Handelsbanken Fonder AB Raises Stock Holdings in CommVault Systems, Inc. $CVLT

Handelsbanken Fonder AB boosted its position in shares of CommVault Systems, Inc. (NASDAQ:CVLT) by 24.1% in the second quarter, HoldingsChannel.com reports. The fund owned 18,530 shares of the software maker’s stock after acquiring an additional 3,600 shares during the quarter. Handelsbanken Fonder AB’s holdings in CommVault Systems were worth $2,626,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of the company. Versant Capital Management Inc raised its stake in shares of CommVault Systems by 15.8% in the second quarter. Versant Capital Management Inc now owns 595 shares of the software maker’s stock worth $84,000 after purchasing an additional 81 shares during the last quarter. Assetmark Inc. increased its holdings in CommVault Systems by 33.6% in the 4th quarter. Assetmark Inc. now owns 326 shares of the software maker’s stock worth $41,000 after buying an additional 82 shares during the period. Captrust Financial Advisors raised its position in CommVault Systems by 7.2% during the 4th quarter. Captrust Financial Advisors now owns 2,153 shares of the software maker’s stock worth $270,000 after buying an additional 145 shares during the last quarter. MML Investors Services LLC lifted its stake in CommVault Systems by 6.7% during the 4th quarter. MML Investors Services LLC now owns 2,361 shares of the software maker’s stock valued at $296,000 after acquiring an additional 149 shares during the period. Finally, Madison Asset Management LLC boosted its holdings in shares of CommVault Systems by 0.6% in the 4th quarter. Madison Asset Management LLC now owns 23,947 shares of the software maker’s stock valued at $3,002,000 after acquiring an additional 153 shares during the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Scotiabank reissued a “sector perform” rating and set a $130.00 target price on shares of CommVault Systems in a report on Wednesday, July 29th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $132.00 price target on shares of CommVault Systems in a report on Monday, July 27th. Wall Street Zen downgraded CommVault Systems from a “buy” rating to a “hold” rating in a research report on Saturday. Weiss Ratings raised CommVault Systems from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, June 16th. Finally, Piper Sandler downgraded CommVault Systems from an “overweight” rating to a “neutral” rating and set a $133.00 target price on the stock. in a research note on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $152.47.

Insider Buying and Selling at CommVault Systems

In related news, CAO Danielle Nicole Abrahamsen sold 254 shares of CommVault Systems stock in a transaction dated Thursday, July 2nd. The stock was 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Sanjay Mirchandani sold 8,450 shares of the company’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $99.13, for a total value of $837,648.50. Following the completion of the transaction, the chief executive officer directly owned 306,927 shares of the company’s stock, valued at $30,425,673.51. The trade was a 2.68% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 43,870 shares of company stock worth $4,625,634. 0.86% of the stock is currently owned by company insiders.

CommVault Systems Stock Performance

CVLT opened at $147.09 on Monday. The company has a debt-to-equity ratio of 16.94, a current ratio of 2.04 and a quick ratio of 2.04. The firm has a fifty day moving average price of $137.29 and a 200 day moving average price of $107.88. CommVault Systems, Inc. has a 1 year low of $71.75 and a 1 year high of $198.18. The stock has a market cap of $6.10 billion, a P/E ratio of 93.69 and a beta of 0.81.

CommVault Systems (NASDAQ:CVLT) last announced its quarterly earnings results on Tuesday, July 28th. The software maker reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.16 by $0.26. The firm 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%. The firm’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.01 earnings per share. Equities research analysts anticipate that CommVault Systems, Inc. will post 2.84 earnings per share for the current year.

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.