Renaissance Technologies LLC Grows Position in Commvault Systems, Inc. (NASDAQ:CVLT)

Renaissance Technologies LLC boosted its holdings in Commvault Systems, Inc. (NASDAQ:CVLT) by 7.5% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,813,487 shares of the software maker’s stock after buying an additional 126,800 shares during the quarter. Renaissance Technologies LLC owned 4.14% of Commvault Systems worth $220,466,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of CVLT. National Bank of Canada FI bought a new position in Commvault Systems during the second quarter valued at approximately $30,000. Hexagon Capital Partners LLC lifted its holdings in shares of Commvault Systems by 124.8% during 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 period. Signaturefd LLC boosted 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 buying an additional 170 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Commvault Systems by 140.5% in the second quarter. GAMMA Investing LLC now owns 529 shares of the software maker’s stock worth $64,000 after acquiring an additional 309 shares during the period. Finally, DT Investment Partners LLC purchased a new stake in Commvault Systems during the second quarter valued at $69,000. Institutional investors own 93.50% of the company’s stock.

Insider Activity

In related news, Director Allison Pickens sold 1,232 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $153.89, for a total value of $189,592.48. Following the sale, the director now directly owns 7,131 shares in the company, valued at $1,097,389.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Allison Pickens sold 1,232 shares of the business’s 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 sale, the director now owns 7,131 shares in the company, valued at $1,097,389.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 sale, the insider now directly owns 94,530 shares in the company, valued at approximately $14,251,342.80. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

Commvault Systems Trading Up 0.6 %

NASDAQ:CVLT opened at $147.81 on Monday. The stock has a 50-day moving average price of $140.02 and a 200 day moving average price of $118.26. The stock has a market capitalization of $6.47 billion, a P/E ratio of 39.31 and a beta of 0.60. Commvault Systems, Inc. has a 12-month low of $63.70 and a 12-month 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, topping the consensus estimate of $0.73 by $0.12. The firm had revenue of $224.67 million for the quarter, compared to the consensus estimate of $215.54 million. Commvault Systems had a net margin of 20.19% and a return on equity of 32.16%. The company’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.29 earnings per share. On average, research analysts predict that Commvault Systems, Inc. will post 1.66 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have issued reports on CVLT. StockNews.com downgraded Commvault Systems from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 31st. KeyCorp increased their price target 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. Piper Sandler upped their price objective on Commvault Systems from $107.00 to $123.00 and gave the stock a “neutral” rating in a research note on Monday, July 15th. DA Davidson lifted their target price on Commvault Systems from $170.00 to $175.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Finally, Royal Bank of Canada upped their price target on Commvault Systems from $121.00 to $152.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 31st. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $140.00.

Commvault Systems 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.