Amundi Acquires 9,454 Shares of CommVault Systems, Inc. $CVLT

Key Points

• Amundi increased its CommVault Systems stake by 30.5% in the first quarter, purchasing 9,454 shares and bringing its holdings to 40,401 shares worth approximately $3.15 million. Institutional investors collectively own 93.5% of the company.
• CommVault reported quarterly EPS of $1.42, beating estimates of $1.16, while revenue rose 11.4% year over year to $314.13 million. Shares opened at $133.36, compared with a 12-month range of $71.75 to $198.18.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $152.47, although insiders sold 55,279 shares worth $5.79 million over the past 90 days, primarily through pre-arranged plans to cover tax obligations.

Amundi boosted its holdings in shares of CommVault Systems, Inc. (NASDAQ:CVLT - Free Report) by 30.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 40,401 shares of the software maker's stock after buying an additional 9,454 shares during the quarter. Amundi owned about 0.10% of CommVault Systems worth $3,147,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. EverSource Wealth Advisors LLC raised its holdings in CommVault Systems by 1,810.8% during the first quarter. EverSource Wealth Advisors LLC now owns 1,242 shares of the software maker's stock valued at $97,000 after buying an additional 1,177 shares in the last quarter. California State Teachers Retirement System boosted its stake in shares of CommVault Systems by 23.0% during the 1st quarter. California State Teachers Retirement System now owns 51,630 shares of the software maker's stock worth $4,021,000 after acquiring an additional 9,663 shares in the last quarter. American Capital Management Inc. increased its holdings in shares of CommVault Systems by 1.3% during the 1st quarter. American Capital Management Inc. now owns 540,845 shares of the software maker's stock valued at $42,126,000 after acquiring an additional 7,039 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of CommVault Systems by 19.3% in the 1st quarter. The Manufacturers Life Insurance Company now owns 456,457 shares of the software maker's stock valued at $35,553,000 after acquiring an additional 74,004 shares in the last quarter. Finally, Quantinno Capital Management LP lifted its holdings in CommVault Systems by 100.5% in the 1st quarter. Quantinno Capital Management LP now owns 80,922 shares of the software maker's stock worth $6,303,000 after purchasing an additional 40,554 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Sanjay Mirchandani sold 19,396 shares of the firm's stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $105.49, for a total transaction of $2,046,084.04. Following the completion of the transaction, the chief executive officer directly owned 315,377 shares of the company's stock, valued at approximately $33,269,119.73. This trade represents a 5.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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, CFO Gary Merrill sold 4,560 shares of CommVault Systems stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $105.10, for a total transaction of $479,256.00. Following the sale, the chief financial officer owned 72,507 shares in the company, valued at approximately $7,620,485.70. This trade represents a 5.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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 sold 55,279 shares of company stock worth $5,786,557. 0.86% of the stock is currently owned by corporate insiders.

CommVault Systems Price Performance

Shares of CVLT stock opened at $133.36 on Friday. CommVault Systems, Inc. has a 12 month low of $71.75 and a 12 month high of $198.18. The company has a market capitalization of $5.53 billion, a P/E ratio of 84.94 and a beta of 0.81. The stock has a 50 day moving average of $134.70 and a two-hundred day moving average of $107.05. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 16.94.

CommVault Systems (NASDAQ:CVLT - Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The software maker reported $1.42 earnings per share (EPS) for the quarter, beating 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 analysts' expectations of $310.43 million. During the same period in the previous year, the business posted $1.01 earnings per share. CommVault Systems's quarterly revenue was up 11.4% on a year-over-year basis. As a group, equities analysts expect that CommVault Systems, Inc. will post 2.84 EPS for the current year.

Wall Street Analysts Forecast Growth

CVLT has been the subject of a number of recent analyst reports. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $132.00 target price on shares of CommVault Systems in a research report on Monday, July 27th. Mizuho lifted their price target on shares of CommVault Systems from $140.00 to $175.00 and gave the company an "outperform" rating in a research report on Wednesday, July 15th. Guggenheim restated a "buy" rating on shares of CommVault Systems in a research note on Tuesday, July 28th. KeyCorp upped their price objective on shares of CommVault Systems from $125.00 to $175.00 and gave the stock an "overweight" rating in a report on Thursday, July 16th. Finally, Wolfe Research began coverage on shares of CommVault Systems in a research note on Friday, May 1st. They issued a "peer perform" rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and ten have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $152.47.

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.

Want to see what other hedge funds are holding CVLT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CommVault Systems, Inc. (NASDAQ:CVLT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source