Hsbc Holdings PLC Cuts Stock Position in CommVault Systems, Inc. $CVLT

Key Points

• Hsbc Holdings PLC significantly reduced its stake in CommVault Systems, Inc. by 75.6%, owning 3,967 shares valued at $625,000 following the sale of 12,297 shares in the first quarter.
• CommVault's revenue grew by 26% year-over-year to $281.98 million, beating analyst estimates, while its quarterly earnings per share also exceeded projections at $1.01.
• Several brokerages have raised their price target for CommVault stock, with KeyCorp increasing its target from $195.00 to $225.00, reflecting strong confidence in the company's performance.

Hsbc Holdings PLC trimmed its stake in CommVault Systems, Inc. (NASDAQ:CVLT - Free Report) by 75.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,967 shares of the software maker's stock after selling 12,297 shares during the period. Hsbc Holdings PLC's holdings in CommVault Systems were worth $625,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in CVLT. Janney Montgomery Scott LLC purchased a new position in shares of CommVault Systems during the first quarter worth approximately $243,000. Asset Management One Co. Ltd. bought a new position in shares of CommVault Systems in the 1st quarter worth approximately $1,229,000. Principal Financial Group Inc. grew its position in shares of CommVault Systems by 1.4% in the 1st quarter. Principal Financial Group Inc. now owns 122,042 shares of the software maker's stock worth $19,253,000 after buying an additional 1,668 shares during the period. Yorktown Management & Research Co Inc purchased a new position in CommVault Systems during the 1st quarter valued at about $260,000. Finally, Wedge Capital Management L L P NC lifted its position in CommVault Systems by 1,936.0% during the 1st quarter. Wedge Capital Management L L P NC now owns 360,355 shares of the software maker's stock valued at $56,850,000 after acquiring an additional 342,656 shares during the period. Hedge funds and other institutional investors own 93.50% of the company's stock.

CommVault Systems Trading Down 0.7%

Shares of NASDAQ CVLT traded down $1.24 during mid-day trading on Thursday, reaching $177.82. The company had a trading volume of 237,883 shares, compared to its average volume of 502,888. The business's 50-day moving average is $177.58 and its 200-day moving average is $171.58. The stock has a market cap of $7.91 billion, a price-to-earnings ratio of 98.52 and a beta of 0.74. CommVault Systems, Inc. has a 52 week low of $128.07 and a 52 week high of $200.68.

CommVault Systems (NASDAQ:CVLT - Get Free Report) last issued its earnings results on Tuesday, July 29th. The software maker reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.04. The company had revenue of $281.98 million for the quarter, compared to analysts' expectations of $267.83 million. CommVault Systems had a net margin of 7.70% and a return on equity of 30.83%. CommVault Systems's revenue was up 26% on a year-over-year basis. CommVault Systems has set its FY 2026 guidance at EPS. Q2 2026 guidance at EPS. As a group, equities research analysts forecast that CommVault Systems, Inc. will post 1.65 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have issued reports on CVLT shares. DA Davidson lifted their target price on shares of CommVault Systems from $200.00 to $220.00 and gave the stock a "buy" rating in a report on Wednesday, July 30th. Wall Street Zen lowered shares of CommVault Systems from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 9th. Royal Bank Of Canada boosted their target price on shares of CommVault Systems from $185.00 to $217.00 and gave the company a "sector perform" rating in a research report on Wednesday, July 30th. Wells Fargo & Company upped their price target on shares of CommVault Systems from $190.00 to $220.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. Finally, Guggenheim set a $220.00 price target on shares of CommVault Systems in a research report on Tuesday, July 29th. Six equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $205.63.

Insider Activity at CommVault Systems

In other CommVault Systems news, CFO Jennifer Leigh Dirico sold 11,151 shares of the firm's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $178.03, for a total transaction of $1,985,212.53. Following the completion of the transaction, the chief financial officer directly owned 60,052 shares of the company's stock, valued at approximately $10,691,057.56. This trade represents a 15.66% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Gary Merrill sold 2,628 shares of the firm's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $178.03, for a total transaction of $467,862.84. Following the transaction, the insider directly owned 87,081 shares of the company's stock, valued at $15,503,030.43. This represents a 2.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 25,099 shares of company stock valued at $4,466,111 in the last three months. 1.00% of the stock is owned by insiders.

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.