Amundi Sells 8,059 Shares of CommVault Systems, Inc. $CVLT

Key Points

• Amundi cut its CommVault Systems stake by 19.9% in the second quarter, selling 8,059 shares and retaining 32,342 shares valued at approximately $4.6 million. Institutional investors collectively own 93.5% of the company.
• CommVault exceeded quarterly expectations, reporting EPS of $1.42 versus the $1.16 consensus and revenue of $314.1 million, up 11.4% year over year.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $152.62, while company insiders sold 29,602 shares worth about $4.24 million in the latest quarter.

Amundi decreased its position in shares of CommVault Systems, Inc. (NASDAQ:CVLT - Free Report) by 19.9% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 32,342 shares of the software maker's stock after selling 8,059 shares during the period. Amundi owned approximately 0.08% of CommVault Systems worth $4,584,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in CVLT. Intech Investment Management LLC grew its position in CommVault Systems by 52.4% during the fourth quarter. Intech Investment Management LLC now owns 86,634 shares of the software maker's stock valued at $10,860,000 after acquiring an additional 29,796 shares during the last quarter. Epoch Investment Partners Inc. bought a new stake in shares of CommVault Systems in the 4th quarter worth approximately $27,278,000. Madison Asset Management LLC boosted its stake in shares of CommVault Systems by 39.7% in the 1st quarter. Madison Asset Management LLC now owns 33,459 shares of the software maker's stock valued at $2,606,000 after purchasing an additional 9,512 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in shares of CommVault Systems by 410.8% in the 4th quarter. BNP Paribas Financial Markets now owns 320,468 shares of the software maker's stock valued at $40,174,000 after purchasing an additional 257,729 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH grew its holdings in shares of CommVault Systems by 64.3% during the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 273,206 shares of the software maker's stock valued at $21,280,000 after purchasing an additional 106,970 shares during the last quarter. Institutional investors own 93.50% of the company's stock.

CommVault Systems Stock Performance

Shares of CVLT stock opened at $130.07 on Friday. The stock has a fifty day moving average of $138.21 and a 200 day moving average of $114.39. CommVault Systems, Inc. has a 52 week low of $71.75 and a 52 week high of $198.18. The firm has a market capitalization of $5.39 billion, a price-to-earnings ratio of 82.85 and a beta of 0.82. 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 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 net margin of 5.62% and a return on equity of 88.75%. The business had revenue of $314.13 million for the quarter, compared to the consensus estimate of $310.43 million. During the same period in the previous year, the firm earned $1.01 EPS. The company's quarterly revenue was up 11.4% compared to the same quarter last year. As a group, research analysts expect that CommVault Systems, Inc. will post 2.84 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on CVLT shares. FBN Securities started coverage on shares of CommVault Systems in a research report on Thursday. They issued an "outperform" rating and a $155.00 target price on the stock. Jefferies Financial Group reaffirmed a "hold" rating and set a $130.00 price objective on shares of CommVault Systems in a research note on Wednesday, July 29th. Guggenheim reaffirmed a "buy" rating on shares of CommVault Systems in a research note on Tuesday, July 28th. KeyCorp lifted their price objective on CommVault Systems from $125.00 to $175.00 and gave the stock an "overweight" rating in a report on Thursday, July 16th. Finally, Piper Sandler lowered CommVault Systems from an "overweight" rating to a "neutral" rating and set a $133.00 target price for the company. in a research note on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $152.62.

Insider Buying and Selling

In other CommVault Systems news, CEO Sanjay Mirchandani sold 12,437 shares of the company's stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $143.98, for a total transaction of $1,790,679.26. Following the transaction, the chief executive officer owned 269,373 shares in the company, valued at approximately $38,784,324.54. This represents a 4.41% 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, Director A. Shane Sanders sold 476 shares of the stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $134.19, for a total value of $63,874.44. Following the completion of the transaction, the director directly owned 8,696 shares of the company's stock, valued at $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 valued at $4,240,541 over the last quarter. 0.86% of the stock is currently owned by insiders.

CommVault Systems Company Profile

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.

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