Royal Bank of Canada Has $14.95 Million Stock Position in CommVault Systems, Inc. $CVLT

Royal Bank of Canada lowered its holdings in shares of CommVault Systems, Inc. (NASDAQ:CVLT) by 22.2% in the 1st quarter, Holdings Channel.com reports. The fund owned 191,952 shares of the software maker’s stock after selling 54,695 shares during the period. Royal Bank of Canada’s holdings in CommVault Systems were worth $14,950,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of CVLT. American Capital Management Inc. grew its stake in shares of CommVault Systems by 1.3% in the first quarter. American Capital Management Inc. now owns 540,845 shares of the software maker’s stock worth $42,126,000 after purchasing an additional 7,039 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in CommVault Systems by 19.3% during the 1st quarter. The Manufacturers Life Insurance Company now owns 456,457 shares of the software maker’s stock worth $35,553,000 after buying an additional 74,004 shares during the period. Quantinno Capital Management LP lifted its holdings in CommVault Systems by 100.5% during the 1st quarter. Quantinno Capital Management LP now owns 80,922 shares of the software maker’s stock worth $6,303,000 after buying an additional 40,554 shares during the period. SummitTX Capital L.P. bought a new stake in shares of CommVault Systems in the 1st quarter valued at about $476,000. Finally, Lazard Asset Management LLC increased its stake in shares of CommVault Systems by 59.2% in the first quarter. Lazard Asset Management LLC now owns 50,983 shares of the software maker’s stock valued at $3,971,000 after buying an additional 18,950 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

Insider Activity

In related news, CEO Sanjay Mirchandani sold 19,396 shares of CommVault Systems stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $105.49, for a total value of $2,046,084.04. Following the completion of the sale, the chief executive officer owned 315,377 shares of the company’s stock, valued at approximately $33,269,119.73. This trade represents a 5.79% decrease in their position. The transaction was disclosed in a document filed 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 1,065 shares of CommVault Systems stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $105.84, for a total transaction of $112,719.60. Following the transaction, the chief accounting officer owned 13,581 shares of the company’s stock, valued at $1,437,413.04. This represents a 7.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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 90 days, insiders have sold 55,279 shares of company stock worth $5,786,557. Company insiders own 0.86% of the company’s stock.

CommVault Systems Stock Performance

Shares of CVLT stock opened at $135.27 on Friday. The firm has a 50 day moving average of $135.03 and a 200-day moving average of $107.24. The company has a market cap of $5.61 billion, a price-to-earnings ratio of 86.16 and a beta of 0.81. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 16.94. CommVault Systems, Inc. has a 52 week low of $71.75 and a 52 week high of $198.18.

CommVault Systems (NASDAQ:CVLT) last released its earnings results on Tuesday, July 28th. The software maker reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.16 by $0.26. The company had revenue of $314.13 million for the quarter, compared to the consensus estimate of $310.43 million. CommVault Systems had a net margin of 5.62% and a return on equity of 88.75%. CommVault Systems’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.01 EPS. On average, equities analysts forecast that CommVault Systems, Inc. will post 2.84 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Robert W. Baird cut their price objective on CommVault Systems from $185.00 to $160.00 and set an “outperform” rating on the stock in a research note on Monday, April 13th. DA Davidson set a $175.00 target price on shares of CommVault Systems in a research report on Wednesday, July 29th. Scotiabank restated a “sector perform” rating and set a $130.00 price target on shares of CommVault Systems in a report on Wednesday, July 29th. Zacks Research downgraded shares of CommVault Systems from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 1st. Finally, Royal Bank Of Canada upped their price objective on shares of CommVault Systems from $100.00 to $110.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, CommVault Systems has a consensus rating of “Moderate Buy” and a consensus target price of $152.47.

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.