Diversify Wealth Management LLC grew its holdings in CommVault Systems, Inc. (NASDAQ:CVLT – Free Report) by 72.7% during the 1st quarter, Holdings Channel.com reports. The fund owned 12,536 shares of the software maker’s stock after acquiring an additional 5,278 shares during the period. Diversify Wealth Management LLC’s holdings in CommVault Systems were worth $976,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Assetmark Inc. raised its stake in CommVault Systems by 33.6% during the 4th quarter. Assetmark Inc. now owns 326 shares of the software maker’s stock valued at $41,000 after purchasing an additional 82 shares during the period. Captrust Financial Advisors boosted its stake in CommVault Systems by 7.2% in the 4th quarter. Captrust Financial Advisors now owns 2,153 shares of the software maker’s stock worth $270,000 after purchasing an additional 145 shares during the period. MML Investors Services LLC grew its holdings in CommVault Systems by 6.7% during the 4th quarter. MML Investors Services LLC now owns 2,361 shares of the software maker’s stock valued at $296,000 after buying an additional 149 shares in the last quarter. Madison Asset Management LLC grew its holdings in CommVault Systems by 0.6% during the 4th quarter. Madison Asset Management LLC now owns 23,947 shares of the software maker’s stock valued at $3,002,000 after buying an additional 153 shares in the last quarter. Finally, Benjamin Edwards Inc. raised its position in shares of 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 buying an additional 162 shares during the last quarter. Institutional investors own 93.50% of the company’s stock.
CommVault Systems News Summary
Here are the key news stories impacting CommVault Systems this week:
- Positive Sentiment: Mizuho raised its price target on Commvault Systems (CVLT) to $175 from $140 and kept an outperform rating, signaling continued confidence in the company’s growth outlook. Mizuho price target increase
- Neutral Sentiment: Commvault reported strong recent quarterly results, with earnings and revenue both beating expectations and revenue rising 13.3% year over year, which supports the long-term investment case.
- Negative Sentiment: Multiple law firms issued updated reminders about the Commvault securities class action, including an expanded class period and an upcoming July 17 lead-plaintiff deadline, keeping legal risk front and center for shareholders. HBSS expanded class period
- Negative Sentiment: Additional investor alerts from Rosen, Faruqi, Glancy Prongay, Robbins Geller, Pomerantz, the Gross Law Firm, and Portnoy reinforced the litigation story, which can weigh on sentiment even if the operational business remains solid.
CommVault Systems Trading Down 1.7%
CommVault Systems (NASDAQ:CVLT – Get Free Report) last announced its earnings results on Tuesday, April 28th. The software maker reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.19. CommVault Systems had a return on equity of 51.64% and a net margin of 5.97%.The firm had revenue of $311.69 million during the quarter, compared to analysts’ expectations of $306.71 million. During the same quarter in the previous year, the business earned $1.03 EPS. The company’s quarterly revenue was up 13.3% on a year-over-year basis. Research analysts predict that CommVault Systems, Inc. will post 2.88 earnings per share for the current year.
Insider Buying and Selling
In other CommVault Systems news, CFO Gary Merrill sold 4,554 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $106.70, for a total value of $485,911.80. Following the completion of the sale, the chief financial officer owned 72,775 shares of the company’s stock, valued at $7,765,092.50. This trade represents a 5.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 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, CAO Danielle Nicole Abrahamsen sold 254 shares of the business’s stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $150.00, for a total value of $38,100.00. Following the transaction, the chief accounting officer owned 13,156 shares of the company’s stock, valued at $1,973,400. This trade represents a 1.89% 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. Insiders have sold 55,279 shares of company stock valued at $5,786,557 in the last ninety days. 0.86% of the stock is owned by company insiders.
Analysts Set New Price Targets
Several equities analysts recently weighed in on the stock. William Blair reaffirmed a “market perform” rating on shares of CommVault Systems in a research note on Monday, March 23rd. Wolfe Research started coverage on shares of CommVault Systems in a research note on Friday, May 1st. They issued a “peer perform” rating on the stock. KeyCorp raised their price objective on CommVault Systems from $108.00 to $125.00 and gave the company an “overweight” rating in a research report on Wednesday, April 29th. Scotiabank lifted their target price on CommVault Systems from $105.00 to $110.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 29th. Finally, Weiss Ratings upgraded CommVault Systems from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, June 16th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, CommVault Systems currently has a consensus rating of “Moderate Buy” and an average price target of $138.67.
View Our Latest Research 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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