Hsbc Holdings PLC Purchases 8,663 Shares of CommVault Systems, Inc. $CVLT

Hsbc Holdings PLC boosted its position in CommVault Systems, Inc. (NASDAQ:CVLT - Free Report) by 218.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,630 shares of the software maker's stock after buying an additional 8,663 shares during the period. Hsbc Holdings PLC's holdings in CommVault Systems were worth $2,223,000 at the end of the most recent quarter.

• Commvault Stock: AI Cybersecurity Giant Ready to Double Again

A number of other large investors have also recently bought and sold shares of CVLT. Brooklyn Investment Group lifted its stake in shares of CommVault Systems by 8,550.0% in the 1st quarter. Brooklyn Investment Group now owns 173 shares of the software maker's stock valued at $27,000 after purchasing an additional 171 shares during the period. Employees Retirement System of Texas bought a new stake in CommVault Systems in the second quarter worth approximately $55,000. Northwestern Mutual Wealth Management Co. increased its holdings in CommVault Systems by 126.3% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 516 shares of the software maker's stock worth $81,000 after purchasing an additional 288 shares in the last quarter. Reyes Financial Architecture Inc. acquired a new position in CommVault Systems in the second quarter valued at approximately $98,000. Finally, Spire Wealth Management boosted its holdings in shares of CommVault Systems by 494.1% during the 2nd quarter. Spire Wealth Management now owns 606 shares of the software maker's stock worth $106,000 after buying an additional 504 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at CommVault Systems

In related news, insider Gary Merrill sold 1,845 shares of the firm's stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $122.40, for a total transaction of $225,828.00. Following the transaction, the insider directly owned 67,318 shares of the company's stock, valued at $8,239,723.20. This trade represents a 2.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Jennifer Leigh Dirico sold 830 shares of the business's stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $123.58, for a total transaction of $102,571.40. Following the transaction, the chief financial officer owned 44,313 shares in the company, valued at approximately $5,476,200.54. This trade represents a 1.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 63,264 shares of company stock valued at $9,489,154. 1.00% of the stock is owned by insiders.

CommVault Systems Trading Down 0.3%

• Commvault Continues its Rally, Outpacing Tech Stocks, Midcaps

CVLT opened at $120.99 on Friday. CommVault Systems, Inc. has a fifty-two week low of $114.46 and a fifty-two week high of $200.68. The firm has a market capitalization of $5.33 billion, a PE ratio of 67.97 and a beta of 0.60. The company has a debt-to-equity ratio of 4.18, a current ratio of 2.53 and a quick ratio of 2.53. The company's 50-day moving average is $147.84 and its 200 day moving average is $168.78.

CommVault Systems (NASDAQ:CVLT - Get Free Report) last issued its quarterly earnings data on Tuesday, October 28th. The software maker reported $0.91 EPS for the quarter, missing analysts' consensus estimates of $0.95 by ($0.04). CommVault Systems had a return on equity of 31.53% and a net margin of 7.32%.The company had revenue of $276.19 million for the quarter, compared to the consensus estimate of $273.31 million. During the same period in the prior year, the firm posted $0.83 earnings per share. The business's revenue for the quarter was up 18.4% on a year-over-year basis. As a group, research analysts predict that CommVault Systems, Inc. will post 1.65 earnings per share for the current fiscal year.

Analyst Ratings Changes

• Commvault launches to new highs; more highs to come

Several analysts have recently weighed in on CVLT shares. Truist Financial lowered their price objective on shares of CommVault Systems from $230.00 to $210.00 and set a "buy" rating for the company in a research note on Wednesday, October 29th. Wall Street Zen downgraded shares of CommVault Systems from a "buy" rating to a "hold" rating in a research note on Saturday, November 1st. Piper Sandler upgraded shares of CommVault Systems from a "neutral" rating to an "overweight" rating and upped their price objective for the company from $195.00 to $200.00 in a report on Monday, October 13th. DA Davidson restated a "buy" rating and issued a $220.00 target price on shares of CommVault Systems in a research note on Thursday, November 13th. Finally, Oppenheimer assumed coverage on CommVault Systems in a research report on Monday, November 10th. They issued an "outperform" rating for the company. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, three have issued a Hold rating and one has given a Sell 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 $195.10.

View Our Latest Report on CVLT

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.

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