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

US Bancorp DE cut its holdings in Commvault Systems, Inc. (NASDAQ:CVLT) by 27.3% during the third quarter, according to 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 period. 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 also recently made changes to their positions in CVLT. Mirae Asset Global Investments Co. Ltd. increased its holdings in Commvault Systems by 7.8% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,379 shares of the software maker’s stock worth $2,168,000 after buying an additional 1,540 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in Commvault Systems by 44.9% during the first quarter. BNP Paribas Financial Markets now owns 78,281 shares of the software maker’s stock worth $7,940,000 after buying an additional 24,243 shares during the last quarter. Daiwa Securities Group Inc. increased its holdings in Commvault Systems by 700.0% during the first quarter. Daiwa Securities Group Inc. now owns 800 shares of the software maker’s stock worth $81,000 after buying an additional 700 shares during the last quarter. Texas Permanent School Fund Corp increased its holdings in Commvault Systems by 1.0% during the first quarter. Texas Permanent School Fund Corp now owns 38,213 shares of the software maker’s stock worth $3,876,000 after buying an additional 383 shares during the last quarter. Finally, Lisanti Capital Growth LLC acquired a new position in Commvault Systems during the first quarter worth $3,162,000. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Gary Merrill sold 17,388 shares of the company’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 completion of the sale, the insider now owns 94,530 shares of the company’s stock, valued at $14,251,342.80. This represents a 0.00 % decrease in their ownership of the stock. 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 company’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 transaction, the insider now owns 94,530 shares of the company’s stock, valued at $14,251,342.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Allison Pickens sold 1,232 shares of the company’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 transaction, 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. 1.00% of the stock is currently owned by company insiders.

Commvault Systems Stock Performance

Shares of Commvault Systems stock opened at $171.62 on Friday. The firm has a 50-day moving average of $151.01 and a 200-day moving average of $132.52. The stock has a market cap of $7.50 billion, a PE ratio of 43.45 and a beta of 0.59. Commvault Systems, Inc. has a 52-week low of $68.02 and a 52-week high of $173.01.

Commvault Systems (NASDAQ:CVLT) last announced its earnings results on Tuesday, October 29th. The software maker reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.07. Commvault Systems had a net margin of 19.75% and a return on equity of 31.62%. The company had revenue of $233.28 million during the quarter, compared to analysts’ expectations of $220.76 million. During the same quarter in the previous year, the business posted $0.30 earnings per share. Commvault Systems’s quarterly revenue was up 16.1% on a year-over-year basis. Equities research analysts predict that Commvault Systems, Inc. will post 1.62 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CVLT. Guggenheim downgraded shares of Commvault Systems from a “buy” rating to a “neutral” rating in a report on Tuesday, October 15th. Piper Sandler lifted their price objective 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. DA Davidson lifted their price objective on shares of Commvault Systems from $170.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Royal Bank of Canada lifted their price objective on shares of Commvault Systems from $164.00 to $182.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 30th. Finally, StockNews.com cut shares of Commvault Systems from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 1st. 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 company 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.