Hsbc Holdings PLC Trims Stake in Commvault Systems, Inc. (NASDAQ:CVLT)

Hsbc Holdings PLC trimmed its stake in Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 34.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,528 shares of the software maker's stock after selling 16,736 shares during the period. Hsbc Holdings PLC owned 0.07% of Commvault Systems worth $3,831,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Vanguard Personalized Indexing Management LLC increased its position in Commvault Systems by 11.8% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 3,984 shares of the software maker's stock worth $484,000 after buying an additional 420 shares in the last quarter. Renaissance Technologies LLC raised its stake in Commvault Systems by 7.5% during the 2nd 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 during the period. Dimensional Fund Advisors LP lifted its holdings in Commvault Systems by 0.5% during the second quarter. Dimensional Fund Advisors LP now owns 523,474 shares of the software maker's stock valued at $63,637,000 after purchasing an additional 2,633 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in shares of Commvault Systems by 30.8% in the second quarter. Envestnet Asset Management Inc. now owns 57,198 shares of the software maker's stock worth $6,954,000 after purchasing an additional 13,472 shares during the period. Finally, Parallel Advisors LLC increased its stake in shares of Commvault Systems by 5.9% in the second quarter. Parallel Advisors LLC now owns 2,749 shares of the software maker's stock worth $334,000 after purchasing an additional 153 shares in the last quarter. 93.50% of the stock is owned by institutional investors.

Commvault Systems Trading Down 0.2 %

Shares of CVLT stock traded down $0.30 on Wednesday, reaching $152.06. The company's stock had a trading volume of 85,818 shares, compared to its average volume of 347,583. The company has a market capitalization of $6.65 billion, a price-to-earnings ratio of 40.52 and a beta of 0.60. The stock's fifty day simple moving average is $144.10 and its 200-day simple moving average is $120.90. Commvault Systems, Inc. has a 1 year low of $63.70 and a 1 year high of $157.13.

Commvault Systems (NASDAQ:CVLT - Get Free Report) last posted its earnings results on Tuesday, July 30th. The software maker reported $0.85 earnings per share for the quarter, topping analysts' consensus estimates of $0.73 by $0.12. The firm had revenue of $224.67 million for the quarter, compared to the consensus estimate of $215.54 million. Commvault Systems had a net margin of 20.19% and a return on equity of 32.16%. The business's quarterly revenue was up 13.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.29 EPS. Equities research analysts forecast that Commvault Systems, Inc. will post 1.66 earnings per share for the current year.

Wall Street Analyst Weigh In

CVLT has been the subject of several recent analyst reports. DA Davidson upped 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. Piper Sandler lifted their target price on Commvault Systems from $107.00 to $123.00 and gave the company a "neutral" rating in a research note on Monday, July 15th. StockNews.com downgraded Commvault Systems from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, July 31st. Royal Bank of Canada increased their price objective on shares of Commvault Systems from $121.00 to $152.00 and gave the company a "sector perform" rating in a report on Wednesday, July 31st. Finally, Guggenheim reissued a "buy" rating and issued a $122.00 target price on shares of Commvault Systems in a report on Tuesday, June 25th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Commvault Systems has an average rating of "Moderate Buy" and a consensus price target of $140.00.

Insider Buying and Selling at Commvault Systems

In other news, Director Allison Pickens sold 1,232 shares of Commvault Systems 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 transaction, the director now owns 7,131 shares in the company, valued at approximately $1,097,389.59. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Allison Pickens sold 1,232 shares of the 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. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Gary Merrill sold 17,388 shares of the stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $150.76, for a total value 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 disclosure for this sale can be found here. Company insiders own 1.00% of the company's stock.

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.