29,664 Shares in CommVault Systems, Inc. $CVLT Purchased by Paralel Advisors LLC

Key Points

• Paralel Advisors LLC acquired 29,664 CommVault Systems shares worth approximately $4.2 million, while other institutional investors also initiated positions. Institutions collectively own 93.5% of CVLT.
• CommVault reported strong quarterly results, with EPS of $1.42 beating estimates by $0.26 and revenue of $314.1 million rising 11.4% year over year.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $152.47. Shares recently opened at $131.63, while executives sold shares under pre-arranged plans to cover tax obligations.

Paralel Advisors LLC acquired a new position in CommVault Systems, Inc. (NASDAQ:CVLT - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 29,664 shares of the software maker's stock, valued at approximately $4,204,000. CommVault Systems comprises about 0.2% of Paralel Advisors LLC's investment portfolio, making the stock its 26th largest holding. Paralel Advisors LLC owned approximately 0.07% of CommVault Systems as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Allworth Financial LP purchased a new position in CommVault Systems in the second quarter worth $297,000. Virtus Advisers LLC purchased a new stake in shares of CommVault Systems during the 2nd quarter valued at $959,000. Silvant Capital Management LLC acquired a new stake in shares of CommVault Systems in the 2nd quarter worth $30,000. Vise Technologies Inc. acquired a new stake in shares of CommVault Systems in the 2nd quarter worth $496,000. Finally, OVERSEA CHINESE BANKING Corp Ltd purchased a new position in CommVault Systems during the 2nd quarter worth $369,000. Hedge funds and other institutional investors own 93.50% of the company's stock.

Insider Transactions at CommVault Systems

In related news, CEO Sanjay Mirchandani sold 6,857 shares of the business's stock in a transaction 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 completion of the transaction, 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 transaction was disclosed in a document filed with the SEC, which is available at 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, CAO Danielle Nicole Abrahamsen sold 486 shares of the company's stock in a transaction 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 completion of the sale, the chief accounting officer directly owned 12,160 shares in the company, valued at approximately $1,736,448. The trade was a 3.84% 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. Over the last three months, insiders have sold 34,433 shares of company stock valued at $4,756,008. 0.86% of the stock is owned by corporate insiders.

CommVault Systems Price Performance

Shares of NASDAQ CVLT opened at $131.63 on Friday. The business's 50 day moving average price is $138.49 and its 200 day moving average price is $109.32. The firm has a market cap of $5.45 billion, a P/E ratio of 83.84 and a beta of 0.81. CommVault Systems, Inc. has a 52 week low of $71.75 and a 52 week high of $198.18. 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 (NASDAQ:CVLT - Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The software maker reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.26. CommVault Systems had a net margin of 5.62% and a return on equity of 88.75%. The company had revenue of $314.13 million for the quarter, compared to the consensus estimate of $310.43 million. During the same quarter in the prior year, the company earned $1.01 EPS. CommVault Systems's quarterly revenue was up 11.4% on a year-over-year basis. On average, sell-side analysts expect that CommVault Systems, Inc. will post 2.84 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Guggenheim reiterated a "buy" rating on shares of CommVault Systems in a research note on Tuesday, July 28th. UBS Group restated a "neutral" rating on shares of CommVault Systems in a research note on Monday, July 27th. Wolfe Research began coverage on shares of CommVault Systems in a report on Friday, May 1st. They set a "peer perform" rating on the stock. KeyCorp increased their price objective on shares of CommVault Systems from $125.00 to $175.00 and gave the company an "overweight" rating in a research report on Thursday, July 16th. Finally, Zacks Research cut shares of CommVault Systems from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $152.47.

More CommVault Systems News

Here are the key news stories impacting CommVault Systems this week:

• Positive Sentiment: Analysts maintain a consensus “Moderate Buy” rating, with an average price target of approximately $152.47. Recent targets include $155 from Stephens and $182 from Truist, although Piper Sandler downgraded the stock to neutral with a $133 target. CommVault Systems Given Consensus Rating of Moderate Buy by Analysts
• Positive Sentiment: Commvault’s latest quarterly results remain a supportive backdrop: earnings of $1.42 per share exceeded estimates by $0.26, revenue reached $314.13 million, and sales increased 11.4% year over year. CommVault Systems financial and analyst information
• Neutral Sentiment: CEO Sanjay Mirchandani sold 24,134 shares worth roughly $3.47 million from August 17–19. CFO Gary Merrill sold 3,147 shares worth about $451,000, while Chief Accounting Officer Danielle Abrahamsen sold 996 shares worth approximately $143,000. All reported sales were tied to tax withholding and left the executives with substantial remaining holdings. CommVault Systems insider buying and selling
• Negative Sentiment: The concentration of insider selling may create short-term supply and sentiment pressure, particularly with CVLT trading below its 50-day moving average and at a high valuation of more than 80 times earnings. Nevertheless, the planned, tax-related nature of the sales reduces the bearish significance.

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.

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