Fifth Third Bancorp Boosts Stock Position in CommVault Systems, Inc. $CVLT

Fifth Third Bancorp boosted its position in shares of CommVault Systems, Inc. (NASDAQ:CVLT) by 4,865.2% during the first quarter, Holdings Channel reports. The firm owned 21,102 shares of the software maker’s stock after buying an additional 20,677 shares during the quarter. Fifth Third Bancorp’s holdings in CommVault Systems were worth $1,644,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of CVLT. Vanguard Group Inc. lifted its stake in shares of CommVault Systems by 4.4% in the fourth quarter. Vanguard Group Inc. now owns 5,675,590 shares of the software maker’s stock worth $711,492,000 after acquiring an additional 240,093 shares in the last quarter. First Trust Advisors LP boosted its holdings in shares of CommVault Systems by 25.5% in the 4th 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 period. Pictet Asset Management Holding SA raised its position in shares of CommVault Systems by 36.2% during the 1st 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 during the period. Westfield Capital Management Co. LP lifted its stake in CommVault Systems by 34.5% in the fourth quarter. Westfield Capital Management Co. LP now owns 1,057,077 shares of the software maker’s stock valued at $132,515,000 after buying an additional 270,902 shares during the last quarter. Finally, AQR Capital Management LLC boosted its stake in CommVault Systems by 60.8% during the 2nd quarter. AQR Capital Management LLC now owns 893,385 shares of the software maker’s stock valued at $155,744,000 after purchasing an additional 337,830 shares during the period. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Insider Buying and Selling at CommVault Systems

In related news, CFO Gary Merrill sold 4,554 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $106.70, for a total value of $485,911.80. Following the completion of the transaction, the chief financial officer owned 72,775 shares in the company, valued at $7,765,092.50. The trade was a 5.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at 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 owned 13,156 shares in the company, valued at $1,973,400. The trade was a 1.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 55,279 shares of company stock worth $5,786,557. 0.86% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

CVLT has been the subject of several recent analyst reports. Zacks Research cut CommVault Systems from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. Truist Financial upped their price target on CommVault Systems from $155.00 to $182.00 and gave the company a “buy” rating in a report on Tuesday. Stephens upped their price objective on shares of CommVault Systems from $135.00 to $155.00 and gave the company an “overweight” rating in a research note on Tuesday, June 16th. KeyCorp raised their target price on CommVault Systems from $125.00 to $175.00 and gave the stock an “overweight” rating in a research report on Thursday, July 16th. Finally, Robert W. Baird lowered their price objective 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. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, CommVault Systems has an average rating of “Moderate Buy” and a consensus target price of $145.47.

CommVault Systems Price Performance

NASDAQ:CVLT opened at $141.14 on Friday. The company has a debt-to-equity ratio of 117.54, a current ratio of 1.95 and a quick ratio of 1.95. CommVault Systems, Inc. has a one year low of $71.75 and a one year high of $200.68. The company has a fifty day moving average price of $130.16 and a 200 day moving average price of $106.78. The stock has a market cap of $5.85 billion, a P/E ratio of 88.77 and a beta of 0.79.

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

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.