Hancock Whitney Corp Sells 438 Shares of Commvault Systems, Inc. (NASDAQ:CVLT)

Hancock Whitney Corp lessened its stake in shares of Commvault Systems, Inc. (NASDAQ:CVLT) by 6.9% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 5,919 shares of the software maker’s stock after selling 438 shares during the period. Hancock Whitney Corp’s holdings in Commvault Systems were worth $600,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. grew its position in shares of Commvault Systems by 0.8% during the first quarter. Vanguard Group Inc. now owns 5,531,703 shares of the software maker’s stock worth $561,081,000 after purchasing an additional 43,333 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in shares of Commvault Systems by 16.3% in the 1st quarter. Acadian Asset Management LLC now owns 1,596,635 shares of the software maker’s stock worth $161,914,000 after purchasing an additional 223,347 shares during the period. Champlain Investment Partners LLC lifted its stake in shares of Commvault Systems by 58.5% during the 1st quarter. Champlain Investment Partners LLC now owns 825,236 shares of the software maker’s stock worth $83,704,000 after acquiring an additional 304,459 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Commvault Systems by 2.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 472,291 shares of the software maker’s stock valued at $37,712,000 after purchasing an additional 12,624 shares in the last quarter. Finally, Norges Bank bought a new stake in Commvault Systems during the 4th quarter valued at $24,134,000. Institutional investors own 93.50% of the company’s stock.

Commvault Systems Stock Down 4.8 %

Shares of Commvault Systems stock traded down $7.32 during mid-day trading on Thursday, reaching $145.53. 312,328 shares of the stock traded hands, compared to its average volume of 343,064. The business has a 50-day moving average of $119.77 and a 200 day moving average of $104.83. Commvault Systems, Inc. has a fifty-two week low of $63.70 and a fifty-two week high of $155.33. The stock has a market capitalization of $6.37 billion, a PE ratio of 38.91 and a beta of 0.61.

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 analysts’ consensus estimates of $0.73 by $0.12. The business had revenue of $224.67 million during the quarter, compared to analyst estimates of $215.54 million. Commvault Systems had a return on equity of 32.16% and a net margin of 20.19%. The business’s revenue was up 13.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.29 earnings per share. On average, equities research analysts expect that Commvault Systems, Inc. will post 1.7 EPS for the current fiscal year.

Insider Activity

In other Commvault Systems news, Director Vivie Lee sold 2,500 shares of the company’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $112.19, for a total transaction of $280,475.00. Following the transaction, the director now directly owns 13,589 shares in the company, valued at $1,524,549.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Vivie Lee sold 2,500 shares of the stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $112.19, for a total value of $280,475.00. Following the sale, the director now directly owns 13,589 shares in the company, valued at $1,524,549.91. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Sanjay Mirchandani sold 15,975 shares of the firm’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $110.20, for a total value of $1,760,445.00. Following the completion of the sale, the chief executive officer now owns 539,465 shares in the company, valued at $59,449,043. The disclosure for this sale can be found here. Insiders sold 59,816 shares of company stock worth $6,613,874 over the last ninety days. Corporate insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on CVLT shares. DA Davidson lifted their target price on Commvault Systems from $125.00 to $135.00 and gave the company a “buy” rating in a research report on Friday, June 14th. KeyCorp lifted their target price on Commvault Systems from $140.00 to $170.00 and gave the company an “overweight” rating in a research report on Wednesday. Guggenheim reaffirmed a “buy” rating and set a $122.00 target price on shares of Commvault Systems in a research report on Tuesday, June 25th. Wells Fargo & Company lifted their target price on Commvault Systems from $125.00 to $140.00 and gave the company an “overweight” rating in a research report on Thursday, May 16th. Finally, StockNews.com downgraded Commvault Systems from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Commvault Systems presently has an average rating of “Moderate Buy” and a consensus target price of $134.29.

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.