Westpac Banking Corp reduced its position in CommVault Systems, Inc. (NASDAQ:CVLT) by 14.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 107,000 shares of the software maker’s stock after selling 18,300 shares during the quarter. Westpac Banking Corp owned about 0.24% of CommVault Systems worth $6,040,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of CVLT. BlackRock Inc. boosted its holdings in shares of CommVault Systems by 23,286.9% in the first quarter. BlackRock Inc. now owns 4,239,350 shares of the software maker’s stock valued at $215,359,000 after acquiring an additional 4,221,223 shares during the period. Credit Suisse AG boosted its holdings in shares of CommVault Systems by 989.6% in the first quarter. Credit Suisse AG now owns 648,563 shares of the software maker’s stock valued at $32,947,000 after acquiring an additional 589,040 shares during the period. Citadel Advisors LLC boosted its holdings in shares of CommVault Systems by 156.4% in the first quarter. Citadel Advisors LLC now owns 887,383 shares of the software maker’s stock valued at $45,079,000 after acquiring an additional 541,325 shares during the period. Champlain Investment Partners LLC boosted its holdings in shares of CommVault Systems by 58.4% in the first quarter. Champlain Investment Partners LLC now owns 1,162,085 shares of the software maker’s stock valued at $59,034,000 after acquiring an additional 428,585 shares during the period. Finally, Eagle Asset Management Inc. acquired a new stake in shares of CommVault Systems in the second quarter valued at approximately $15,546,000. 88.71% of the stock is owned by institutional investors and hedge funds.

In other CommVault Systems news, insider Gary Merrill sold 15,000 shares of the business’s stock in a transaction on Friday, June 23rd. The stock was sold at an average price of $57.51, for a total transaction of $862,650.00. Following the completion of the transaction, the insider now owns 39,312 shares in the company, valued at approximately $2,260,833.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Brian Carolan sold 9,174 shares of the business’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $59.80, for a total value of $548,605.20. Following the transaction, the vice president now owns 74,513 shares of the company’s stock, valued at approximately $4,455,877.40. The disclosure for this sale can be found here. Insiders have sold a total of 69,247 shares of company stock valued at $4,136,094 in the last quarter. 13.40% of the stock is currently owned by insiders.

Several equities research analysts recently weighed in on the company. Jefferies Group LLC increased their price target on CommVault Systems from $67.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, July 25th. KeyCorp reaffirmed a “buy” rating and set a $70.00 price target on shares of CommVault Systems in a report on Friday. BidaskClub raised CommVault Systems from a “hold” rating to a “buy” rating in a report on Monday, July 24th. Mitsubishi UFJ Financial Group set a $70.00 price target on CommVault Systems and gave the stock a “buy” rating in a report on Tuesday, July 25th. Finally, Mizuho reaffirmed a “buy” rating and set a $75.00 price target (up from $70.00) on shares of CommVault Systems in a report on Monday, July 24th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $68.90.

CommVault Systems, Inc. (CVLT) opened at 60.85 on Monday. The stock has a market cap of $2.77 billion, a PE ratio of 1067.54 and a beta of 1.44. CommVault Systems, Inc. has a 52-week low of $47.61 and a 52-week high of $64.60. The firm has a 50-day moving average price of $59.76 and a 200 day moving average price of $55.03.

CommVault Systems (NASDAQ:CVLT) last announced its quarterly earnings results on Tuesday, July 25th. The software maker reported $0.21 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.02. CommVault Systems had a return on equity of 0.30% and a net margin of 0.35%. The company had revenue of $165.97 million during the quarter, compared to analyst estimates of $159.92 million. During the same quarter in the previous year, the firm posted $0.21 EPS. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. Equities analysts anticipate that CommVault Systems, Inc. will post $1.22 earnings per share for the current year.

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CommVault Systems Company Profile

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Institutional Ownership by Quarter for CommVault Systems (NASDAQ:CVLT)

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