First Trust Advisors LP Sells 542,332 Shares of CommVault Systems, Inc. $CVLT

First Trust Advisors LP trimmed its position in shares of CommVault Systems, Inc. (NASDAQ:CVLT) by 35.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 994,702 shares of the software maker’s stock after selling 542,332 shares during the quarter. First Trust Advisors LP’s holdings in CommVault Systems were worth $77,477,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake 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 valued at $23,255,000 after purchasing an additional 11,700 shares during the period. Sivia Capital Partners LLC bought a new position in shares of CommVault Systems in the 2nd quarter worth $327,000. Cetera Investment Advisers grew its position in shares of CommVault Systems by 13.4% in the 2nd quarter. Cetera Investment Advisers now owns 2,486 shares of the software maker’s stock worth $433,000 after buying an additional 294 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in CommVault Systems by 188.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 271 shares of the software maker’s stock worth $47,000 after buying an additional 177 shares during the last quarter. Finally, Guggenheim Capital LLC raised its stake in CommVault Systems by 43.8% in the second quarter. Guggenheim Capital LLC now owns 4,245 shares of the software maker’s stock valued at $740,000 after buying an additional 1,293 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CVLT. Oppenheimer raised their target price on CommVault Systems from $150.00 to $175.00 and gave the stock an “outperform” rating in a research note on Friday, July 17th. Scotiabank increased their price target on CommVault Systems from $105.00 to $110.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 29th. Mizuho raised their target price on CommVault Systems from $140.00 to $175.00 and gave the company an “outperform” rating in a research report on Wednesday, July 15th. Truist Financial upped their price target on shares of CommVault Systems from $155.00 to $182.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Royal Bank Of Canada raised their price objective on CommVault Systems from $100.00 to $110.00 and gave the company a “sector perform” rating in a report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, CommVault Systems has a consensus rating of “Moderate Buy” and an average target price of $145.47.

Insider Activity

In other news, CFO Gary Merrill sold 4,560 shares of the stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $105.10, for a total value of $479,256.00. Following the completion of the sale, the chief financial officer directly owned 72,507 shares of the company’s stock, valued at approximately $7,620,485.70. This represents a 5.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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, CEO Sanjay Mirchandani sold 19,396 shares of the firm’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $105.49, for a total transaction of $2,046,084.04. Following the transaction, the chief executive officer directly owned 315,377 shares in the company, valued at $33,269,119.73. The trade was a 5.79% 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. In the last 90 days, insiders have sold 55,279 shares of company stock worth $5,786,557. 0.86% of the stock is currently owned by insiders.

CommVault Systems Trading Up 0.8%

CVLT opened at $142.31 on Friday. CommVault Systems, Inc. has a 52 week low of $71.75 and a 52 week high of $200.68. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 117.54. The business has a fifty day simple moving average of $130.92 and a 200-day simple moving average of $107.03. The firm has a market cap of $5.89 billion, a P/E ratio of 89.50 and a beta of 0.79.

CommVault Systems (NASDAQ:CVLT) last announced its quarterly earnings data on Tuesday, April 28th. The software maker reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.19. The firm had revenue of $311.69 million during the quarter, compared to analysts’ expectations of $306.71 million. CommVault Systems had a net margin of 5.97% and a return on equity of 51.64%. The business’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.03 earnings per share. On average, equities analysts expect that CommVault Systems, Inc. will post 2.88 earnings per share for the current year.

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.