Madison Asset Management LLC acquired a new stake in CommVault Systems, Inc. (NASDAQ:CVLT – Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 33,284 shares of the software maker’s stock, valued at approximately $4,717,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Versant Capital Management Inc increased its position in shares of CommVault Systems by 15.8% during the 2nd quarter. Versant Capital Management Inc now owns 595 shares of the software maker’s stock valued at $84,000 after purchasing an additional 81 shares during the last quarter. Assetmark Inc. lifted its position in CommVault Systems by 33.6% in the fourth quarter. Assetmark Inc. now owns 326 shares of the software maker’s stock worth $41,000 after buying an additional 82 shares during the last quarter. Captrust Financial Advisors boosted its stake in CommVault Systems by 7.2% during the fourth quarter. Captrust Financial Advisors now owns 2,153 shares of the software maker’s stock worth $270,000 after buying an additional 145 shares during the period. MML Investors Services LLC boosted its stake in CommVault Systems by 6.7% during the fourth quarter. MML Investors Services LLC now owns 2,361 shares of the software maker’s stock worth $296,000 after buying an additional 149 shares during the period. Finally, Benjamin Edwards Inc. increased its position in CommVault Systems by 9.6% during the fourth quarter. Benjamin Edwards Inc. now owns 1,852 shares of the software maker’s stock valued at $232,000 after acquiring an additional 162 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.
Insiders Place Their Bets
In other news, CFO Gary Merrill sold 4,554 shares of the firm’s 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 transaction, the chief financial officer directly owned 72,775 shares of the company’s stock, valued at approximately $7,765,092.50. This trade represents a 5.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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. Also, Director A Shane Sanders sold 476 shares of CommVault Systems 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 sale, the director directly owned 8,696 shares of the company’s stock, valued at $1,166,916.24. This represents a 5.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 34,433 shares of company stock worth $4,756,008. 0.86% of the stock is owned by company insiders.
CommVault Systems Stock Down 4.1%
CommVault Systems (NASDAQ:CVLT – Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The software maker reported $1.42 EPS for the quarter, topping the consensus estimate of $1.16 by $0.26. CommVault Systems had a net margin of 5.62% and a return on equity of 88.75%. The company had revenue of $314.13 million for the quarter, compared to the consensus estimate of $310.43 million. During the same quarter last year, the firm posted $1.01 EPS. The firm’s revenue was up 11.4% compared to the same quarter last year. Equities research analysts expect that CommVault Systems, Inc. will post 2.84 earnings per share for the current year.
More CommVault Systems News
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.
Analyst Upgrades and Downgrades
CVLT has been the subject of several analyst reports. KeyCorp raised their target price on shares of CommVault Systems from $125.00 to $175.00 and gave the stock an “overweight” rating in a report on Thursday, July 16th. Weiss Ratings raised shares of CommVault Systems from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, June 16th. DA Davidson set a $175.00 price objective on shares of CommVault Systems in a research note on Wednesday, July 29th. Oppenheimer boosted their target price on CommVault Systems from $150.00 to $175.00 and gave the company an “outperform” rating in a research report on Friday, July 17th. Finally, Wolfe Research started coverage on CommVault Systems in a research note on Friday, May 1st. They set a “peer perform” rating on the stock. One 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $152.47.
Read Our Latest Analysis on CVLT
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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