Parallel Advisors LLC Grows Position in Commvault Systems, Inc. (NASDAQ:CVLT)

Parallel Advisors LLC raised its position in Commvault Systems, Inc. (NASDAQ:CVLT) by 5.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,749 shares of the software maker’s stock after purchasing an additional 153 shares during the quarter. Parallel Advisors LLC’s holdings in Commvault Systems were worth $334,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

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

Commvault Systems Price Performance

Shares of CVLT stock opened at $148.92 on Thursday. The stock’s 50-day moving average is $141.72 and its 200 day moving average is $119.21. Commvault Systems, Inc. has a 1-year low of $63.70 and a 1-year high of $157.13. The company has a market cap of $6.52 billion, a P/E ratio of 39.61 and a beta of 0.60.

Commvault Systems (NASDAQ:CVLT) last released its quarterly earnings results on Tuesday, July 30th. The software maker reported $0.85 EPS for the quarter, beating the consensus estimate of $0.73 by $0.12. Commvault Systems had a net margin of 20.19% and a return on equity of 32.16%. The business 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 firm posted $0.29 earnings per share. The company’s quarterly revenue was up 13.4% on a year-over-year basis. On average, analysts anticipate that Commvault Systems, Inc. will post 1.66 EPS for the current year.

Insiders Place Their Bets

In other news, Director Allison Pickens sold 1,232 shares of the firm’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 owns 7,131 shares of the company’s stock, valued at approximately $1,097,389.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Commvault Systems news, insider Gary Merrill sold 17,388 shares of the company’s stock in a transaction that occurred on 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 transaction, the insider now owns 94,530 shares in the company, valued at approximately $14,251,342.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Allison Pickens sold 1,232 shares of Commvault Systems stock in a transaction on Friday, August 30th. The stock was sold at an average price of $153.89, for a total transaction of $189,592.48. Following 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.

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.