CommVault Systems, Inc. $CVLT Shares Bought by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. grew its holdings in shares of CommVault Systems, Inc. (NASDAQ:CVLT) by 13.7% during the fourth quarter, Holdings Channel reports. The firm owned 137,544 shares of the software maker’s stock after acquiring an additional 16,605 shares during the quarter. Pinnacle Associates Ltd.’s holdings in CommVault Systems were worth $17,243,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of CommVault Systems by 8.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 147,410 shares of the software maker’s stock worth $23,255,000 after acquiring an additional 11,700 shares during the last quarter. Sivia Capital Partners LLC bought a new position in shares of CommVault Systems during the second quarter worth about $327,000. Cetera Investment Advisers grew its position in shares of CommVault Systems by 13.4% during the second quarter. Cetera Investment Advisers now owns 2,486 shares of the software maker’s stock worth $433,000 after acquiring an additional 294 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in shares of CommVault Systems by 188.3% during the second quarter. EverSource Wealth Advisors LLC now owns 271 shares of the software maker’s stock worth $47,000 after acquiring an additional 177 shares during the last quarter. Finally, Guggenheim Capital LLC grew its position in shares of CommVault Systems by 43.8% during the second quarter. Guggenheim Capital LLC now owns 4,245 shares of the software maker’s stock worth $740,000 after acquiring an additional 1,293 shares during the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

CommVault Systems Stock Performance

NASDAQ:CVLT opened at $99.81 on Thursday. CommVault Systems, Inc. has a twelve month low of $71.75 and a twelve month high of $200.68. The company has a current ratio of 1.95, a quick ratio of 2.34 and a debt-to-equity ratio of 117.54. The company has a 50-day moving average of $87.74 and a 200-day moving average of $106.21. The firm has a market cap of $4.12 billion, a price-to-earnings ratio of 62.77 and a beta of 0.77.

CommVault Systems (NASDAQ:CVLT) last posted its quarterly earnings data on Tuesday, April 28th. The software maker reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.19. CommVault Systems had a net margin of 5.97% and a return on equity of 51.64%. The company had revenue of $311.69 million during the quarter, compared to analyst estimates of $306.71 million. During the same quarter last year, the firm posted $1.03 EPS. The business’s revenue for the quarter was up 13.3% on a year-over-year basis. Analysts forecast that CommVault Systems, Inc. will post 2.86 earnings per share for the current fiscal year.

Insider Transactions at CommVault Systems

In other CommVault Systems news, CEO Sanjay Mirchandani sold 10,052 shares of the company’s stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $80.09, for a total transaction of $805,064.68. Following the completion of the sale, the chief executive officer directly owned 332,529 shares of the company’s stock, valued at approximately $26,632,247.61. This represents a 2.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Gary Merrill sold 1,892 shares of the company’s stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $91.28, for a total transaction of $172,701.76. Following the sale, the insider directly owned 62,833 shares of the company’s stock, valued at $5,735,396.24. This represents a 2.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 31,355 shares of company stock valued at $2,613,165 over the last ninety days. Insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

CVLT has been the subject of several recent research reports. Scotiabank upped their price target on shares of CommVault Systems from $105.00 to $110.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 29th. Royal Bank Of Canada upped their price target on shares of CommVault Systems from $100.00 to $110.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 29th. Loop Capital initiated coverage on shares of CommVault Systems in a research report on Tuesday, March 24th. They set a “buy” rating and a $125.00 price target for the company. KeyCorp upped their price target on shares of CommVault Systems from $108.00 to $125.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 29th. Finally, Jefferies Financial Group initiated coverage on shares of CommVault Systems in a research report on Monday, April 27th. They set a “hold” rating and a $105.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, CommVault Systems currently has a consensus rating of “Moderate Buy” and an average price target of $135.00.

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.