Bank of America Corp DE Reduces Stock Position in CommVault Systems, Inc. $CVLT

Key Points

• Bank of America reduced its CommVault Systems stake by 9.8% in the first quarter, selling 28,422 shares and retaining 260,855 shares valued at approximately $20.3 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. The stock opened at $142.81, with a consensus analyst rating of “Moderate Buy” and a $152.47 target price.
• Analyst opinions remain mixed, ranging from “Hold” to “Buy,” while company insiders sold 10,034 shares worth about $1.1 million over the past three months under pre-arranged trading plans.

Bank of America Corp DE cut its position in CommVault Systems, Inc. (NASDAQ:CVLT - Free Report) by 9.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 260,855 shares of the software maker's stock after selling 28,422 shares during the period. Bank of America Corp DE owned approximately 0.63% of CommVault Systems worth $20,318,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in CommVault Systems by 4.4% in the fourth quarter. Vanguard Group Inc. now owns 5,675,590 shares of the software maker's stock valued at $711,492,000 after buying an additional 240,093 shares during the last quarter. First Trust Advisors LP boosted its holdings in shares of CommVault Systems by 25.5% in the 4th quarter. First Trust Advisors LP now owns 1,537,034 shares of the software maker's stock valued at $192,683,000 after acquiring an additional 312,178 shares during the last quarter. Pictet Asset Management Holding SA increased its stake in shares of CommVault Systems by 36.2% in the first quarter. Pictet Asset Management Holding SA now owns 1,239,225 shares of the software maker's stock worth $96,447,000 after acquiring an additional 329,243 shares during the period. Westfield Capital Management Co. LP increased its stake in shares of CommVault Systems by 34.5% in the fourth quarter. Westfield Capital Management Co. LP now owns 1,057,077 shares of the software maker's stock worth $132,515,000 after acquiring an additional 270,902 shares during the period. Finally, AQR Capital Management LLC raised its holdings in shares of CommVault Systems by 60.8% during the second quarter. AQR Capital Management LLC now owns 893,385 shares of the software maker's stock worth $155,744,000 after purchasing an additional 337,830 shares during the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

CommVault Systems Trading Down 1.0%

CVLT stock opened at $142.81 on Wednesday. The company's 50-day simple moving average is $138.16 and its 200-day simple moving average is $108.64. 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, Inc. has a 52-week low of $71.75 and a 52-week high of $198.18. The firm has a market cap of $5.92 billion, a P/E ratio of 90.96 and a beta of 0.81.

CommVault Systems (NASDAQ:CVLT - Get Free Report) last announced its quarterly earnings results on Tuesday, July 28th. The software maker reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.26. The firm had revenue of $314.13 million during the quarter, compared to analyst estimates of $310.43 million. CommVault Systems had a return on equity of 88.75% and a net margin of 5.62%.CommVault Systems's revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.01 EPS. As a group, equities analysts forecast that CommVault Systems, Inc. will post 2.84 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on CVLT shares. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $132.00 price target on shares of CommVault Systems in a research report on Monday, July 27th. Weiss Ratings upgraded CommVault Systems from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, June 16th. Wolfe Research assumed coverage on CommVault Systems in a report on Friday, May 1st. They set a "peer perform" rating on the stock. Jefferies Financial Group reiterated a "hold" rating and set a $130.00 price target on shares of CommVault Systems in a research report on Wednesday, July 29th. Finally, Guggenheim reissued a "buy" rating on shares of CommVault Systems in a report on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $152.47.

Insiders Place Their Bets

In other news, Director Vivie Lee sold 595 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 transaction of $79,843.05. Following the transaction, the director owned 15,140 shares in the company, valued at $2,031,636.60. This trade represents a 3.78% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director A Shane Sanders sold 476 shares of CommVault Systems stock in a transaction 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 sale, the director directly owned 8,696 shares in the company, valued at $1,166,916.24. This represents a 5.19% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 10,034 shares of company stock valued at $1,113,744 in the last three months. 0.86% of the stock is currently owned by company insiders.

CommVault Systems Company 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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