Strategic Financial Concepts LLC Invests $56,000 in Commvault Systems, Inc. (NASDAQ:CVLT)

Strategic Financial Concepts LLC acquired a new stake in Commvault Systems, Inc. (NASDAQ:CVLT) during the second quarter, Holdings Channel reports. The firm acquired 45,859 shares of the software maker’s stock, valued at approximately $56,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Commvault Systems by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 5,531,703 shares of the software maker’s stock valued at $561,081,000 after acquiring an additional 43,333 shares during the period. Acadian Asset Management LLC raised its stake in Commvault Systems by 16.3% in the 1st quarter. Acadian Asset Management LLC now owns 1,596,635 shares of the software maker’s stock valued at $161,914,000 after acquiring an additional 223,347 shares during the period. Champlain Investment Partners LLC grew its holdings in Commvault Systems by 58.5% during the 1st quarter. Champlain Investment Partners LLC now owns 825,236 shares of the software maker’s stock valued at $83,704,000 after buying an additional 304,459 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Commvault Systems by 6.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 489,101 shares of the software maker’s stock valued at $59,460,000 after buying an additional 31,015 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Commvault Systems by 2.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 472,291 shares of the software maker’s stock valued at $37,712,000 after buying an additional 12,624 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors.

Commvault Systems Price Performance

Shares of CVLT opened at $143.39 on Wednesday. The firm has a market cap of $6.27 billion, a P/E ratio of 38.14 and a beta of 0.60. The stock has a 50 day simple moving average of $138.35 and a two-hundred day simple moving average of $116.82. Commvault Systems, Inc. has a 1 year low of $63.70 and a 1 year high of $157.13.

Commvault Systems (NASDAQ:CVLT) last issued its earnings results on Tuesday, July 30th. The software maker reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.12. The business had revenue of $224.67 million during the quarter, compared to analyst estimates of $215.54 million. Commvault Systems had a return on equity of 32.16% and a net margin of 20.19%. Commvault Systems’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.29 earnings per share. On average, equities analysts anticipate that Commvault Systems, Inc. will post 1.66 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have weighed in on CVLT. StockNews.com lowered Commvault Systems from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 31st. Piper Sandler lifted their target price on Commvault Systems from $107.00 to $123.00 and gave the company a “neutral” rating in a report on Monday, July 15th. DA Davidson boosted their price objective on Commvault Systems from $170.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Guggenheim reissued a “buy” rating and set a $122.00 price objective on shares of Commvault Systems in a report on Tuesday, June 25th. Finally, Wells Fargo & Company boosted their price objective on Commvault Systems from $125.00 to $140.00 and gave the stock an “overweight” rating in a report on Thursday, May 16th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $140.00.

Insiders Place Their Bets

In other Commvault Systems 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Commvault Systems 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Allison Pickens sold 1,232 shares of the business’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 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 approximately $1,097,389.59. The disclosure for this sale can be found here. 1.00% of the stock is owned by insiders.

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.