Allspring Global Investments Holdings LLC Decreases Position in CommVault Systems, Inc. $CVLT

Key Points

• Allspring Global Investments Holdings LLC reduced its stake in CommVault Systems by 14.5% during Q2, now owning approximately 1.24% of the company, worth $95.4 million.
• Insider trading was observed as Director Allison Pickens and another insider sold significant amounts of stock, indicating a decrease in their ownership by 11.78% and 17.51% respectively.
• Analysts have mixed forecasts for Commvault, with eight rating it as a "Buy" and three as "Hold", and Royal Bank Of Canada recently raising its target price from $185 to $217.

Allspring Global Investments Holdings LLC trimmed its position in shares of CommVault Systems, Inc. (NASDAQ:CVLT - Free Report) by 14.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 553,498 shares of the software maker's stock after selling 93,760 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 1.24% of CommVault Systems worth $95,495,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in CVLT. Janney Montgomery Scott LLC acquired a new position in CommVault Systems in the 1st quarter valued at $243,000. Asset Management One Co. Ltd. acquired a new stake in shares of CommVault Systems in the first quarter valued at about $1,229,000. Principal Financial Group Inc. grew its stake in shares of CommVault Systems by 1.4% in the first quarter. Principal Financial Group Inc. now owns 122,042 shares of the software maker's stock valued at $19,253,000 after buying an additional 1,668 shares in the last quarter. Yorktown Management & Research Co Inc acquired a new stake in shares of CommVault Systems in the first quarter valued at about $260,000. Finally, Diversified Trust Co acquired a new stake in CommVault Systems during the 1st quarter valued at approximately $524,000. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Allison Pickens sold 690 shares of the stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $177.89, for a total value of $122,744.10. Following the completion of the transaction, the director owned 5,166 shares of the company's stock, valued at approximately $918,979.74. This represents a 11.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Gary Merrill sold 15,244 shares of the stock in a transaction on Friday, September 12th. The stock was sold at an average price of $178.01, for a total value of $2,713,584.44. Following the completion of the transaction, the insider directly owned 71,837 shares of the company's stock, valued at approximately $12,787,704.37. The trade was a 17.51% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 55,942 shares of company stock worth $10,019,157. 1.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Wall Street Zen lowered CommVault Systems from a "strong-buy" rating to a "buy" rating in a research note on Sunday, September 21st. Royal Bank Of Canada lifted their target price on CommVault Systems from $185.00 to $217.00 and gave the stock a "sector perform" rating in a research report on Wednesday, July 30th. Weiss Ratings reiterated a "hold (c)" rating on shares of CommVault Systems in a research report on Wednesday, October 8th. Truist Financial started coverage on CommVault Systems in a research report on Wednesday, October 8th. They issued a "buy" rating and a $230.00 target price for the company. Finally, Wells Fargo & Company lifted their target price on CommVault Systems from $190.00 to $220.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. Eight equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, CommVault Systems currently has an average rating of "Moderate Buy" and a consensus price target of $211.67.

CommVault Systems Price Performance

NASDAQ:CVLT opened at $175.67 on Tuesday. The business has a 50 day simple moving average of $183.20 and a 200 day simple moving average of $175.10. CommVault Systems, Inc. has a 12-month low of $128.07 and a 12-month high of $200.68. The firm has a market capitalization of $7.81 billion, a P/E ratio of 97.59 and a beta of 0.72.

CommVault Systems (NASDAQ:CVLT - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The software maker reported $1.01 EPS for the quarter, beating the consensus estimate of $0.97 by $0.04. CommVault Systems had a net margin of 7.70% and a return on equity of 30.83%. The company had revenue of $281.98 million for the quarter, compared to analyst estimates of $267.83 million. The business's revenue was up 26% compared to the same quarter last year. CommVault Systems has set its FY 2026 guidance at EPS. Q2 2026 guidance at EPS. Research analysts anticipate that CommVault Systems, Inc. will post 1.65 EPS for the current fiscal year.

CommVault Systems Company Profile

Commvault Systems, Inc provides data protection platform that helps customers to secure, defend, and recover their data in the United States and internationally. The company offers Commvault Backup and Recovery, a backup and recovery solution; Commvault Disaster Recovery, a replication and disaster recovery solution; Commvault Complete Data Protection, a data protection solution; and Metallic Data Protection as-a-service, which delivers enterprise-grade data protection as a service on a cloud platform, with advanced built-in security controls.

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