Epoch Investment Partners Inc. Lowers Stock Position in CommVault Systems, Inc. $CVLT

Epoch Investment Partners Inc. lessened its holdings in shares of CommVault Systems, Inc. (NASDAQ:CVLTFree Report) by 8.1% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 199,866 shares of the software maker’s stock after selling 17,728 shares during the period. Epoch Investment Partners Inc.’s holdings in CommVault Systems were worth $15,568,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CVLT. Vanguard Group Inc. increased its stake in shares of CommVault Systems by 4.4% in the 4th quarter. Vanguard Group Inc. now owns 5,675,590 shares of the software maker’s stock worth $711,492,000 after acquiring an additional 240,093 shares in the last quarter. First Trust Advisors LP lifted its position in CommVault Systems by 25.5% during the 4th quarter. First Trust Advisors LP now owns 1,537,034 shares of the software maker’s stock valued at $192,683,000 after acquiring an additional 312,178 shares during the period. Pictet Asset Management Holding SA boosted its stake in CommVault Systems by 36.2% during the first quarter. Pictet Asset Management Holding SA now owns 1,239,225 shares of the software maker’s stock worth $96,447,000 after acquiring an additional 329,243 shares in the last quarter. Westfield Capital Management Co. LP boosted its stake in CommVault Systems by 34.5% during the fourth quarter. Westfield Capital Management Co. LP now owns 1,057,077 shares of the software maker’s stock worth $132,515,000 after acquiring an additional 270,902 shares in the last quarter. Finally, AQR Capital Management LLC grew its holdings in CommVault Systems by 60.8% in the second quarter. AQR Capital Management LLC now owns 893,385 shares of the software maker’s stock worth $155,744,000 after purchasing an additional 337,830 shares during the period. 93.50% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at CommVault Systems

In related news, CFO Gary Merrill sold 4,554 shares of the business’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 value of $485,911.80. Following the completion of the transaction, the chief financial officer directly owned 72,775 shares in the company, valued at $7,765,092.50. The trade was a 5.89% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 8,450 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $99.13, for a total transaction of $837,648.50. Following the completion of the transaction, the chief executive officer owned 306,927 shares of the company’s stock, valued at approximately $30,425,673.51. The trade was a 2.68% 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. Insiders sold 55,279 shares of company stock valued at $5,786,557 over the last 90 days. Corporate insiders own 0.86% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on CVLT. Zacks Research downgraded shares of CommVault Systems from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. Wall Street Zen cut CommVault Systems from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Wolfe Research began coverage on 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 $125.00 to $175.00 and gave the company an “overweight” rating in a research report on Thursday, July 16th. Finally, Oppenheimer lifted their price objective on CommVault Systems from $150.00 to $175.00 and gave the company an “outperform” rating in a research note on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $145.47.

Read Our Latest Report on CommVault Systems

CommVault Systems Stock Up 0.8%

NASDAQ:CVLT opened at $142.31 on Friday. The firm has a market cap of $5.89 billion, a P/E ratio of 89.50 and a beta of 0.79. The company has a debt-to-equity ratio of 117.54, a quick ratio of 1.95 and a current ratio of 1.95. CommVault Systems, Inc. has a fifty-two week low of $71.75 and a fifty-two week high of $200.68. The firm has a 50-day simple moving average of $130.92 and a two-hundred day simple moving average of $107.03.

CommVault Systems (NASDAQ:CVLTGet Free Report) last issued its earnings results on Tuesday, April 28th. The software maker reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.19. The business had revenue of $311.69 million during the quarter, compared to analysts’ expectations of $306.71 million. CommVault Systems had a net margin of 5.97% and a return on equity of 51.64%. The business’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.03 earnings per share. Analysts predict that CommVault Systems, Inc. will post 2.88 earnings per share for the current fiscal year.

CommVault Systems Company Profile

(Free Report)

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.

See Also

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.