CommVault Systems, Inc. $CVLT Shares Acquired by Tidal Investments LLC

Tidal Investments LLC boosted its position in CommVault Systems, Inc. (NASDAQ:CVLT) by 38.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,661 shares of the software maker’s stock after purchasing an additional 16,523 shares during the period. Tidal Investments LLC owned about 0.14% of CommVault Systems worth $8,456,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CVLT. Integrated Wealth Concepts LLC purchased a new stake in CommVault Systems during the second quarter worth $371,000. NewEdge Advisors LLC acquired a new stake in CommVault Systems in the second quarter valued at $215,000. Allworth Financial LP increased its position in shares of CommVault Systems by 190.6% in the second quarter. Allworth Financial LP now owns 2,095 shares of the software maker’s stock valued at $297,000 after buying an additional 1,374 shares in the last quarter. Waverly Advisors LLC purchased a new position in shares of CommVault Systems in the second quarter valued at $318,000. Finally, Nykredit A S purchased a new position in shares of CommVault Systems in the second quarter valued at $285,000. 93.50% of the stock is owned by institutional investors and hedge funds.

Insider Activity at CommVault Systems

In other news, CEO Sanjay Mirchandani sold 6,857 shares of CommVault Systems stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $142.80, for a total transaction of $979,179.60. Following the completion of the sale, the chief executive officer directly owned 257,676 shares in the company, valued at $36,796,132.80. The trade was a 2.59% decrease in their ownership of the stock. 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 A. Shane Sanders sold 476 shares of the business’s 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 $63,874.44. Following the completion of the transaction, the director directly owned 8,696 shares of the company’s stock, valued at approximately $1,166,916.24. This represents a 5.19% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 29,602 shares of company stock worth $4,240,541 over the last three months. Company insiders own 0.86% of the company’s stock.

CommVault Systems Stock Down 1.1%

Shares of NASDAQ:CVLT opened at $130.07 on Friday. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 16.94. The company has a market capitalization of $5.39 billion, a P/E ratio of 82.85 and a beta of 0.82. CommVault Systems, Inc. has a 52-week low of $71.75 and a 52-week high of $198.18. The stock’s fifty day simple moving average is $138.21 and its 200-day simple moving average is $114.39.

CommVault Systems (NASDAQ:CVLT) last posted its quarterly earnings data on Tuesday, July 28th. The software maker reported $1.42 EPS 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 firm had revenue of $314.13 million during the quarter, compared to analysts’ expectations of $310.43 million. During the same quarter last year, the business posted $1.01 EPS. The firm’s quarterly revenue was up 11.4% compared to the same quarter last year. As a group, equities research analysts forecast that CommVault Systems, Inc. will post 2.84 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. FBN Securities assumed coverage on shares of CommVault Systems in a research report on Thursday. They issued an “outperform” rating and a $155.00 price objective on the stock. Oppenheimer raised their target price on shares of CommVault Systems from $150.00 to $175.00 and gave the company an “outperform” rating in a report on Friday, July 17th. Jefferies Financial Group restated a “hold” rating and set a $130.00 target price on shares of CommVault Systems in a research report on Wednesday, July 29th. KeyCorp upped their price target on shares of CommVault Systems from $125.00 to $175.00 and gave the company an “overweight” rating in a report on Thursday, July 16th. Finally, UBS Group reiterated a “neutral” rating on shares of CommVault Systems in a research report on Monday, July 27th. One investment 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 company’s stock. According to data from MarketBeat, CommVault Systems presently has a consensus rating of “Moderate Buy” and a consensus target price of $152.62.

About CommVault Systems

Commvault Systems, Inc develops data protection and cyber resilience software for organizations seeking to secure, manage and recover data across on-premises, cloud and hybrid environments. Its technology is designed to help businesses protect workloads, reduce the risk of data loss and maintain operations following system failures, cyberattacks or other disruptions.

The company’s offerings include backup and recovery, disaster recovery, data security, cyber recovery and cloud data management solutions.