US Bancorp DE Has $1.31 Million Stock Holdings in Commvault Systems, Inc. (NASDAQ:CVLT)

US Bancorp DE lowered its stake in shares of Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 27.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,499 shares of the software maker's stock after selling 3,197 shares during the quarter. US Bancorp DE's holdings in Commvault Systems were worth $1,308,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CVLT. National Bank of Canada FI acquired a new stake in shares of Commvault Systems in the 2nd quarter valued at approximately $30,000. Hexagon Capital Partners LLC raised 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 purchasing an additional 196 shares in the last quarter. Signaturefd LLC increased its holdings in Commvault Systems by 70.8% in the second quarter. Signaturefd LLC now owns 410 shares of the software maker's stock valued at $50,000 after buying an additional 170 shares during the last quarter. Strategic Financial Concepts LLC acquired a new stake in Commvault Systems during the second quarter valued at approximately $56,000. Finally, GAMMA Investing LLC lifted its holdings in Commvault Systems by 140.5% during the 2nd quarter. GAMMA Investing LLC now owns 529 shares of the software maker's stock worth $64,000 after buying an additional 309 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company's stock.

Commvault Systems Stock Down 0.3 %

Commvault Systems stock traded down $0.57 during mid-day trading on Friday, reaching $171.05. The company had a trading volume of 151,045 shares, compared to its average volume of 355,123. The company has a 50 day moving average of $151.01 and a 200-day moving average of $132.52. Commvault Systems, Inc. has a 52 week low of $68.02 and a 52 week high of $173.01. The firm has a market cap of $7.48 billion, a price-to-earnings ratio of 43.18 and a beta of 0.59.

Commvault Systems (NASDAQ:CVLT - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The software maker reported $0.83 EPS for the quarter, topping analysts' consensus estimates of $0.76 by $0.07. Commvault Systems had a return on equity of 31.62% and a net margin of 19.75%. The firm had revenue of $233.28 million during the quarter, compared to analyst estimates of $220.76 million. During the same period last year, the company earned $0.30 earnings per share. The company's revenue was up 16.1% on a year-over-year basis. On average, analysts predict that Commvault Systems, Inc. will post 1.62 earnings per share for the current fiscal year.

Insider Activity

In other Commvault Systems news, Director Allison Pickens sold 1,232 shares of Commvault Systems stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $153.89, for a total value of $189,592.48. Following 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 position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider Gary Merrill sold 17,388 shares of the business's stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $150.76, for a total transaction of $2,621,414.88. Following the transaction, the insider now directly 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Allison Pickens sold 1,232 shares of the firm's 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 completion of the sale, the director now owns 7,131 shares in the company, valued at $1,097,389.59. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on CVLT shares. DA Davidson increased 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. KeyCorp increased their price target on Commvault Systems from $140.00 to $170.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 31st. Guggenheim downgraded Commvault Systems from a "buy" rating to a "neutral" rating in a report on Tuesday, October 15th. StockNews.com lowered Commvault Systems from a "strong-buy" rating to a "buy" rating in a report on Friday, November 1st. Finally, Piper Sandler increased their price target on Commvault Systems from $107.00 to $123.00 and gave the company a "neutral" rating in a report on Monday, July 15th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $144.29.

Commvault Systems Company 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.