Allianz Asset Management GmbH Cuts Stake in CommVault Systems, Inc. $CVLT

Allianz Asset Management GmbH lessened its stake in shares of CommVault Systems, Inc. (NASDAQ:CVLT) by 29.7% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 269,179 shares of the software maker’s stock after selling 113,513 shares during the quarter. Allianz Asset Management GmbH’s holdings in CommVault Systems were worth $50,816,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised its holdings in shares of CommVault Systems by 2.0% in the 2nd quarter. Geode Capital Management LLC now owns 1,337,403 shares of the software maker’s stock worth $233,172,000 after purchasing an additional 26,207 shares during the period. AQR Capital Management LLC raised its stake in shares of CommVault Systems by 60.8% in the second quarter. AQR Capital Management LLC now owns 893,385 shares of the software maker’s stock valued at $155,744,000 after buying an additional 337,830 shares during the period. Allspring Global Investments Holdings LLC lifted its position in shares of CommVault Systems by 15.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 637,404 shares of the software maker’s stock valued at $118,481,000 after buying an additional 83,906 shares during the last quarter. Congress Asset Management Co. grew its stake in shares of CommVault Systems by 4.6% during the 3rd quarter. Congress Asset Management Co. now owns 596,998 shares of the software maker’s stock worth $112,701,000 after acquiring an additional 26,110 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in CommVault Systems by 2.0% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 569,345 shares of the software maker’s stock worth $99,254,000 after acquiring an additional 11,148 shares during the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on CVLT shares. Wall Street Zen upgraded shares of CommVault Systems from a “hold” rating to a “buy” rating in a research report on Saturday, January 31st. Piper Sandler dropped their price target on shares of CommVault Systems from $186.00 to $155.00 and set an “overweight” rating on the stock in a research note on Monday, January 5th. Royal Bank Of Canada reduced their price objective on shares of CommVault Systems from $167.00 to $100.00 and set a “sector perform” rating for the company in a research note on Wednesday, January 28th. Wells Fargo & Company lowered their target price on shares of CommVault Systems from $190.00 to $155.00 and set an “overweight” rating on the stock in a report on Wednesday, January 28th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $155.00 price target (down from $175.00) on shares of CommVault Systems in a report on Wednesday, January 28th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $143.58.

CommVault Systems Price Performance

Shares of NASDAQ CVLT opened at $81.97 on Thursday. The stock’s 50-day simple moving average is $118.86 and its two-hundred day simple moving average is $151.04. CommVault Systems, Inc. has a twelve month low of $79.51 and a twelve month high of $200.68. The firm has a market capitalization of $3.60 billion, a P/E ratio of 42.25 and a beta of 0.59. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 4.06.

CommVault Systems (NASDAQ:CVLT) last issued its quarterly earnings data on Tuesday, January 27th. The software maker reported $1.17 EPS for the quarter, topping the consensus estimate of $0.98 by $0.19. The company had revenue of $313.83 million during the quarter, compared to analyst estimates of $299.07 million. CommVault Systems had a return on equity of 37.38% and a net margin of 7.58%.CommVault Systems’s revenue was up 19.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.94 earnings per share. As a group, equities analysts anticipate that CommVault Systems, Inc. will post 1.65 EPS for the current fiscal year.

Insider Transactions at CommVault Systems

In other news, CFO Jennifer Leigh Dirico sold 830 shares of the firm’s stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $123.58, for a total transaction of $102,571.40. Following the sale, the chief financial officer owned 44,313 shares in the company, valued at approximately $5,476,200.54. This trade represents a 1.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Sanjay Mirchandani sold 14,653 shares of CommVault Systems stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $123.65, for a total transaction of $1,811,843.45. Following the sale, the chief executive officer directly owned 372,369 shares of the company’s stock, valued at $46,043,426.85. This represents a 3.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 33,111 shares of company stock valued at $4,058,851 in the last quarter. Insiders own 1.00% of the company’s stock.

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.