CommVault Systems, Inc. $CVLT Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lessened its stake in shares of CommVault Systems, Inc. (NASDAQ:CVLT) by 34.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,282 shares of the software maker’s stock after selling 20,252 shares during the quarter. Thrivent Financial for Lutherans owned about 0.09% of CommVault Systems worth $6,674,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CVLT. Versor Investments LP boosted its holdings in shares of CommVault Systems by 158.6% in the second quarter. Versor Investments LP now owns 4,396 shares of the software maker’s stock valued at $766,000 after acquiring an additional 2,696 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in CommVault Systems by 23.8% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,750 shares of the software maker’s stock valued at $305,000 after purchasing an additional 336 shares during the period. Vise Technologies Inc. acquired a new stake in CommVault Systems in the second quarter valued at about $429,000. Allworth Financial LP boosted its holdings in CommVault Systems by 19,656.7% in the 2nd quarter. Allworth Financial LP now owns 11,854 shares of the software maker’s stock valued at $2,067,000 after purchasing an additional 11,794 shares in the last quarter. Finally, Bailard Inc. acquired a new position in CommVault Systems during the 2nd quarter worth approximately $704,000. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

CommVault Systems Stock Up 1.6%

CVLT opened at $125.10 on Friday. The firm has a market cap of $5.52 billion, a P/E ratio of 70.28 and a beta of 0.60. The business’s fifty day simple moving average is $137.22 and its 200 day simple moving average is $165.44. CommVault Systems, Inc. has a 52 week low of $114.46 and a 52 week high of $200.68. The company has a quick ratio of 2.53, a current ratio of 2.53 and a debt-to-equity ratio of 4.18.

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

Insider Activity at CommVault Systems

In related news, insider Gary Merrill sold 2,674 shares of the company’s stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $123.58, for a total transaction of $330,452.92. Following the transaction, the insider owned 69,163 shares of the company’s stock, valued at approximately $8,547,163.54. This represents a 3.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Jennifer Leigh Dirico sold 830 shares of CommVault Systems stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $123.58, for a total transaction of $102,571.40. Following the completion of the sale, the chief financial officer directly owned 44,313 shares of the company’s stock, valued at $5,476,200.54. The trade was a 1.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 33,111 shares of company stock valued at $4,058,851. Company insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Zacks Research cut CommVault Systems from a “strong-buy” rating to a “strong sell” rating in a report on Friday, October 31st. Robert W. Baird initiated coverage on CommVault Systems in a report on Monday, October 27th. They issued an “outperform” rating and a $215.00 target price for the company. Royal Bank Of Canada lowered their price target on shares of CommVault Systems from $217.00 to $167.00 and set a “sector perform” rating on the stock in a research note on Wednesday, October 29th. Truist Financial reduced their price objective on shares of CommVault Systems from $230.00 to $210.00 and set a “buy” rating for the company in a research note on Wednesday, October 29th. Finally, Wells Fargo & Company decreased their price objective on shares of CommVault Systems from $220.00 to $190.00 and set an “overweight” rating on the stock in a report on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $194.64.

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.