Inspire Investing LLC Sells 9,540 Shares of Commvault Systems, Inc. (NASDAQ:CVLT)

Inspire Investing LLC reduced its position in Commvault Systems, Inc. (NASDAQ:CVLT) by 76.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,893 shares of the software maker’s stock after selling 9,540 shares during the quarter. Inspire Investing LLC’s holdings in Commvault Systems were worth $352,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. EFG Asset Management North America Corp. grew its position in Commvault Systems by 0.5% during 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 acquiring an additional 103 shares during the last quarter. Natixis Advisors LLC grew its holdings in shares of Commvault Systems by 1.0% during the 2nd quarter. Natixis Advisors LLC now owns 13,693 shares of the software maker’s stock valued at $1,665,000 after purchasing an additional 138 shares during the last quarter. Commonwealth Equity Services LLC raised its position 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 purchasing an additional 139 shares during the period. Parallel Advisors LLC lifted its stake in Commvault Systems by 5.9% in the second quarter. Parallel Advisors LLC now owns 2,749 shares of the software maker’s stock worth $334,000 after purchasing an additional 153 shares during the last quarter. Finally, Signaturefd LLC lifted its stake in Commvault Systems by 70.8% in the second quarter. Signaturefd LLC now owns 410 shares of the software maker’s stock worth $50,000 after purchasing an additional 170 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors.

Insider Transactions at Commvault Systems

In related news, Director Allison Pickens sold 1,232 shares of Commvault Systems stock in a transaction dated 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 transaction, the director now directly owns 7,131 shares of the company’s stock, valued at approximately $1,097,389.59. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Commvault Systems news, Director Allison Pickens sold 1,232 shares of the firm’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 transaction of $189,592.48. Following the completion of the transaction, the director now owns 7,131 shares of the company’s stock, valued at $1,097,389.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Gary Merrill sold 17,388 shares of the business’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 sale, the insider now directly owns 94,530 shares in the company, valued at $14,251,342.80. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Commvault Systems Price Performance

Shares of CVLT opened at $152.14 on Monday. The company has a 50-day simple moving average of $142.91 and a two-hundred day simple moving average of $120.13. The firm has a market capitalization of $6.66 billion, a PE ratio of 40.46 and a beta of 0.60. Commvault Systems, Inc. has a one year low of $63.70 and a one year high of $157.13.

Commvault Systems (NASDAQ:CVLT) last released its earnings results on Tuesday, July 30th. The software maker reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.12. The company had revenue of $224.67 million during the quarter, compared to analysts’ expectations of $215.54 million. Commvault Systems had a return on equity of 32.16% and a net margin of 20.19%. 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 business posted $0.29 EPS. Analysts expect that Commvault Systems, Inc. will post 1.66 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. StockNews.com lowered Commvault Systems from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 31st. Royal Bank of Canada lifted their target price on shares of Commvault Systems from $121.00 to $152.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 31st. Piper Sandler upped 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. KeyCorp raised their price target on shares of Commvault Systems from $140.00 to $170.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Finally, DA Davidson upped their price objective on shares of Commvault Systems from $170.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average 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.