CommVault Systems, Inc. $CVLT Holdings Cut by Allworth Financial LP

Allworth Financial LP decreased its stake in CommVault Systems, Inc. (NASDAQ:CVLT) by 97.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 354 shares of the software maker’s stock after selling 11,302 shares during the quarter. Allworth Financial LP’s holdings in CommVault Systems were worth $44,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of CommVault Systems by 8.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 147,410 shares of the software maker’s stock worth $23,255,000 after purchasing an additional 11,700 shares during the last quarter. Sivia Capital Partners LLC acquired a new position in shares of CommVault Systems during the 2nd quarter worth $327,000. Cetera Investment Advisers increased its stake in shares of CommVault Systems by 13.4% during the 2nd quarter. Cetera Investment Advisers now owns 2,486 shares of the software maker’s stock worth $433,000 after purchasing an additional 294 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of CommVault Systems by 188.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 271 shares of the software maker’s stock worth $47,000 after purchasing an additional 177 shares during the last quarter. Finally, Guggenheim Capital LLC increased its stake in shares of CommVault Systems by 43.8% during the 2nd quarter. Guggenheim Capital LLC now owns 4,245 shares of the software maker’s stock worth $740,000 after purchasing an additional 1,293 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

CommVault Systems News Roundup

Here are the key news stories impacting CommVault Systems this week:

• Positive Sentiment: Commvault is scheduled to present at the William Blair Growth Conference on June 2, which may help reinforce its growth story and keep investor attention on the business. Commvault to Present at the William Blair Growth Conference
• Neutral Sentiment: Chief Financial Officer Gary Merrill and Chief Accounting Officer Danielle Nicole Abrahamsen disclosed small share sales under pre-arranged 10b5-1 plans tied to tax withholding on equity awards, which is routine and not usually viewed as a major negative signal.
• Negative Sentiment: Several law firms publicly promoted class-action claims against Commvault, reinforcing the market’s focus on the pending securities-fraud case and the earlier sharp selloff tied to weaker-than-expected ARR growth. CVLT Shareholder Alert: Investors With Losses May Seek to Lead the Class Action in Commvault Systems, Inc. Securities Lawsuit

CommVault Systems Trading Down 0.8%

CVLT opened at $107.24 on Thursday. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 117.54. The stock has a market capitalization of $4.42 billion, a PE ratio of 67.45 and a beta of 0.77. CommVault Systems, Inc. has a 1-year low of $71.75 and a 1-year high of $200.68. The firm has a 50-day moving average price of $92.09 and a two-hundred day moving average price of $103.52.

CommVault Systems (NASDAQ:CVLT) last issued its quarterly earnings results on Tuesday, April 28th. The software maker reported $1.28 EPS for the quarter, topping the consensus estimate of $1.09 by $0.19. CommVault Systems had a net margin of 5.97% and a return on equity of 51.64%. The company had revenue of $311.69 million during the quarter, compared to analysts’ expectations of $306.71 million. During the same quarter in the previous year, the company earned $1.03 EPS. CommVault Systems’s revenue was up 13.3% on a year-over-year basis. As a group, equities analysts anticipate that CommVault Systems, Inc. will post 2.86 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Scotiabank lifted their target price on shares of CommVault Systems from $105.00 to $110.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 29th. Mizuho decreased their price target on shares of CommVault Systems from $180.00 to $140.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 28th. Jefferies Financial Group began coverage on shares of CommVault Systems in a research report on Monday, April 27th. They issued a “hold” rating and a $105.00 price target on the stock. Robert W. Baird decreased their price target on shares of CommVault Systems from $185.00 to $160.00 and set an “outperform” rating on the stock in a research report on Monday, April 13th. Finally, DA Davidson restated a “buy” rating and issued a $125.00 price target on shares of CommVault Systems in a research report on Monday, April 13th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $135.00.

Insider Buying and Selling at CommVault Systems

In other CommVault Systems news, CFO Gary Merrill sold 4,560 shares of CommVault Systems stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $105.10, for a total value of $479,256.00. Following the transaction, the chief financial officer owned 72,507 shares of the company’s stock, valued at approximately $7,620,485.70. The trade was a 5.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 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, CEO Sanjay Mirchandani sold 19,396 shares of CommVault Systems stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $105.49, for a total transaction of $2,046,084.04. Following the completion of the transaction, the chief executive officer directly owned 315,377 shares in the company, valued at approximately $33,269,119.73. The trade was a 5.79% 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 75,415 shares of company stock valued at $7,369,811. 1.00% of the stock is currently owned by corporate insiders.

CommVault Systems Company 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.