PNC Financial Services Group Inc. Has $354,000 Holdings in CommVault Systems, Inc. (CVLT)

PNC Financial Services Group Inc. boosted its stake in shares of CommVault Systems, Inc. (NASDAQ:CVLT) by 16.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,277 shares of the software maker’s stock after acquiring an additional 878 shares during the quarter. PNC Financial Services Group Inc.’s holdings in CommVault Systems were worth $354,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in CommVault Systems by 11.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,904 shares of the software maker’s stock worth $107,000 after acquiring an additional 203 shares during the last quarter. US Bancorp DE grew its stake in shares of CommVault Systems by 47.0% during the second quarter. US Bancorp DE now owns 2,102 shares of the software maker’s stock valued at $119,000 after buying an additional 672 shares during the last quarter. Riverhead Capital Management LLC grew its stake in shares of CommVault Systems by 70.9% during the second quarter. Riverhead Capital Management LLC now owns 2,563 shares of the software maker’s stock valued at $145,000 after buying an additional 1,063 shares during the last quarter. Pacad Investment Ltd. grew its stake in shares of CommVault Systems by 88.9% during the second quarter. Pacad Investment Ltd. now owns 3,400 shares of the software maker’s stock valued at $192,000 after buying an additional 1,600 shares during the last quarter. Finally, OppenheimerFunds Inc. bought a new position in shares of CommVault Systems during the first quarter valued at approximately $201,000. 88.46% of the stock is currently owned by institutional investors.

A number of research analysts have recently commented on the company. Jefferies Group LLC upped their target price on CommVault Systems from $67.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, July 25th. KeyCorp reaffirmed a “buy” rating and set a $70.00 target price on shares of CommVault Systems in a research note on Friday, September 1st. BidaskClub raised CommVault Systems from a “hold” rating to a “buy” rating in a research note on Monday, July 24th. Mitsubishi UFJ Financial Group set a $70.00 target price on CommVault Systems and gave the company a “buy” rating in a research note on Tuesday, July 25th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating on shares of CommVault Systems in a research note on Monday, October 9th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $70.67.

In other news, insider Gary Merrill sold 3,072 shares of CommVault Systems stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $59.01, for a total transaction of $181,278.72. Following the sale, the insider now owns 23,878 shares of the company’s stock, valued at approximately $1,409,040.78. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Brian Carolan sold 8,000 shares of CommVault Systems stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $62.95, for a total transaction of $503,600.00. Following the sale, the vice president now directly owns 82,471 shares in the company, valued at approximately $5,191,549.45. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 61,507 shares of company stock worth $3,733,597. Corporate insiders own 13.40% of the company’s stock.

CommVault Systems, Inc. (NASDAQ CVLT) opened at 58.05 on Friday. The company has a market cap of $2.64 billion, a PE ratio of 1018.42 and a beta of 1.40. CommVault Systems, Inc. has a 1-year low of $47.61 and a 1-year high of $64.60. The stock’s 50 day moving average price is $61.06 and its 200-day moving average price is $57.64.

CommVault Systems (NASDAQ:CVLT) last released its quarterly earnings results on Tuesday, July 25th. The software maker reported $0.21 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.02. The firm had revenue of $165.97 million for the quarter, compared to analyst estimates of $159.92 million. CommVault Systems had a net margin of 0.35% and a return on equity of 0.30%. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.21 EPS. On average, analysts forecast that CommVault Systems, Inc. will post $1.22 earnings per share for the current year.

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CommVault Systems Profile

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Institutional Ownership by Quarter for CommVault Systems (NASDAQ:CVLT)

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