The Manufacturers Life Insurance Company Purchases Shares of 464,016 CommVault Systems, Inc. $CVLT

The Manufacturers Life Insurance Company acquired a new position in CommVault Systems, Inc. (NASDAQ:CVLT) during the second quarter, HoldingsChannel reports. The institutional investor acquired 464,016 shares of the software maker’s stock, valued at approximately $65,765,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CVLT. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in CommVault Systems in the second quarter worth $27,000. Silvant Capital Management LLC bought a new stake in shares of CommVault Systems in the 2nd quarter worth about $30,000. State of Wyoming bought a new stake in shares of CommVault Systems in the 2nd quarter worth about $35,000. Essential Partners LLC raised its position 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 valued at $39,000 after buying an additional 496 shares in the last quarter. Finally, Banque Cantonale Vaudoise purchased a new stake in shares of CommVault Systems during the 3rd quarter valued at about $39,000. 93.50% of the stock is currently owned by institutional investors.

CommVault Systems Stock Performance

Shares of CommVault Systems stock opened at $131.16 on Wednesday. The stock’s fifty day moving average is $138.81 and its two-hundred day moving average is $110.34. The company has a market capitalization of $5.44 billion, a PE ratio of 83.54 and a beta of 0.81. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 16.94. CommVault Systems, Inc. has a 52 week low of $71.75 and a 52 week high of $198.18.

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

Wall Street Analyst Weigh In

Several research analysts recently commented on CVLT shares. Cantor Fitzgerald reiterated a “neutral” rating and issued a $132.00 price target on shares of CommVault Systems in a research report on Monday, July 27th. Weiss Ratings upgraded CommVault Systems from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, June 16th. Stephens lifted their target price on CommVault Systems from $135.00 to $155.00 and gave the stock an “overweight” rating in a report on Tuesday, June 16th. 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 report on Tuesday, July 28th. Finally, Wall Street Zen upgraded CommVault Systems from a “hold” rating to a “buy” rating in a report on Sunday. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $152.47.

Insider Buying and Selling

In related news, CEO Sanjay Mirchandani sold 12,437 shares of CommVault Systems stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $143.98, for a total transaction of $1,790,679.26. Following the completion of the sale, the chief executive officer owned 269,373 shares in the company, valued at $38,784,324.54. This trade represents a 4.41% decrease in their position. The sale was disclosed in a filing with the SEC, which is available 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, Director Vivie Lee sold 595 shares of the business’s stock in a transaction dated 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 sale, the director directly owned 15,140 shares of the company’s stock, valued at approximately $2,031,636.60. This trade represents a 3.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 29,602 shares of company stock worth $4,240,541 over the last ninety days. 0.86% of the stock is owned by 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.