Federated Hermes Inc. Sells 3,742 Shares of Commvault Systems, Inc. (NASDAQ:CVLT)

Federated Hermes Inc. reduced its holdings in shares of Commvault Systems, Inc. (NASDAQ:CVLT) by 4.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 82,430 shares of the software maker’s stock after selling 3,742 shares during the period. Federated Hermes Inc. owned about 0.19% of Commvault Systems worth $6,582,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of CVLT. PNC Financial Services Group Inc. grew its position in Commvault Systems by 28.5% during the third quarter. PNC Financial Services Group Inc. now owns 1,429 shares of the software maker’s stock valued at $97,000 after acquiring an additional 317 shares during the last quarter. Teza Capital Management LLC bought a new position in Commvault Systems during the third quarter valued at approximately $253,000. DekaBank Deutsche Girozentrale bought a new position in Commvault Systems during the third quarter valued at approximately $269,000. CenterBook Partners LP bought a new position in shares of Commvault Systems in the third quarter worth approximately $272,000. Finally, Duality Advisers LP bought a new position in shares of Commvault Systems in the third quarter worth approximately $273,000. 93.50% of the stock is currently owned by institutional investors.

Commvault Systems Stock Up 0.3 %

Shares of CVLT stock opened at $97.09 on Friday. The stock has a fifty day moving average of $97.39 and a 200 day moving average of $83.56. Commvault Systems, Inc. has a 52 week low of $56.76 and a 52 week high of $102.21. The firm has a market capitalization of $4.25 billion, a price-to-earnings ratio of -3,235.25 and a beta of 0.62.

Commvault Systems (NASDAQ:CVLT) last announced its quarterly earnings results on Tuesday, January 30th. The software maker reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.05. The company had revenue of $216.81 million during the quarter, compared to analyst estimates of $208.01 million. Commvault Systems had a positive return on equity of 32.27% and a negative net margin of 0.09%. The firm’s revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.17 earnings per share. Equities research analysts anticipate that Commvault Systems, Inc. will post 1.35 earnings per share for the current year.

Analyst Upgrades and Downgrades

CVLT has been the topic of several recent analyst reports. Royal Bank of Canada raised their target price on shares of Commvault Systems from $86.00 to $97.00 and gave the stock a “sector perform” rating in a report on Wednesday, January 31st. KeyCorp upgraded shares of Commvault Systems from a “sector weight” rating to an “overweight” rating and set a $109.00 target price on the stock in a report on Wednesday, January 31st. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $85.60.

Insider Buying and Selling at Commvault Systems

In other Commvault Systems news, CEO Sanjay Mirchandani sold 21,494 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $97.82, for a total transaction of $2,102,543.08. Following the completion of the transaction, the chief executive officer now owns 399,356 shares of the company’s stock, valued at $39,065,003.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Allison Pickens sold 990 shares of Commvault Systems stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $94.73, for a total value of $93,782.70. Following the completion of the transaction, the director now owns 7,206 shares of the company’s stock, valued at approximately $682,624.38. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Sanjay Mirchandani sold 21,494 shares of Commvault Systems stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $97.82, for a total value of $2,102,543.08. Following the completion of the transaction, the chief executive officer now directly owns 399,356 shares of the company’s stock, valued at approximately $39,065,003.92. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,306 shares of company stock valued at $2,276,265. 1.00% of the stock is currently owned by company insiders.

Commvault Systems Company 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.