000 after acquiring an additional 126,800 shares in the last quarter. Finally, M&G Plc acquired a new stake in shares of Commvault Systems during the second quarter worth about $10,265,000. 93.50% of the stock is owned by institutional investors.

Insider Buying and Selling at Commvault Systems

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

Analyst Ratings Changes

A number of analysts recently issued reports on the company. StockNews.com cut Commvault Systems from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 31st. DA Davidson raised their price objective 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. Piper Sandler upped their target price on shares of Commvault Systems from $107.00 to $123.00 and gave the stock a “neutral” rating in a research note on Monday, July 15th. KeyCorp lifted 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 upped their price objective on Commvault Systems from $121.00 to $152.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 31st. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Commvault Systems currently has an average rating of “Moderate Buy” and an average price target of $140.00.

Commvault Systems Stock Performance

NASDAQ:CVLT opened at $160.82 on Friday. Commvault Systems, Inc. has a 52-week low of $63.70 and a 52-week high of $162.38. The company has a market cap of $7.04 billion, a P/E ratio of 42.77 and a beta of 0.60. The stock’s 50-day simple moving average is $149.88 and its 200 day simple moving average is $125.19.

Commvault Systems (NASDAQ:CVLT) last announced its quarterly earnings data on Tuesday, July 30th. The software maker reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.12. Commvault Systems had a return on equity of 32.16% and a net margin of 20.19%. The company had revenue of $224.67 million for the quarter, compared to analysts’ expectations of $215.54 million. During the same quarter in the prior year, the business posted $0.29 EPS. The business’s revenue was up 13.4% compared to the same quarter last year. As a group, equities analysts predict that Commvault Systems, Inc. will post 1.66 earnings per share for the current fiscal 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.