Central Pacific Bank Trust Division Has $167,000 Stock Position in Commvault Systems, Inc. (NASDAQ:CVLT)

Central Pacific Bank Trust Division decreased its position in Commvault Systems, Inc. (NASDAQ:CVLT) by 37.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,086 shares of the software maker’s stock after selling 664 shares during the period. Central Pacific Bank Trust Division’s holdings in Commvault Systems were worth $167,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in Commvault Systems by 49.8% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 58,020 shares of the software maker’s stock valued at $7,053,000 after acquiring an additional 19,300 shares in the last quarter. Creative Planning raised its holdings in Commvault Systems by 67.6% in the 2nd quarter. Creative Planning now owns 7,321 shares of the software maker’s stock valued at $890,000 after acquiring an additional 2,954 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in Commvault Systems in the 2nd quarter valued at approximately $267,000. Scientech Research LLC acquired a new position in Commvault Systems in the 2nd quarter valued at approximately $221,000. Finally, Maverick Capital Ltd. raised its holdings in Commvault Systems by 9.2% in the 2nd quarter. Maverick Capital Ltd. now owns 10,198 shares of the software maker’s stock valued at $1,240,000 after acquiring an additional 861 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Commvault Systems Price Performance

NASDAQ CVLT opened at $153.19 on Friday. The firm has a market cap of $6.70 billion, a PE ratio of 40.74 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. The stock’s 50 day simple moving average is $148.71 and its 200 day simple moving average is $123.55.

Commvault Systems (NASDAQ:CVLT) last released its quarterly earnings results on Tuesday, July 30th. The software maker reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.12. The business had revenue of $224.67 million for the quarter, compared to analyst estimates of $215.54 million. Commvault Systems had a return on equity of 32.16% and a net margin of 20.19%. Commvault Systems’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.29 EPS. As a group, equities analysts expect that Commvault Systems, Inc. will post 1.66 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. StockNews.com cut Commvault Systems from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 31st. Royal Bank of Canada increased their target price on Commvault Systems from $121.00 to $152.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 31st. DA Davidson increased their target price on Commvault Systems from $170.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Piper Sandler increased 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. Finally, Guggenheim reissued a “buy” rating and issued a $122.00 target price on shares of Commvault Systems in a report on Tuesday, June 25th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $140.00.

Insider Buying and Selling at Commvault Systems

In other Commvault Systems news, Director Allison Pickens sold 1,232 shares of the 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 transaction, the director now directly owns 7,131 shares in the company, valued at approximately $1,097,389.59. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Commvault Systems news, insider Gary Merrill sold 17,388 shares of the 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 transaction, the insider now directly owns 94,530 shares in the company, valued at approximately $14,251,342.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Allison Pickens sold 1,232 shares of the 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 transaction, the director now owns 7,131 shares in the company, valued at $1,097,389.59. The trade was a 0.00 % decrease in their ownership of the stock. 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.