Handelsbanken Fonder AB Acquires 3,600 Shares of CommVault Systems, Inc. $CVLT

Handelsbanken Fonder AB raised its holdings in shares of CommVault Systems, Inc. (NASDAQ:CVLT) by 24.1% during the second quarter, according to its most recent filing with the SEC. The firm owned 18,530 shares of the software maker’s stock after purchasing an additional 3,600 shares during the period. Handelsbanken Fonder AB’s holdings in CommVault Systems were worth $2,626,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of CVLT. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of CommVault Systems by 8.6% during the first 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 purchased a new stake in CommVault Systems during the second quarter worth $327,000. Cetera Investment Advisers lifted its holdings in CommVault Systems by 13.4% during the second quarter. Cetera Investment Advisers now owns 2,486 shares of the software maker’s stock worth $433,000 after buying an additional 294 shares during the period. EverSource Wealth Advisors LLC boosted its position in CommVault Systems by 188.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 271 shares of the software maker’s stock valued at $47,000 after acquiring an additional 177 shares in the last quarter. Finally, Guggenheim Capital LLC boosted its position in CommVault Systems by 43.8% during the 2nd quarter. Guggenheim Capital LLC now owns 4,245 shares of the software maker’s stock valued at $740,000 after acquiring an additional 1,293 shares in the last quarter. Institutional investors own 93.50% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Sanjay Mirchandani sold 8,450 shares of CommVault Systems stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $99.13, for a total value of $837,648.50. Following the completion of the sale, the chief executive officer directly owned 306,927 shares in the company, valued at $30,425,673.51. This trade represents a 2.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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, Director A Shane Sanders sold 476 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $134.19, for a total transaction of $63,874.44. Following the sale, the director directly owned 8,696 shares in the company, valued at approximately $1,166,916.24. This represents a 5.19% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 43,870 shares of company stock valued at $4,625,634. 0.86% of the stock is currently owned by corporate insiders.

CommVault Systems Stock Performance

Shares of CVLT stock opened at $147.09 on Monday. CommVault Systems, Inc. has a 12-month low of $71.75 and a 12-month high of $198.18. The business’s fifty day simple moving average is $137.29 and its 200-day simple moving average is $107.88. 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 company has a market cap of $6.10 billion, a PE ratio of 93.69 and a beta of 0.81.

CommVault Systems (NASDAQ:CVLT) last announced its earnings results on Tuesday, July 28th. The software maker reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.26. CommVault Systems had a return on equity of 88.75% and a net margin of 5.62%.The firm had revenue of $314.13 million for the quarter, compared to the consensus estimate of $310.43 million. During the same period in the previous year, the business earned $1.01 EPS. The firm’s revenue for the quarter was up 11.4% on a year-over-year basis. Analysts expect that CommVault Systems, Inc. will post 2.84 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CVLT has been the subject of several recent research reports. Jefferies Financial Group reissued a “hold” rating and issued a $130.00 price target on shares of CommVault Systems in a research report on Wednesday, July 29th. Stephens raised their price objective on CommVault Systems from $135.00 to $155.00 and gave the company an “overweight” rating in a research report on Tuesday, June 16th. Scotiabank reiterated a “sector perform” rating and issued a $130.00 target price on shares of CommVault Systems in a research note on Wednesday, July 29th. KeyCorp boosted their target price on shares of CommVault Systems from $125.00 to $175.00 and gave the stock an “overweight” rating in a report on Thursday, July 16th. Finally, Piper Sandler lowered shares of CommVault Systems from an “overweight” rating to a “neutral” rating and set a $133.00 price target for the company. in a research report on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $152.47.

About CommVault Systems

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.