Dimensional Fund Advisors LP Grows Stock Position in Commvault Systems, Inc. (NASDAQ:CVLT)

Dimensional Fund Advisors LP boosted its position in shares of Commvault Systems, Inc. (NASDAQ:CVLT) by 0.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 523,474 shares of the software maker’s stock after buying an additional 2,633 shares during the quarter. Dimensional Fund Advisors LP owned approximately 1.20% of Commvault Systems worth $63,637,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of CVLT. National Bank of Canada FI purchased a new stake in shares of Commvault Systems during the second quarter worth about $30,000. Hexagon Capital Partners LLC grew its holdings in Commvault Systems by 124.8% in the 2nd quarter. Hexagon Capital Partners LLC now owns 353 shares of the software maker’s stock valued at $43,000 after buying an additional 196 shares in the last quarter. Signaturefd LLC increased its stake in shares of Commvault Systems by 70.8% in the 2nd quarter. Signaturefd LLC now owns 410 shares of the software maker’s stock worth $50,000 after acquiring an additional 170 shares during the last quarter. Strategic Financial Concepts LLC purchased a new position in Commvault Systems during the second quarter worth about $56,000. Finally, GAMMA Investing LLC lifted its holdings in Commvault Systems by 140.5% in the second quarter. GAMMA Investing LLC now owns 529 shares of the software maker’s stock valued at $64,000 after acquiring an additional 309 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Insider Buying and Selling

In other news, insider Gary Merrill sold 17,388 shares of Commvault Systems stock in a transaction dated 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 transaction, the insider now directly owns 94,530 shares of the company’s stock, valued at approximately $14,251,342.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Commvault Systems news, Director Allison Pickens sold 1,232 shares of Commvault Systems stock in a transaction that occurred 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 directly owns 7,131 shares in the company, valued at approximately $1,097,389.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Gary Merrill sold 17,388 shares of the company’s stock in a transaction 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 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. 1.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Piper Sandler increased their price target 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. KeyCorp raised their price objective 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. StockNews.com cut Commvault Systems from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 31st. Guggenheim reaffirmed a “buy” rating and issued a $122.00 target price on shares of Commvault Systems in a report on Tuesday, June 25th. Finally, DA Davidson boosted 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 equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Commvault Systems has an average rating of “Moderate Buy” and a consensus target price of $140.00.

Commvault Systems Stock Performance

CVLT opened at $151.82 on Friday. The business’s fifty day moving average is $145.32 and its two-hundred day moving average is $121.33. Commvault Systems, Inc. has a one year low of $63.70 and a one year high of $157.13. The company has a market cap of $6.64 billion, a price-to-earnings ratio of 40.38 and a beta of 0.60.

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