First Trust Advisors LP Grows Stake in CommVault Systems, Inc. $CVLT

First Trust Advisors LP boosted its holdings in shares of CommVault Systems, Inc. (NASDAQ:CVLT) by 1,335.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,224,856 shares of the software maker’s stock after purchasing an additional 1,139,547 shares during the quarter. First Trust Advisors LP’s holdings in CommVault Systems were worth $231,228,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CVLT. Vanguard Group Inc. lifted its holdings in shares of CommVault Systems by 2.1% in the third quarter. Vanguard Group Inc. now owns 5,435,497 shares of the software maker’s stock worth $1,026,113,000 after buying an additional 112,008 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of CommVault Systems by 2.0% during the second quarter. Geode Capital Management LLC now owns 1,337,403 shares of the software maker’s stock worth $233,172,000 after acquiring an additional 26,207 shares during the last quarter. AQR Capital Management LLC grew its stake in CommVault Systems by 60.8% during the second quarter. AQR Capital Management LLC now owns 893,385 shares of the software maker’s stock valued at $155,744,000 after acquiring an additional 337,830 shares in the last quarter. Westfield Capital Management Co. LP increased its holdings in CommVault Systems by 135.6% in the 3rd quarter. Westfield Capital Management Co. LP now owns 786,175 shares of the software maker’s stock valued at $148,414,000 after acquiring an additional 452,422 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in CommVault Systems by 15.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 637,404 shares of the software maker’s stock worth $118,481,000 after purchasing an additional 83,906 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors.

CommVault Systems Stock Performance

CommVault Systems stock opened at $87.04 on Friday. The company’s 50-day moving average price is $102.91 and its 200-day moving average price is $136.76. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 4.06. The company has a market cap 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.

CommVault Systems (NASDAQ:CVLT) last announced its quarterly earnings results on Tuesday, January 27th. The software maker reported $1.17 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.19. The firm had revenue of $313.83 million during the quarter, compared to the consensus estimate of $299.07 million. CommVault Systems had a net margin of 7.58% and a return on equity of 37.38%. The firm’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.94 EPS. On average, equities research analysts forecast that CommVault Systems, Inc. will post 1.65 EPS for the current fiscal year.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

Several research analysts have commented on CVLT shares. Cantor Fitzgerald dropped their price objective on shares of CommVault Systems from $144.00 to $100.00 and set a “neutral” rating for the company in a report on Wednesday, January 28th. Wells Fargo & Company decreased their target price on CommVault Systems from $190.00 to $155.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 28th. Mizuho dropped their price target on CommVault Systems from $180.00 to $140.00 and set an “outperform” rating for the company in a research note on Wednesday, January 28th. KeyCorp cut their price target on CommVault Systems from $152.00 to $108.00 and set an “overweight” rating for the company in a report on Wednesday, January 28th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $155.00 price objective (down from $175.00) on shares of CommVault Systems in a research note on Wednesday, January 28th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, CommVault Systems presently has a consensus rating of “Moderate Buy” and a consensus price target of $143.58.

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.