CommVault Systems, Inc. $CVLT Position Cut by Vestcor Inc

Vestcor Inc trimmed its position in shares of CommVault Systems, Inc. (NASDAQ:CVLT) by 59.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,472 shares of the software maker’s stock after selling 26,618 shares during the period. Vestcor Inc’s holdings in CommVault Systems were worth $3,487,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. State of Wyoming acquired a new position in CommVault Systems during the second quarter worth about $35,000. Cullen Frost Bankers Inc. raised its position in CommVault Systems by 43.8% during the third quarter. Cullen Frost Bankers Inc. now owns 243 shares of the software maker’s stock valued at $46,000 after buying an additional 74 shares during the period. Assetmark Inc. increased its holdings in shares of CommVault Systems by 2,950.0% in the 3rd quarter. Assetmark Inc. now owns 244 shares of the software maker’s stock valued at $46,000 after purchasing an additional 236 shares during the period. EverSource Wealth Advisors LLC increased its stake in CommVault Systems by 188.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 271 shares of the software maker’s stock valued at $47,000 after buying an additional 177 shares during the period. Finally, Hantz Financial Services Inc. raised its holdings in shares of CommVault Systems by 84.9% during the third quarter. Hantz Financial Services Inc. now owns 257 shares of the software maker’s stock worth $49,000 after acquiring an additional 118 shares in the last quarter. Institutional investors own 93.50% of the company’s stock.

Insider Buying and Selling at CommVault Systems

In other CommVault Systems news, insider Gary Merrill sold 2,593 shares of the business’s stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $90.28, for a total value of $234,096.04. Following the completion of the transaction, the insider directly owned 64,725 shares of the company’s stock, valued at approximately $5,843,373. The trade was a 3.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sanjay Mirchandani sold 6,480 shares of the firm’s stock in a transaction 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 sale, the chief executive officer owned 352,919 shares in the company, valued at approximately $31,861,527.32. The trade was a 1.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 10,965 shares of company stock valued at $991,812 in the last three months. 1.00% of the stock is owned by company insiders.

CommVault Systems Trading Down 6.4%

NASDAQ:CVLT opened at $80.37 on Wednesday. The firm has a market capitalization of $3.53 billion, a price-to-earnings ratio of 41.43 and a beta of 0.59. CommVault Systems, Inc. has a 1-year low of $79.51 and a 1-year high of $200.68. The business’s 50-day moving average price is $101.14 and its two-hundred day moving average price is $135.14. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 4.06.

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

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Zacks Research raised shares of CommVault Systems from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 30th. Wells Fargo & Company cut their price target on CommVault Systems from $190.00 to $155.00 and set an “overweight” rating for the company in a report on Wednesday, January 28th. DA Davidson cut their price target on shares of CommVault Systems from $185.00 to $135.00 and set a “buy” rating for the company in a research note on Wednesday, January 28th. Stephens lowered their target price on shares of CommVault Systems from $162.00 to $135.00 and set an “overweight” rating on the stock in a report on Wednesday, January 28th. Finally, Cantor Fitzgerald cut their price objective on CommVault Systems from $144.00 to $100.00 and set a “neutral” rating for the company in a research report on Wednesday, January 28th. Two investment 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 company’s stock. According to data from MarketBeat.com, CommVault Systems presently has a consensus rating of “Moderate Buy” and a consensus target price of $143.58.

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.