Millennium Management LLC Has $6.59 Million Position in Commvault Systems, Inc. (NASDAQ:CVLT)

Millennium Management LLC reduced its stake in Commvault Systems, Inc. (NASDAQ:CVLT) by 74.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 54,197 shares of the software maker’s stock after selling 154,165 shares during the period. Millennium Management LLC owned about 0.12% of Commvault Systems worth $6,589,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in CVLT. National Bank of Canada FI acquired a new stake in shares of Commvault Systems in the 2nd quarter valued at approximately $30,000. Hexagon Capital Partners LLC raised 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 during the last quarter. Signaturefd LLC raised its holdings 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 buying an additional 170 shares during the last quarter. Strategic Financial Concepts LLC bought a new position in Commvault Systems in the 2nd quarter valued at approximately $56,000. Finally, GAMMA Investing LLC raised its holdings 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 buying an additional 309 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Commvault Systems Stock Up 0.6 %

NASDAQ:CVLT opened at $160.82 on Friday. The company has a fifty day moving average of $149.88 and a 200-day moving average of $125.19. The firm has a market capitalization of $7.04 billion, a P/E ratio of 42.77 and a beta of 0.60. Commvault Systems, Inc. has a twelve month low of $63.70 and a twelve month high of $162.38.

Commvault Systems (NASDAQ:CVLT) last posted 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 business had revenue of $224.67 million during the quarter, compared to the consensus estimate of $215.54 million. During the same quarter last year, the firm posted $0.29 EPS. Commvault Systems’s revenue was up 13.4% compared to the same quarter last year. On average, analysts anticipate that Commvault Systems, Inc. will post 1.66 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on CVLT shares. Guggenheim reiterated a “buy” rating and issued a $122.00 price objective on shares of Commvault Systems in a report on Tuesday, June 25th. KeyCorp raised their price objective on shares of Commvault Systems from $140.00 to $170.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Royal Bank of Canada raised their price target on shares of Commvault Systems from $121.00 to $152.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 31st. Piper Sandler raised their price target 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. Finally, DA Davidson raised their price target on shares of Commvault Systems from $170.00 to $175.00 and gave the stock a “buy” rating in a report 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 stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $140.00.

Insiders Place Their Bets

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