Northwestern Mutual Wealth Management Co. Trims Stock Holdings in Commvault Systems, Inc. (NASDAQ:CVLT)

Northwestern Mutual Wealth Management Co. decreased its position in Commvault Systems, Inc. (NASDAQ:CVLT) by 35.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 261 shares of the software maker’s stock after selling 142 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Commvault Systems were worth $32,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. National Bank of Canada FI purchased a new position in Commvault Systems during the 2nd quarter valued at about $30,000. Hexagon Capital Partners LLC lifted its holdings 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 purchasing an additional 196 shares during the last quarter. Signaturefd LLC boosted 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 worth $50,000 after purchasing an additional 170 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Commvault Systems by 140.5% in 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. Finally, DT Investment Partners LLC bought a new position in Commvault Systems during the 2nd quarter valued at approximately $69,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Commvault Systems Stock Up 1.2 %

CVLT opened at $162.70 on Monday. The stock has a market capitalization of $7.12 billion, a price-to-earnings ratio of 43.27 and a beta of 0.60. The firm has a 50 day moving average price of $150.40 and a 200-day moving average price of $125.81. Commvault Systems, Inc. has a twelve month low of $63.70 and a twelve month high of $162.99.

Commvault Systems (NASDAQ:CVLT) last announced its earnings results on Tuesday, July 30th. The software maker reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates 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 net margin of 20.19% and a return on equity of 32.16%. The company’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.29 EPS. As a group, analysts expect that Commvault Systems, Inc. will post 1.66 earnings per share for the current year.

Insider Activity at Commvault Systems

In other Commvault Systems news, insider Gary Merrill sold 17,388 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 94,530 shares of the company’s stock, valued at approximately $14,251,342.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Allison Pickens sold 1,232 shares of the company’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 completion of the sale, the director now directly owns 7,131 shares in the company, valued at $1,097,389.59. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Gary Merrill sold 17,388 shares of Commvault Systems stock in a transaction on 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 transaction, the insider now owns 94,530 shares in the company, valued at $14,251,342.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have commented on CVLT shares. Royal Bank of Canada boosted their target price on Commvault Systems from $121.00 to $152.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 31st. Guggenheim reissued a “buy” rating and set a $122.00 price objective on shares of Commvault Systems in a research report on Tuesday, June 25th. StockNews.com cut shares of Commvault Systems from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 31st. Piper Sandler increased their price target on shares of Commvault Systems from $107.00 to $123.00 and gave the company a “neutral” rating in a report on Monday, July 15th. Finally, KeyCorp raised their price target on shares of Commvault Systems from $140.00 to $170.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $140.00.

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.