3,844 Shares in CommVault Systems, Inc. $CVLT Acquired by NewEdge Wealth LLC

NewEdge Wealth LLC purchased a new stake in CommVault Systems, Inc. (NASDAQ:CVLT) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,844 shares of the software maker’s stock, valued at approximately $545,000.

Several other hedge funds have also added to or reduced their stakes in CVLT. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of CommVault Systems in the second quarter valued at $27,000. State of Wyoming acquired a new stake in shares of CommVault Systems during the 2nd quarter worth about $35,000. Essential Partners LLC lifted its stake in shares of CommVault Systems by 9,920.0% during the 1st quarter. Essential Partners LLC now owns 501 shares of the software maker’s stock worth $39,000 after buying an additional 496 shares during the last quarter. Banque Cantonale Vaudoise acquired a new stake in shares of CommVault Systems during the 3rd quarter worth about $39,000. Finally, Assetmark Inc. boosted its holdings in shares of CommVault Systems by 33.6% during 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. Institutional investors and hedge funds own 93.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on CVLT shares. DA Davidson set a $175.00 price target on shares of CommVault Systems in a research note on Wednesday, July 29th. KeyCorp boosted their price objective on CommVault Systems from $125.00 to $175.00 and gave the stock an “overweight” rating in a report on Thursday, July 16th. Weiss Ratings raised CommVault Systems from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, June 16th. Mizuho increased their target price on CommVault Systems from $140.00 to $175.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 15th. Finally, Stephens increased their target price on CommVault Systems from $135.00 to $155.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 16th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $152.47.

Insider Buying and Selling

In related news, CAO Danielle Nicole Abrahamsen sold 486 shares of the stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $142.80, for a total transaction of $69,400.80. Following the sale, the chief accounting officer owned 12,160 shares in the company, valued at approximately $1,736,448. This trade represents a 3.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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, Director Vivie Lee sold 595 shares of CommVault Systems stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $134.19, for a total transaction of $79,843.05. Following the completion of the transaction, the director directly owned 15,140 shares in the company, valued at $2,031,636.60. This trade represents a 3.78% 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. In the last ninety days, insiders sold 34,433 shares of company stock worth $4,756,008. 0.86% of the stock is owned by company insiders.

CommVault Systems Stock Performance

NASDAQ:CVLT opened at $133.81 on Friday. The company has a market cap of $5.55 billion, a price-to-earnings ratio of 85.23 and a beta of 0.81. CommVault Systems, Inc. has a fifty-two week low of $71.75 and a fifty-two week high of $198.18. The company has a debt-to-equity ratio of 16.94, a quick ratio of 2.04 and a current ratio of 2.04. The stock has a fifty day moving average price of $138.61 and a 200-day moving average price of $109.49.

CommVault Systems (NASDAQ:CVLT) last posted its quarterly earnings results on Tuesday, July 28th. The software maker reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.16 by $0.26. The business had revenue of $314.13 million during the quarter, compared to the consensus estimate 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 quarter in the previous year, the firm earned $1.01 earnings per share. As a group, equities analysts anticipate that CommVault Systems, Inc. will post 2.84 EPS for the current fiscal 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.