Headlands Technologies LLC Increases Position in Commvault Systems, Inc. (NASDAQ:CVLT)

Headlands Technologies LLC lifted its position in Commvault Systems, Inc. (NASDAQ:CVLT) by 1,678.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 925 shares of the software maker’s stock after acquiring an additional 873 shares during the period. Headlands Technologies LLC’s holdings in Commvault Systems were worth $112,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. EFG Asset Management North America Corp. increased its holdings in shares of Commvault Systems by 0.5% in the second quarter. EFG Asset Management North America Corp. now owns 21,699 shares of the software maker’s stock valued at $2,637,000 after purchasing an additional 103 shares during the period. Natixis Advisors LLC boosted its position in Commvault Systems by 1.0% in the second quarter. Natixis Advisors LLC now owns 13,693 shares of the software maker’s stock valued at $1,665,000 after buying an additional 138 shares during the last quarter. Commonwealth Equity Services LLC increased its holdings in Commvault Systems by 5.4% in the 2nd quarter. Commonwealth Equity Services LLC now owns 2,701 shares of the software maker’s stock worth $328,000 after buying an additional 139 shares during the period. Signaturefd LLC raised its position in Commvault Systems by 70.8% during the 2nd quarter. Signaturefd LLC now owns 410 shares of the software maker’s stock worth $50,000 after buying an additional 170 shares during the last quarter. Finally, Arizona State Retirement System lifted its stake in Commvault Systems by 1.6% during the 2nd quarter. Arizona State Retirement System now owns 12,224 shares of the software maker’s stock valued at $1,486,000 after acquiring an additional 189 shares during the period. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Insider Activity

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 transaction, the insider now owns 94,530 shares in the company, valued at approximately $14,251,342.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Allison Pickens sold 1,232 shares of the company’s stock in a transaction 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 of the company’s stock, valued at $1,097,389.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Gary Merrill sold 17,388 shares of the 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. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on CVLT shares. StockNews.com cut shares of Commvault Systems from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 31st. Guggenheim reissued a “buy” rating and issued a $122.00 price objective on shares of Commvault Systems in a report on Tuesday, June 25th. Piper Sandler raised their target price on Commvault Systems from $107.00 to $123.00 and gave the stock a “neutral” rating in a report on Monday, July 15th. Royal Bank of Canada boosted their price target on Commvault Systems from $121.00 to $152.00 and gave the company a “sector perform” rating in a report on Wednesday, July 31st. Finally, DA Davidson raised their price objective on shares of Commvault Systems from $170.00 to $175.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $140.00.

Commvault Systems Trading Up 0.6 %

Shares of CVLT opened at $147.81 on Monday. The firm has a market cap of $6.47 billion, a P/E ratio of 39.31 and a beta of 0.60. Commvault Systems, Inc. has a 12 month low of $63.70 and a 12 month high of $157.13. The stock’s 50 day moving average is $140.02 and its two-hundred day moving average is $118.26.

Commvault Systems (NASDAQ:CVLT) last released its quarterly earnings results 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 firm had revenue of $224.67 million for the quarter, compared to analysts’ expectations of $215.54 million. Commvault Systems had a net margin of 20.19% and a return on equity of 32.16%. The firm’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.29 EPS. Equities research analysts forecast that Commvault Systems, Inc. will post 1.66 EPS for the current year.

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.