Diversify Wealth Management LLC Purchases New Position in Commvault Systems, Inc. (NASDAQ:CVLT)

Diversify Wealth Management LLC bought a new stake in Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 3,380 shares of the software maker's stock, valued at approximately $520,000.

Several other institutional investors also recently modified their holdings of CVLT. National Bank of Canada FI bought a new stake in Commvault Systems in the second quarter valued at about $30,000. Hexagon Capital Partners LLC increased its stake in shares of Commvault Systems by 124.8% in 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 last quarter. Signaturefd LLC raised its position in shares of Commvault Systems by 70.8% in the 2nd 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 bought a new position in Commvault Systems during the 2nd quarter worth approximately $56,000. Finally, GAMMA Investing LLC grew its holdings in 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 purchasing an additional 309 shares during the period. Institutional investors and hedge funds own 93.50% of the company's stock.

Insider Buying and Selling at Commvault Systems

In related news, Director Allison Pickens sold 1,232 shares of the company's stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $153.89, for a total transaction of $189,592.48. Following 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 SEC, which is accessible through this hyperlink. In other news, insider Gary Merrill sold 17,388 shares of Commvault Systems stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $150.76, for a total value of $2,621,414.88. Following the completion of the transaction, the insider now owns 94,530 shares of the company's stock, valued at $14,251,342.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 transaction 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 ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.00% of the company's stock.

Commvault Systems Stock Down 0.3 %

Shares of NASDAQ:CVLT traded down $0.50 during mid-day trading on Friday, reaching $155.69. 437,408 shares of the stock were exchanged, compared to its average volume of 354,680. The stock's 50 day simple moving average is $149.87 and its 200-day simple moving average is $130.15. Commvault Systems, Inc. has a one year low of $65.43 and a one year high of $171.26. The company has a market cap of $6.81 billion, a P/E ratio of 39.54 and a beta of 0.60.

Commvault Systems (NASDAQ:CVLT - Get Free Report) last posted 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. The company 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 19.75% and a return on equity of 31.62%. The firm's revenue was up 13.4% compared to the same quarter last year. During the same period last year, the company earned $0.29 earnings per share. Analysts anticipate that Commvault Systems, Inc. will post 1.68 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on CVLT shares. Piper Sandler lifted their price target on shares of 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 increased their price target on Commvault Systems from $164.00 to $182.00 and gave the stock a "sector perform" rating in a report on Wednesday. KeyCorp lifted their price objective on Commvault Systems from $140.00 to $170.00 and gave the company an "overweight" rating in a report on Wednesday, July 31st. Guggenheim lowered Commvault Systems from a "buy" rating to a "neutral" rating in a research report on Tuesday, October 15th. Finally, StockNews.com cut Commvault Systems from a "strong-buy" rating to a "buy" rating in a research note on Friday. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $144.29.

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.