Federated Hermes Inc. Acquires 12,329 Shares of Commvault Systems, Inc. (NASDAQ:CVLT)

Federated Hermes Inc. boosted its holdings in Commvault Systems, Inc. (NASDAQ:CVLT) by 13.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 103,834 shares of the software maker’s stock after buying an additional 12,329 shares during the period. Federated Hermes Inc. owned approximately 0.24% of Commvault Systems worth $12,623,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in CVLT. Champlain Investment Partners LLC increased its position in Commvault Systems by 58.5% in the 1st quarter. Champlain Investment Partners LLC now owns 825,236 shares of the software maker’s stock worth $83,704,000 after buying an additional 304,459 shares during the period. Norges Bank bought a new position in Commvault Systems in the 4th quarter worth approximately $24,134,000. Acadian Asset Management LLC increased its position 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 worth $161,914,000 after buying an additional 223,347 shares during the period. M&G Plc bought a new position in Commvault Systems in the 2nd quarter worth approximately $10,265,000. Finally, CANADA LIFE ASSURANCE Co increased its position in Commvault Systems by 247.1% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 110,567 shares of the software maker’s stock worth $11,205,000 after buying an additional 78,713 shares during the period. 93.50% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on CVLT shares. DA Davidson upped their target price on Commvault Systems from $170.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Royal Bank of Canada upped their target price on Commvault Systems from $121.00 to $152.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 31st. KeyCorp upped their target price on Commvault Systems from $140.00 to $170.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Piper Sandler upped their target price on Commvault Systems from $107.00 to $123.00 and gave the company a “neutral” rating in a research note on Monday, July 15th. Finally, Guggenheim restated a “buy” rating and issued a $122.00 target price on shares of Commvault Systems in a research note on Tuesday, June 25th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $140.00.

Insiders Place Their Bets

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

Commvault Systems Price Performance

Commvault Systems stock opened at $150.24 on Tuesday. The stock has a fifty day moving average price of $140.59 and a two-hundred day moving average price of $118.64. Commvault Systems, Inc. has a 52-week low of $63.70 and a 52-week high of $157.13. The firm has a market capitalization of $6.58 billion, a P/E ratio of 39.96 and a beta of 0.60.

Commvault Systems (NASDAQ:CVLT) last released its quarterly earnings data 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. Commvault Systems had a return on equity of 32.16% and a net margin of 20.19%. The firm had revenue of $224.67 million during the quarter, compared to analyst estimates of $215.54 million. During the same period in the prior year, the company posted $0.29 earnings per share. The business’s revenue for the quarter was up 13.4% compared to the same quarter last year. On average, equities research analysts predict that Commvault Systems, Inc. will post 1.66 EPS for the current fiscal year.

Commvault Systems 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.