Healthcare of Ontario Pension Plan Trust Fund Acquires 19,300 Shares of Commvault Systems, Inc. (NASDAQ:CVLT)

Healthcare of Ontario Pension Plan Trust Fund grew its position in Commvault Systems, Inc. (NASDAQ:CVLT) by 49.8% in the second quarter, according to its most recent filing with the SEC. The fund owned 58,020 shares of the software maker’s stock after acquiring an additional 19,300 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned 0.13% of Commvault Systems worth $7,053,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. National Bank of Canada FI acquired a new stake in Commvault Systems in the second quarter valued at $30,000. Hexagon Capital Partners LLC lifted its position 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 acquiring an additional 196 shares in the last quarter. Signaturefd LLC lifted its position in Commvault Systems by 70.8% in the 2nd quarter. Signaturefd LLC now owns 410 shares of the software maker’s stock valued at $50,000 after acquiring an additional 170 shares in the last quarter. Strategic Financial Concepts LLC bought a new position in Commvault Systems in the 2nd quarter valued at about $56,000. Finally, GAMMA Investing LLC lifted its position in Commvault Systems by 140.5% in the 2nd quarter. GAMMA Investing LLC now owns 529 shares of the software maker’s stock valued at $64,000 after acquiring an additional 309 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have commented on CVLT. KeyCorp lifted their target price on shares of Commvault Systems from $140.00 to $170.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. StockNews.com lowered shares of Commvault Systems from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 31st. Royal Bank of Canada boosted their price target on shares of Commvault Systems from $121.00 to $152.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 31st. DA Davidson boosted their price target on shares of Commvault Systems from $170.00 to $175.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Finally, Piper Sandler lifted their price objective on shares of Commvault Systems from $107.00 to $123.00 and gave the stock a “neutral” rating in a report on Monday, July 15th. Three 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 company has an average rating of “Moderate Buy” and an average price target of $140.00.

Insiders Place Their Bets

In other Commvault Systems news, Director Allison Pickens sold 1,232 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $153.89, for a total value of $189,592.48. Following the sale, the director now owns 7,131 shares in the company, valued at approximately $1,097,389.59. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Commvault Systems news, Director Allison Pickens sold 1,232 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $153.89, for a total value of $189,592.48. Following the sale, the director now owns 7,131 shares in the company, valued at approximately $1,097,389.59. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Gary Merrill sold 17,388 shares of the company’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 transaction of $2,621,414.88. Following the completion of the transaction, the insider now owns 94,530 shares in the company, valued at approximately $14,251,342.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

Commvault Systems Price Performance

Shares of NASDAQ CVLT opened at $153.19 on Friday. Commvault Systems, Inc. has a 1 year low of $63.70 and a 1 year high of $157.13. The company’s 50-day moving average is $148.71 and its 200 day moving average is $123.55. The stock has a market capitalization of $6.70 billion, a P/E ratio of 40.74 and a beta of 0.60.

Commvault Systems (NASDAQ:CVLT) last announced its quarterly earnings results on Tuesday, July 30th. The software maker reported $0.85 earnings per share (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 company had revenue of $224.67 million for the quarter, compared to analysts’ expectations of $215.54 million. During the same quarter in the previous year, the company earned $0.29 earnings per share. Commvault Systems’s quarterly revenue was up 13.4% on a year-over-year basis. Research analysts anticipate that Commvault Systems, Inc. will post 1.66 earnings per share for the current year.

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.