CommVault Systems, Inc. $CVLT Stock Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA reduced its position in shares of CommVault Systems, Inc. (NASDAQ:CVLT) by 38.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 738,123 shares of the software maker’s stock after selling 462,325 shares during the quarter. Pictet Asset Management Holding SA owned 1.80% of CommVault Systems worth $110,581,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Kestra Advisory Services LLC lifted its stake in shares of CommVault Systems by 121.3% in the 3rd quarter. Kestra Advisory Services LLC now owns 13,012 shares of the software maker’s stock worth $1,951,000 after purchasing an additional 7,131 shares during the period. Boston Trust Walden Corp boosted its holdings in shares of CommVault Systems by 114.1% in the third quarter. Boston Trust Walden Corp now owns 561,288 shares of the software maker’s stock worth $84,148,000 after buying an additional 299,141 shares during the last quarter. Greenleaf Trust purchased a new position in shares of CommVault Systems in the third quarter worth approximately $204,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of CommVault Systems in the third quarter worth approximately $2,621,000. Finally, Vise Technologies Inc. grew its position in CommVault Systems by 1.8% during the third quarter. Vise Technologies Inc. now owns 3,562 shares of the software maker’s stock valued at $534,000 after buying an additional 64 shares during the period. 93.50% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CVLT has been the subject of a number of research reports. Guggenheim upped their target price on shares of CommVault Systems from $175.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, October 28th. UBS Group reiterated a “neutral” rating on shares of CommVault Systems in a research report on Monday, July 27th. Scotiabank lifted their price target on shares of CommVault Systems from $160.00 to $180.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 28th. Mizuho boosted their price objective on shares of CommVault Systems from $175.00 to $185.00 and gave the company an “outperform” rating in a research report on Thursday, October 15th. Finally, DA Davidson boosted their price objective on shares of CommVault Systems from $185.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday, October 28th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $174.00.

CommVault Systems Price Performance

NASDAQ CVLT opened at $158.36 on Monday. The stock’s 50-day moving average price is $150.61 and its 200-day moving average price is $120.09. The company has a quick ratio of 1.94, a current ratio of 1.94 and a debt-to-equity ratio of 70.45. CommVault Systems, Inc. has a 52 week low of $71.75 and a 52 week high of $174.25. The company has a market capitalization of $6.48 billion, a P/E ratio of 82.05 and a beta of 0.90.

CommVault Systems (NASDAQ:CVLT) last posted its quarterly earnings data on Tuesday, October 27th. The software maker reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.13. The firm had revenue of $312.39 million for the quarter, compared to analysts’ expectations of $310.41 million. CommVault Systems had a return on equity of 169.40% and a net margin of 6.60%. The business’s quarterly revenue was up 13.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.91 EPS. On average, equities research analysts predict that CommVault Systems, Inc. will post 2.98 earnings per share for the current year.

Insiders Place Their Bets

In other CommVault Systems news, CEO Sanjay Mirchandani sold 6,857 shares of the firm’s 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 $979,179.60. Following the sale, the chief executive officer owned 257,676 shares in the company, valued at approximately $36,796,132.80. This trade represents a 2.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 Abrahamsen sold 486 shares of CommVault Systems 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 transaction, the chief accounting officer directly owned 12,160 shares in the company, valued at $1,736,448. This represents a 3.84% 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. In the last 90 days, insiders have sold 28,277 shares of company stock worth $4,058,723. Company insiders own 0.86% of the company’s stock.

About CommVault Systems

Commvault Systems, which operates as Commvault, develops data protection and cyber resilience software for businesses and other organizations. Its offerings help customers back up, recover, manage and secure data across on-premises systems, public clouds and hybrid environments.

The company’s Commvault Cloud platform and related services support data recovery, cyberattack readiness and data management. Its tools are designed to help organizations protect information across different workloads and storage environments.

Commvault serves customers internationally across a range of industries.