Exchange Traded Concepts LLC Cuts Stock Holdings in Commvault Systems, Inc. (NASDAQ:CVLT)

Exchange Traded Concepts LLC cut its holdings in shares of Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 88.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 821 shares of the software maker's stock after selling 6,270 shares during the quarter. Exchange Traded Concepts LLC's holdings in Commvault Systems were worth $126,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in CVLT. National Bank of Canada FI bought a new stake in shares of Commvault Systems during the second quarter valued at approximately $30,000. Hexagon Capital Partners LLC lifted its stake in shares of 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 acquiring an additional 196 shares during the period. Signaturefd LLC lifted its stake in shares of 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 acquiring an additional 170 shares during the period. Strategic Financial Concepts LLC acquired a new position in shares of Commvault Systems during the second quarter valued at $56,000. Finally, GAMMA Investing LLC lifted its stake in shares of 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 acquiring an additional 309 shares during the period. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. StockNews.com cut Commvault Systems from a "strong-buy" rating to a "buy" rating in a report on Wednesday, July 31st. KeyCorp lifted their target price on Commvault Systems from $140.00 to $170.00 and gave the company an "overweight" rating in a research report on Wednesday, July 31st. Royal Bank of Canada raised their price target on Commvault Systems from $121.00 to $152.00 and gave the company a "sector perform" rating in a research note on Wednesday, July 31st. Guggenheim downgraded Commvault Systems from a "buy" rating to a "neutral" rating in a research note on Tuesday, October 15th. Finally, DA Davidson lifted their target price on Commvault Systems from $170.00 to $175.00 and gave the stock a "buy" rating in a research note on Friday, September 6th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Commvault Systems currently has a consensus rating of "Moderate Buy" and a consensus target price of $140.00.

Commvault Systems Stock Down 2.4 %

NASDAQ:CVLT traded down $3.31 during mid-day trading on Wednesday, hitting $132.26. 382,195 shares of the stock traded hands, compared to its average volume of 345,178. Commvault Systems, Inc. has a 12-month low of $63.70 and a 12-month high of $165.73. The company has a market cap of $5.79 billion, a PE ratio of 35.18 and a beta of 0.60. The business's 50-day moving average price is $149.97 and its 200 day moving average price is $128.23.

Commvault Systems (NASDAQ:CVLT - Get Free Report) last released its quarterly earnings data on Tuesday, July 30th. The software maker reported $0.85 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $215.54 million. During the same quarter in the previous year, the company earned $0.29 earnings per share. The company's revenue for the quarter was up 13.4% compared to the same quarter last year. Analysts anticipate that Commvault Systems, Inc. will post 1.66 earnings per share for the current fiscal year.

Insider Transactions at Commvault Systems

In related news, Director Allison Pickens sold 1,232 shares of the firm's stock in a transaction 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 transaction, the director now directly owns 7,131 shares of the company's stock, valued at approximately $1,097,389.59. This trade 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 this link. In related news, insider Gary Merrill sold 17,388 shares of the business's stock in a transaction 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 transaction, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Allison Pickens sold 1,232 shares of Commvault Systems stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $153.89, for a total transaction of $189,592.48. Following the sale, the director now directly owns 7,131 shares of the company's stock, valued at $1,097,389.59. This represents a 0.00 % decrease in their position. 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.