Tidal Investments LLC Grows Stock Position in CommVault Systems, Inc. $CVLT

Tidal Investments LLC raised its holdings in CommVault Systems, Inc. (NASDAQ:CVLTFree Report) by 38.3% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 59,661 shares of the software maker’s stock after acquiring an additional 16,523 shares during the period. Tidal Investments LLC’s holdings in CommVault Systems were worth $8,456,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Intech Investment Management LLC raised 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 purchasing an additional 29,796 shares during the period. Epoch Investment Partners Inc. purchased a new stake in shares of CommVault Systems during the 4th quarter valued at $27,278,000. Madison Asset Management LLC grew its stake in shares of CommVault Systems by 39.7% during the 1st quarter. Madison Asset Management LLC now owns 33,459 shares of the software maker’s stock valued at $2,606,000 after buying an additional 9,512 shares during the period. BNP Paribas Financial Markets increased its holdings in shares of CommVault Systems by 410.8% during the 4th quarter. BNP Paribas Financial Markets now owns 320,468 shares of the software maker’s stock worth $40,174,000 after buying an additional 257,729 shares during the last quarter. Finally, Fort Washington Investment Advisors Inc. OH increased its holdings in shares of CommVault Systems by 64.3% during the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 273,206 shares of the software maker’s stock worth $21,280,000 after buying an additional 106,970 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Danielle Abrahamsen sold 486 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $142.80, for a total transaction of $69,400.80. Following the sale, the chief accounting officer directly owned 12,160 shares in the company, valued at approximately $1,736,448. This trade represents a 3.84% decrease in their position. The sale was disclosed in a 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, CEO Sanjay Mirchandani sold 6,857 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $142.80, for a total value of $979,179.60. Following the transaction, the chief executive officer directly owned 257,676 shares in the company, valued at $36,796,132.80. This trade represents a 2.59% decrease in their ownership of the stock. 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. In the last quarter, insiders have sold 29,602 shares of company stock valued at $4,240,541. Company insiders own 0.86% of the company’s stock.

CommVault Systems Stock Down 1.1%

Shares of NASDAQ CVLT opened at $130.07 on Friday. CommVault Systems, Inc. has a 12-month low of $71.75 and a 12-month high of $198.18. The company has a market cap of $5.39 billion, a P/E ratio of 82.85 and a beta of 0.82. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 16.94. The stock has a fifty day moving average price of $138.21 and a 200 day moving average price of $114.39.

CommVault Systems (NASDAQ:CVLTGet Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The software maker reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.26. CommVault Systems had a return on equity of 88.75% and a net margin of 5.62%.The company had revenue of $314.13 million for the quarter, compared to analysts’ expectations of $310.43 million. During the same quarter in the previous year, the firm posted $1.01 earnings per share. The firm’s quarterly revenue was up 11.4% on a year-over-year basis. Research analysts anticipate that CommVault Systems, Inc. will post 2.84 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CVLT. Mizuho lifted their target price on CommVault Systems from $140.00 to $175.00 and gave the company an “outperform” rating in a report on Wednesday, July 15th. Guggenheim restated a “buy” rating on shares of CommVault Systems in a report on Tuesday, July 28th. Scotiabank restated a “sector perform” rating and issued a $130.00 price objective on shares of CommVault Systems in a report on Wednesday, July 29th. Truist Financial lifted their price objective on CommVault Systems from $155.00 to $182.00 and gave the company a “buy” rating in a research note on Tuesday, July 21st. Finally, Oppenheimer boosted their target price on CommVault Systems from $150.00 to $175.00 and gave the stock an “outperform” rating in a report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, CommVault Systems currently has an average rating of “Moderate Buy” and a consensus price target of $152.62.

Read Our Latest Analysis on CommVault Systems

CommVault Systems Profile

(Free Report)

Commvault Systems, Inc develops data protection and cyber resilience software for organizations seeking to secure, manage and recover data across on-premises, cloud and hybrid environments. Its technology is designed to help businesses protect workloads, reduce the risk of data loss and maintain operations following system failures, cyberattacks or other disruptions.

The company’s offerings include backup and recovery, disaster recovery, data security, cyber recovery and cloud data management solutions.

Further Reading

Want to see what other hedge funds are holding CVLT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CommVault Systems, Inc. (NASDAQ:CVLTFree Report).

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

Receive News & Ratings for CommVault Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CommVault Systems and related companies with MarketBeat.com's FREE daily email newsletter.