CommVault Systems, Inc. $CVLT Shares Sold by TD Asset Management Inc

TD Asset Management Inc lessened its position in shares of CommVault Systems, Inc. (NASDAQ:CVLT) by 71.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,700 shares of the software maker’s stock after selling 6,900 shares during the period. TD Asset Management Inc’s holdings in CommVault Systems were worth $510,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of CommVault Systems by 8.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 147,410 shares of the software maker’s stock valued at $23,255,000 after purchasing an additional 11,700 shares in the last quarter. Sivia Capital Partners LLC acquired a new stake in CommVault Systems during the 2nd quarter worth approximately $327,000. State of Michigan Retirement System raised its holdings in CommVault Systems by 1.0% in the second quarter. State of Michigan Retirement System now owns 10,612 shares of the software maker’s stock valued at $1,850,000 after buying an additional 100 shares during the period. Sigma Planning Corp purchased a new position in CommVault Systems in the second quarter valued at approximately $437,000. Finally, Bank of New York Mellon Corp lifted its position in CommVault Systems by 6.2% during the second quarter. Bank of New York Mellon Corp now owns 384,621 shares of the software maker’s stock valued at $67,051,000 after buying an additional 22,334 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Gary Merrill sold 1,892 shares of the business’s stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $91.28, for a total value of $172,701.76. Following the transaction, the insider owned 62,833 shares in the company, valued at approximately $5,735,396.24. The trade was a 2.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Sanjay Mirchandani sold 6,480 shares of the stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $90.28, for a total value of $585,014.40. Following the completion of the transaction, the chief executive officer directly owned 352,919 shares of the company’s stock, valued at $31,861,527.32. This represents a 1.80% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 10,965 shares of company stock valued at $991,812 over the last 90 days. Insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

CVLT has been the subject of several research reports. Truist Financial reiterated a “buy” rating and set a $155.00 price objective (down from $175.00) on shares of CommVault Systems in a research note on Wednesday, January 28th. Oppenheimer cut their target price on shares of CommVault Systems from $180.00 to $150.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 28th. KeyCorp reduced their target price on shares of CommVault Systems from $152.00 to $108.00 and set an “overweight” rating on the stock in a report on Wednesday, January 28th. Wall Street Zen raised shares of CommVault Systems from a “hold” rating to a “buy” rating in a research report on Saturday, January 31st. Finally, Wells Fargo & Company lowered their price target on CommVault Systems from $190.00 to $155.00 and set an “overweight” rating for the company in a report on Wednesday, January 28th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $143.58.

CommVault Systems Price Performance

Shares of CVLT stock opened at $87.04 on Friday. The firm has a fifty day simple moving average of $102.91 and a 200-day simple moving average of $137.03. The company has a market capitalization of $3.83 billion, a PE ratio of 44.87 and a beta of 0.59. CommVault Systems, Inc. has a twelve month low of $79.51 and a twelve month high of $200.68. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 4.06.

CommVault Systems (NASDAQ:CVLT) last released its quarterly earnings results on Tuesday, January 27th. The software maker reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.19. CommVault Systems had a net margin of 7.58% and a return on equity of 37.38%. The firm had revenue of $313.83 million for the quarter, compared to the consensus estimate of $299.07 million. During the same quarter in the previous year, the firm posted $0.94 EPS. The firm’s quarterly revenue was up 19.5% on a year-over-year basis. Equities research analysts anticipate that CommVault Systems, Inc. will post 1.65 earnings per share for the current fiscal year.

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.