Hsbc Holdings PLC Has $2.46 Million Stock Holdings in Commvault Systems, Inc. (NASDAQ:CVLT)

Hsbc Holdings PLC grew its holdings in Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 87.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,264 shares of the software maker's stock after acquiring an additional 7,587 shares during the quarter. Hsbc Holdings PLC's holdings in Commvault Systems were worth $2,460,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Invesco Ltd. raised its stake in Commvault Systems by 57.7% during the fourth quarter. Invesco Ltd. now owns 1,660,108 shares of the software maker's stock worth $250,527,000 after acquiring an additional 607,643 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Commvault Systems by 604.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 647,525 shares of the software maker's stock worth $98,479,000 after buying an additional 555,656 shares in the last quarter. Norges Bank bought a new position in Commvault Systems in the fourth quarter valued at about $79,619,000. WCM Investment Management LLC bought a new stake in shares of Commvault Systems during the fourth quarter worth approximately $10,303,000. Finally, Sei Investments Co. lifted its stake in shares of Commvault Systems by 63.9% in the 4th quarter. Sei Investments Co. now owns 157,111 shares of the software maker's stock valued at $23,708,000 after purchasing an additional 61,243 shares during the period. Institutional investors and hedge funds own 93.50% of the company's stock.

Commvault Systems Trading Up 3.9 %

Commvault Systems stock traded up $6.53 during trading hours on Friday, reaching $172.55. 403,441 shares of the stock were exchanged, compared to its average volume of 414,005. The company has a market cap of $7.59 billion, a P/E ratio of 45.29 and a beta of 0.68. The stock has a 50 day moving average of $158.48 and a two-hundred day moving average of $162.05. Commvault Systems, Inc. has a twelve month low of $105.76 and a twelve month high of $190.11.

Commvault Systems (NASDAQ:CVLT - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The software maker reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.10. The business had revenue of $275.04 million during the quarter, compared to the consensus estimate of $262.52 million. Commvault Systems had a return on equity of 28.69% and a net margin of 18.14%. Commvault Systems's revenue for the quarter was up 23.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.79 EPS. On average, analysts expect that Commvault Systems, Inc. will post 1.65 earnings per share for the current fiscal year.

Insider Activity at Commvault Systems

In other Commvault Systems news, insider Gary Merrill sold 3,287 shares of the company's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $186.94, for a total value of $614,471.78. Following the completion of the transaction, the insider now owns 87,316 shares of the company's stock, valued at $16,322,853.04. This represents a 3.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Sanjay Mirchandani sold 12,318 shares of Commvault Systems stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $185.96, for a total value of $2,290,655.28. Following the sale, the chief executive officer now directly owns 427,231 shares in the company, valued at $79,447,876.76. The trade was a 2.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CVLT. Wells Fargo & Company lifted their price objective on shares of Commvault Systems from $180.00 to $190.00 and gave the stock an "overweight" rating in a research note on Wednesday. Royal Bank of Canada raised their target price on shares of Commvault Systems from $175.00 to $185.00 and gave the company a "sector perform" rating in a research report on Wednesday. Piper Sandler dropped their price objective on Commvault Systems from $154.00 to $147.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. KeyCorp cut their target price on shares of Commvault Systems from $195.00 to $185.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. Finally, DA Davidson increased their price objective on shares of Commvault Systems from $185.00 to $200.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Commvault Systems currently has an average rating of "Moderate Buy" and a consensus price target of $175.25.

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.