Royal Bank of Canada Sells 54,695 Shares of CommVault Systems, Inc. $CVLT

Royal Bank of Canada decreased its position in CommVault Systems, Inc. (NASDAQ:CVLT) by 22.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 191,952 shares of the software maker’s stock after selling 54,695 shares during the quarter. Royal Bank of Canada owned about 0.47% of CommVault Systems worth $14,950,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the company. M&T Bank Corp grew its holdings in CommVault Systems by 22,133.9% in the 4th quarter. M&T Bank Corp now owns 610,098 shares of the software maker’s stock valued at $76,482,000 after buying an additional 607,354 shares in the last quarter. TD Asset Management Inc grew its stake in shares of CommVault Systems by 14,047.5% in the fourth quarter. TD Asset Management Inc now owns 381,982 shares of the software maker’s stock valued at $47,885,000 after acquiring an additional 379,282 shares in the last quarter. AQR Capital Management LLC increased its position 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 worth $155,744,000 after acquiring an additional 337,830 shares during the period. Pictet Asset Management Holding SA raised its stake in CommVault Systems by 36.2% in the 1st quarter. Pictet Asset Management Holding SA now owns 1,239,225 shares of the software maker’s stock worth $96,447,000 after purchasing an additional 329,243 shares in the last quarter. Finally, First Trust Advisors LP raised its stake in CommVault Systems by 25.5% in the 4th quarter. First Trust Advisors LP now owns 1,537,034 shares of the software maker’s stock worth $192,683,000 after purchasing an additional 312,178 shares in the last quarter. Institutional investors own 93.50% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Danielle Nicole Abrahamsen sold 254 shares of the firm’s stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $150.00, for a total transaction of $38,100.00. Following the sale, 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Sanjay Mirchandani sold 8,450 shares of the company’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $99.13, for a total value of $837,648.50. Following the completion of the transaction, the chief executive officer directly 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 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 55,279 shares of company stock valued at $5,786,557. 0.86% of the stock is currently owned by insiders.

CommVault Systems Stock Up 1.4%

Shares of NASDAQ CVLT opened at $135.27 on Friday. The company has a market cap of $5.61 billion, a price-to-earnings ratio of 86.16 and a beta of 0.81. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 16.94. CommVault Systems, Inc. has a 12 month low of $71.75 and a 12 month high of $198.18. The stock has a 50-day moving average price of $135.03 and a two-hundred day moving average price of $107.24.

CommVault Systems (NASDAQ:CVLT) last posted its quarterly earnings results on Tuesday, July 28th. The software maker reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.16 by $0.26. The company had revenue of $314.13 million for the quarter, compared to the consensus estimate of $310.43 million. CommVault Systems had a net margin of 5.62% and a return on equity of 88.75%. The firm’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same period last year, the company posted $1.01 EPS. As a group, analysts forecast that CommVault Systems, Inc. will post 2.84 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CVLT has been the topic of several recent research reports. KeyCorp raised 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. Mizuho lifted their price objective on CommVault Systems from $140.00 to $175.00 and gave the company an “outperform” rating in a report on Wednesday, July 15th. Royal Bank Of Canada increased their target price on CommVault Systems from $100.00 to $110.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 29th. Oppenheimer raised their price target on CommVault Systems from $150.00 to $175.00 and gave the stock an “outperform” rating in a research report on Friday, July 17th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $132.00 price target on shares of CommVault Systems in a research note on Monday, July 27th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $152.47.

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.