CommVault Systems, Inc. $CVLT Shares Sold by TD Asset Management Inc

TD Asset Management Inc reduced its holdings in shares of CommVault Systems, Inc. (NASDAQ:CVLT) by 71.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,700 shares of the software maker’s stock after selling 6,900 shares during the quarter. TD Asset Management Inc’s holdings in CommVault Systems were worth $510,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in CVLT. State of Wyoming acquired a new stake in CommVault Systems in the second quarter valued at $35,000. Cullen Frost Bankers Inc. boosted its stake in CommVault Systems by 43.8% during the 3rd quarter. Cullen Frost Bankers Inc. now owns 243 shares of the software maker’s stock valued at $46,000 after acquiring an additional 74 shares during the last quarter. Assetmark Inc. grew its holdings in CommVault Systems by 2,950.0% during the 3rd quarter. Assetmark Inc. now owns 244 shares of the software maker’s stock worth $46,000 after acquiring an additional 236 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in 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 acquiring an additional 177 shares in the last quarter. Finally, Hantz Financial Services Inc. increased its position in shares of CommVault Systems by 84.9% in the 3rd quarter. Hantz Financial Services Inc. now owns 257 shares of the software maker’s stock worth $49,000 after purchasing an additional 118 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Insider Activity at CommVault Systems

In other news, CEO Sanjay Mirchandani sold 6,480 shares of the company’s stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $90.28, for a total transaction of $585,014.40. Following the completion of the transaction, the chief executive officer directly owned 352,919 shares of the company’s stock, valued at approximately $31,861,527.32. This represents a 1.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Gary Merrill sold 2,593 shares of the stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $90.28, for a total value of $234,096.04. Following the sale, the insider owned 64,725 shares in the company, valued at $5,843,373. The trade was a 3.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 10,965 shares of company stock valued at $991,812 over the last ninety days. Corporate insiders own 1.00% of the company’s stock.

CommVault Systems Trading Down 1.1%

NASDAQ CVLT opened at $87.04 on Friday. The company has a debt-to-equity ratio of 4.06, a quick ratio of 2.34 and a current ratio of 2.34. CommVault Systems, Inc. has a one year low of $79.51 and a one year high of $200.68. The company has a 50-day simple moving average of $102.91 and a 200-day simple moving average of $137.03. The firm has a market capitalization of $3.83 billion, a PE ratio of 44.87 and a beta of 0.59.

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

Analyst Ratings Changes

A number of brokerages have recently issued reports on CVLT. Guggenheim cut their target price on shares of CommVault Systems from $200.00 to $175.00 and set a “buy” rating on the stock in a research note on Wednesday, January 28th. DA Davidson decreased their price target on CommVault Systems from $185.00 to $135.00 and set a “buy” rating for the company in a research note on Wednesday, January 28th. Wall Street Zen raised CommVault Systems from a “hold” rating to a “buy” rating in a report on Saturday, January 31st. KeyCorp cut their price objective on CommVault Systems from $152.00 to $108.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 28th. Finally, Royal Bank Of Canada reduced their target price on CommVault Systems from $167.00 to $100.00 and set a “sector perform” rating on the stock in a report on Wednesday, January 28th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $143.58.

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.