American Century Companies Inc. Sells 38,529 Shares of CommVault Systems, Inc. $CVLT

American Century Companies Inc. cut its position in CommVault Systems, Inc. (NASDAQ:CVLT) by 64.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,861 shares of the software maker’s stock after selling 38,529 shares during the quarter. American Century Companies Inc.’s holdings in CommVault Systems were worth $3,637,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Brooklyn Investment Group increased its stake in shares of CommVault Systems by 8,550.0% in the first quarter. Brooklyn Investment Group now owns 173 shares of the software maker’s stock valued at $27,000 after buying an additional 171 shares during the period. Northwestern Mutual Wealth Management Co. grew its holdings in CommVault Systems by 126.3% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 516 shares of the software maker’s stock worth $81,000 after acquiring an additional 288 shares during the last quarter. Reyes Financial Architecture Inc. acquired a new position in CommVault Systems in the 2nd quarter valued at approximately $98,000. Spire Wealth Management increased its position in CommVault Systems by 494.1% in the 2nd quarter. Spire Wealth Management now owns 606 shares of the software maker’s stock valued at $106,000 after acquiring an additional 504 shares during the period. Finally, Hennessy Advisors Inc. bought a new position in shares of CommVault Systems during the second quarter valued at $113,000. 93.50% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently weighed in on CVLT shares. Mizuho initiated coverage on shares of CommVault Systems in a research note on Monday. They issued an “outperform” rating and a $190.00 price objective on the stock. Truist Financial reduced their price target on CommVault Systems from $230.00 to $210.00 and set a “buy” rating on the stock in a research report on Wednesday, October 29th. Weiss Ratings reissued a “hold (c)” rating on shares of CommVault Systems in a research note on Wednesday, October 8th. Robert W. Baird began coverage on CommVault Systems in a research report on Monday, October 27th. They set an “outperform” rating and a $215.00 price objective for the company. Finally, Guggenheim reiterated a “buy” rating and issued a $220.00 target price on shares of CommVault Systems in a report on Thursday, October 16th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, CommVault Systems has a consensus rating of “Moderate Buy” and a consensus price target of $194.64.

CommVault Systems Stock Performance

CVLT stock opened at $121.46 on Tuesday. The firm has a market cap of $5.36 billion, a PE ratio of 68.24 and a beta of 0.60. The company has a current ratio of 2.53, a quick ratio of 2.53 and a debt-to-equity ratio of 4.18. The stock has a 50-day moving average price of $146.41 and a 200-day moving average price of $168.36. CommVault Systems, Inc. has a 1-year low of $114.46 and a 1-year high of $200.68.

CommVault Systems (NASDAQ:CVLT) last announced its earnings results on Tuesday, October 28th. The software maker reported $0.91 EPS for the quarter, missing the consensus estimate of $0.95 by ($0.04). CommVault Systems had a net margin of 7.32% and a return on equity of 31.53%. The business had revenue of $276.19 million for the quarter, compared to the consensus estimate of $273.31 million. During the same quarter in the previous year, the company earned $0.83 EPS. The firm’s revenue for the quarter was up 18.4% on a year-over-year basis. As a group, equities research analysts expect that CommVault Systems, Inc. will post 1.65 earnings per share for the current year.

Insider Transactions at CommVault Systems

In related news, CEO Sanjay Mirchandani sold 13,109 shares of the stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $121.15, for a total transaction of $1,588,155.35. Following the transaction, the chief executive officer directly owned 359,260 shares of the company’s stock, valued at $43,524,349. This represents a 3.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Gary Merrill sold 1,845 shares of CommVault Systems stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $122.40, for a total transaction of $225,828.00. Following the completion of the sale, the insider directly owned 67,318 shares of the company’s stock, valued at approximately $8,239,723.20. This trade represents a 2.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 48,355 shares of company stock valued at $6,772,436 in the last quarter. 1.00% of the stock is currently owned by company insiders.

CommVault Systems Profile

Commvault Systems, Inc provides data protection platform that helps customers to secure, defend, and recover their data in the United States and internationally. The company offers Commvault Backup and Recovery, a backup and recovery solution; Commvault Disaster Recovery, a replication and disaster recovery solution; Commvault Complete Data Protection, a data protection solution; and Metallic Data Protection as-a-service, which delivers enterprise-grade data protection as a service on a cloud platform, with advanced built-in security controls.