Commvault Systems, Inc. (NASDAQ:CVLT – Get Rating) was the recipient of a significant drop in short interest in August. As of August 31st, there was short interest totalling 1,130,000 shares, a drop of 16.3% from the August 15th total of 1,350,000 shares. Based on an average daily trading volume, of 244,400 shares, the days-to-cover ratio is presently 4.6 days. Approximately 2.6% of the company's shares are short sold.

Insider Buying and Selling

In other Commvault Systems news, Director Allison Pickens sold 924 shares of Commvault Systems stock in a transaction on Wednesday, August 24th. The stock was sold at an average price of $56.86, for a total value of $52,538.64. Following the sale, the director now owns 9,029 shares in the company, valued at $513,388.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.99% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Exchange Traded Concepts LLC acquired a new position in Commvault Systems during the 1st quarter worth $29,000. Captrust Financial Advisors grew its stake in Commvault Systems by 64.0% during the 2nd quarter. Captrust Financial Advisors now owns 510 shares of the software maker's stock worth $32,000 after purchasing an additional 199 shares in the last quarter. Quantbot Technologies LP acquired a new position in Commvault Systems during the 2nd quarter worth $64,000. EverSource Wealth Advisors LLC acquired a new position in Commvault Systems during the 2nd quarter worth $65,000. Finally, Lazard Asset Management LLC grew its stake in Commvault Systems by 63.1% during the 1st quarter. Lazard Asset Management LLC now owns 1,321 shares of the software maker's stock worth $87,000 after purchasing an additional 511 shares in the last quarter. 93.97% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Commvault Systems Stock Performance

Shares of NASDAQ CVLT traded up $0.31 during trading on Monday, reaching $52.15. The stock had a trading volume of 294,072 shares, compared to its average volume of 256,044. Commvault Systems has a fifty-two week low of $50.26 and a fifty-two week high of $78.06. The business's 50-day moving average price is $56.42 and its 200-day moving average price is $60.60. The company has a market cap of $2.34 billion, a P/E ratio of 104.30, a PEG ratio of 8.75 and a beta of 0.51.

Commvault Systems (NASDAQ:CVLT – Get Rating) last issued its quarterly earnings data on Tuesday, July 26th. The software maker reported $0.64 earnings per share for the quarter, beating analysts' consensus estimates of $0.63 by $0.01. Commvault Systems had a return on equity of 13.33% and a net margin of 2.96%. The business had revenue of $197.90 million during the quarter, compared to analysts' expectations of $195.21 million. During the same period in the previous year, the firm posted $0.34 earnings per share. The company's revenue was up 7.9% on a year-over-year basis. Analysts forecast that Commvault Systems will post 0.59 EPS for the current fiscal year.

About Commvault Systems

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Commvault Systems, Inc provides data protection and information management software applications and related services 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; and Commvault Complete Data Protection, a data protection solution.

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