Great Lakes Advisors LLC bought a new position in CommVault Systems, Inc. (NASDAQ:CVLT – Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 27,101 shares of the software maker’s stock, valued at approximately $3,841,000. Great Lakes Advisors LLC owned about 0.07% of CommVault Systems at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Boston Trust Walden Corp purchased a new position in CommVault Systems during the fourth quarter valued at $30,830,000. Intech Investment Management LLC boosted its stake in CommVault Systems by 52.4% during the fourth quarter. Intech Investment Management LLC now owns 86,634 shares of the software maker’s stock worth $10,860,000 after acquiring an additional 29,796 shares in the last quarter. Epoch Investment Partners Inc. bought a new position in shares of CommVault Systems during the fourth quarter valued at approximately $27,278,000. Madison Asset Management LLC lifted its holdings in shares of CommVault Systems by 39.7% during the first quarter. Madison Asset Management LLC now owns 33,459 shares of the software maker’s stock valued at $2,606,000 after purchasing an additional 9,512 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its position in shares of CommVault Systems by 410.8% in the 4th quarter. BNP Paribas Financial Markets now owns 320,468 shares of the software maker’s stock worth $40,174,000 after purchasing an additional 257,729 shares in the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity at CommVault Systems
In other CommVault Systems news, Director A Shane Sanders sold 476 shares of the stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $134.19, for a total transaction of $63,874.44. Following the completion of the sale, the director directly owned 8,696 shares of the company’s stock, valued at $1,166,916.24. This trade represents a 5.19% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Gary Merrill sold 4,554 shares of CommVault Systems stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $106.70, for a total transaction of $485,911.80. Following the sale, the chief financial officer owned 72,775 shares in the company, valued at approximately $7,765,092.50. The trade was a 5.89% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 34,433 shares of company stock worth $4,756,008 in the last 90 days. Company insiders own 0.86% of the company’s stock.
CommVault Systems Stock Down 4.1%
CommVault Systems (NASDAQ:CVLT – Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The software maker reported $1.42 EPS for the quarter, beating the consensus estimate of $1.16 by $0.26. The firm had revenue of $314.13 million during the quarter, compared to analyst estimates of $310.43 million. CommVault Systems had a net margin of 5.62% and a return on equity of 88.75%. The business’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.01 EPS. As a group, analysts forecast that CommVault Systems, Inc. will post 2.84 earnings per share for the current year.
CommVault Systems News Summary
Here are the key news stories impacting CommVault Systems this week:
- Positive Sentiment: Analysts maintain a consensus “Moderate Buy” rating, with an average price target of approximately $152.47. Recent targets include $155 from Stephens and $182 from Truist, although Piper Sandler downgraded the stock to neutral with a $133 target. CommVault Systems Given Consensus Rating of Moderate Buy by Analysts
- Positive Sentiment: Commvault’s latest quarterly results remain a supportive backdrop: earnings of $1.42 per share exceeded estimates by $0.26, revenue reached $314.13 million, and sales increased 11.4% year over year. CommVault Systems financial and analyst information
- Neutral Sentiment: CEO Sanjay Mirchandani sold 24,134 shares worth roughly $3.47 million from August 17–19. CFO Gary Merrill sold 3,147 shares worth about $451,000, while Chief Accounting Officer Danielle Abrahamsen sold 996 shares worth approximately $143,000. All reported sales were tied to tax withholding and left the executives with substantial remaining holdings. CommVault Systems insider buying and selling
- Negative Sentiment: The concentration of insider selling may create short-term supply and sentiment pressure, particularly with CVLT trading below its 50-day moving average and at a high valuation of more than 80 times earnings. Nevertheless, the planned, tax-related nature of the sales reduces the bearish significance.
Wall Street Analyst Weigh In
A number of research analysts have issued reports on CVLT shares. Zacks Research cut CommVault Systems from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. Stephens lifted their price target on CommVault Systems from $135.00 to $155.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 16th. Wall Street Zen lowered shares of CommVault Systems from a “buy” rating to a “hold” rating in a research note on Saturday, August 15th. KeyCorp upped their target price on shares of CommVault Systems from $125.00 to $175.00 and gave the stock an “overweight” rating in a research note on Thursday, July 16th. Finally, Wolfe Research began coverage on shares of CommVault Systems in a research report on Friday, May 1st. They set a “peer perform” rating for the company. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $152.47.
Get Our Latest Stock Report on CommVault Systems
CommVault Systems Profile
Commvault Systems, Inc is a global provider of data protection and information management software designed to help organizations manage, protect, and activate data across on-premises and cloud environments. Founded in 1996 and headquartered in Tinton Falls, New Jersey, Commvault offers a suite of integrated products and services that enable enterprises to back up, recover, archive, and analyze data. Its flagship solutions include Commvault Complete Data Protection, Commvault HyperScale, and the SaaS-based Metallic portfolio, which deliver scalable and automated data management capabilities across hybrid infrastructure environments.
Commvault’s platform is built on a unified architecture that allows customers to streamline operations, reduce complexity, and ensure data resiliency.
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