Bank of New York Mellon Corp Sells 7,136 Shares of CommVault Systems, Inc. $CVLT

Bank of New York Mellon Corp decreased its stake in CommVault Systems, Inc. (NASDAQ:CVLT) by 2.1% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 331,309 shares of the software maker’s stock after selling 7,136 shares during the quarter. Bank of New York Mellon Corp’s holdings in CommVault Systems were worth $25,806,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. M&T Bank Corp boosted its stake in shares of CommVault Systems by 22,133.9% during the fourth quarter. M&T Bank Corp now owns 610,098 shares of the software maker’s stock valued at $76,482,000 after purchasing an additional 607,354 shares during the period. TD Asset Management Inc lifted its stake in shares of CommVault Systems by 14,047.5% during the 4th quarter. TD Asset Management Inc now owns 381,982 shares of the software maker’s stock worth $47,885,000 after purchasing an additional 379,282 shares during the last quarter. AQR Capital Management LLC grew its position in shares of CommVault Systems by 60.8% in the 2nd quarter. AQR Capital Management LLC now owns 893,385 shares of the software maker’s stock worth $155,744,000 after buying an additional 337,830 shares during the last quarter. Pictet Asset Management Holding SA increased its position in shares of CommVault Systems by 36.2% during the first 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 fourth quarter. First Trust Advisors LP now owns 1,537,034 shares of the software maker’s stock valued at $192,683,000 after buying an additional 312,178 shares during the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on CVLT. DA Davidson reissued a “buy” rating and issued a $125.00 target price on shares of CommVault Systems in a research report on Monday, April 13th. Royal Bank Of Canada upped their price objective on shares of CommVault Systems from $100.00 to $110.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 29th. Wolfe Research assumed coverage on CommVault Systems in a research report on Friday, May 1st. They set a “peer perform” rating on the stock. Scotiabank lifted their price objective on CommVault Systems from $105.00 to $110.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 29th. Finally, Oppenheimer upped their target price on shares of CommVault Systems from $150.00 to $175.00 and gave the stock an “outperform” rating in a report on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $147.60.

CommVault Systems Stock Performance

NASDAQ CVLT opened at $149.46 on Tuesday. CommVault Systems, Inc. has a twelve month low of $71.75 and a twelve month high of $200.68. The stock has a market cap of $6.19 billion, a PE ratio of 94.00 and a beta of 0.79. The stock has a fifty day simple moving average of $131.80 and a 200-day simple moving average of $107.07. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 117.54.

CommVault Systems (NASDAQ:CVLT) last posted its quarterly earnings data on Tuesday, April 28th. The software maker reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.09 by $0.19. The firm had revenue of $311.69 million during the quarter, compared to analysts’ expectations of $306.71 million. CommVault Systems had a net margin of 5.97% and a return on equity of 51.64%. The firm’s quarterly revenue was up 13.3% on a year-over-year basis. During the same quarter last year, the company posted $1.03 EPS. Equities analysts anticipate that CommVault Systems, Inc. will post 2.88 earnings per share for the current year.

Insider Transactions at CommVault Systems

In other news, CFO Gary Merrill sold 4,554 shares of the business’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $106.70, for a total transaction of $485,911.80. Following the completion of the transaction, the chief financial officer directly owned 72,775 shares of the company’s stock, valued at approximately $7,765,092.50. The trade was a 5.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed 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, CAO Danielle Nicole Abrahamsen sold 254 shares of the stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $150.00, for a total value of $38,100.00. Following the completion of the transaction, the chief accounting officer directly owned 13,156 shares in the company, valued at $1,973,400. This trade represents a 1.89% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 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 corporate insiders.

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.