Edgestream Partners L.P. Buys New Position in CommVault Systems, Inc. $CVLT

Edgestream Partners L.P. purchased a new stake in CommVault Systems, Inc. (NASDAQ:CVLT) in the first quarter, HoldingsChannel.com reports. The firm purchased 48,391 shares of the software maker’s stock, valued at approximately $3,769,000.

Several other institutional investors have also added to or reduced their stakes in the business. Amundi grew its stake in shares of CommVault Systems by 30.5% during the first quarter. Amundi now owns 40,401 shares of the software maker’s stock worth $3,147,000 after acquiring an additional 9,454 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of CommVault Systems by 1,810.8% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,242 shares of the software maker’s stock valued at $97,000 after purchasing an additional 1,177 shares during the last quarter. California State Teachers Retirement System raised its position in shares of CommVault Systems by 23.0% in the 1st quarter. California State Teachers Retirement System now owns 51,630 shares of the software maker’s stock valued at $4,021,000 after purchasing an additional 9,663 shares during the last quarter. American Capital Management Inc. boosted its stake in CommVault Systems by 1.3% in the 1st 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 in the last quarter. Finally, The Manufacturers Life Insurance Company grew its position 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 purchasing an additional 74,004 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on CVLT. Cantor Fitzgerald restated a “neutral” rating and set a $132.00 price target on shares of CommVault Systems in a research note on Monday, July 27th. Truist Financial lifted their price objective on shares of CommVault Systems from $155.00 to $182.00 and gave the stock a “buy” rating in a research note on Tuesday, July 21st. Stephens boosted their price objective on shares of CommVault Systems from $135.00 to $155.00 and gave the company an “overweight” rating in a report on Tuesday, June 16th. Oppenheimer upped their target price on CommVault Systems from $150.00 to $175.00 and gave the company an “outperform” rating in a research report on Friday, July 17th. Finally, Guggenheim restated a “buy” rating on shares of CommVault Systems in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, CommVault Systems currently has an average rating of “Moderate Buy” and a consensus target price of $152.47.

CommVault Systems Stock Performance

Shares of CVLT stock opened at $117.80 on Friday. CommVault Systems, Inc. has a 52-week low of $71.75 and a 52-week high of $198.18. The company has a quick ratio of 1.95, a current ratio of 2.04 and a debt-to-equity ratio of 16.94. The stock has a market cap of $4.88 billion, a PE ratio of 75.03 and a beta of 0.79. The business has a 50-day simple moving average of $132.89 and a 200-day simple moving average of $107.00.

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

Insider Transactions at CommVault Systems

In related news, CAO Danielle Nicole Abrahamsen sold 254 shares of the business’s stock in a transaction on Thursday, July 2nd. The shares were 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 directly owned 13,156 shares in the company, valued at $1,973,400. The trade was a 1.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, 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 stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $99.13, for a total transaction of $837,648.50. Following the sale, the chief executive officer directly owned 306,927 shares in the company, valued at $30,425,673.51. This trade represents a 2.68% 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. Insiders have sold 55,279 shares of company stock valued at $5,786,557 in the last 90 days. 0.86% of the stock is currently owned by company insiders.

CommVault Systems Company 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.