Bank of New York Mellon Corp Has $25.81 Million Stock Holdings in CommVault Systems, Inc. $CVLT

Key Points

• Bank of New York Mellon trimmed its CommVault Systems position by 2.1%, selling 7,136 shares and retaining 331,309 shares worth approximately $25.8 million. Institutional investors collectively own 93.5% of CVLT.
• CommVault reported quarterly earnings of $1.28 per share, beating estimates by $0.19, while revenue rose 13.3% year over year to $311.69 million. The stock was recently trading up 5.0% at $149.46.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $147.60; however, company insiders have sold 55,279 shares worth about $5.8 million over the past 90 days.

Bank of New York Mellon Corp trimmed its position in CommVault Systems, Inc. (NASDAQ:CVLT - Free Report) by 2.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 331,309 shares of the software maker's stock after selling 7,136 shares during the quarter. Bank of New York Mellon Corp owned 0.75% of CommVault Systems worth $25,806,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. M&T Bank Corp raised its holdings in shares of CommVault Systems by 22,133.9% during the 4th quarter. M&T Bank Corp now owns 610,098 shares of the software maker's stock worth $76,482,000 after buying an additional 607,354 shares in the last quarter. TD Asset Management Inc grew its position in shares of CommVault Systems by 14,047.5% during the 4th quarter. TD Asset Management Inc now owns 381,982 shares of the software maker's stock worth $47,885,000 after buying an additional 379,282 shares during the period. AQR Capital Management LLC raised its stake in CommVault Systems by 60.8% during the 2nd quarter. AQR Capital Management LLC now owns 893,385 shares of the software maker's stock worth $155,744,000 after buying an additional 337,830 shares during the period. Pictet Asset Management Holding SA raised its holdings in CommVault Systems by 36.2% during 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 buying an additional 329,243 shares during the last quarter. Finally, First Trust Advisors LP raised its stake in shares of CommVault Systems by 25.5% in the fourth quarter. First Trust Advisors LP now owns 1,537,034 shares of the software maker's stock worth $192,683,000 after purchasing an additional 312,178 shares during the last quarter. 93.50% of the stock is owned by institutional investors.

CommVault Systems Trading Up 5.0%

CVLT opened at $149.46 on Tuesday. The stock has a market cap of $6.19 billion, a PE ratio of 94.00 and a beta of 0.79. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 117.54. CommVault Systems, Inc. has a 52 week low of $71.75 and a 52 week high of $200.68. The business has a 50 day moving average of $131.80 and a 200-day moving average of $107.07.

CommVault Systems (NASDAQ:CVLT - Get Free Report) last announced its earnings results on Tuesday, April 28th. The software maker reported $1.28 earnings per share for the quarter, beating analysts' consensus estimates of $1.09 by $0.19. CommVault Systems had a net margin of 5.97% and a return on equity of 51.64%. The business had revenue of $311.69 million during the quarter, compared to the consensus estimate of $306.71 million. During the same quarter last year, the firm earned $1.03 earnings per share. The business's revenue for the quarter was up 13.3% on a year-over-year basis. Equities research analysts predict that CommVault Systems, Inc. will post 2.88 earnings per share for the current fiscal year.

Insider Activity

In other news, CAO Danielle Nicole Abrahamsen sold 1,065 shares of the firm's stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $105.84, for a total value of $112,719.60. Following the transaction, the chief accounting officer directly owned 13,581 shares in the company, valued at $1,437,413.04. This trade represents a 7.27% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 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 the company's stock in a transaction that occurred on 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 directly owned 72,507 shares of the company's stock, valued at approximately $7,620,485.70. This represents a 5.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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. Insiders have sold 55,279 shares of company stock valued at $5,786,557 in the last ninety days. 0.86% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CVLT. Wolfe Research started coverage on shares of CommVault Systems in a research report on Friday, May 1st. They set a "peer perform" rating on the stock. Oppenheimer upped their price objective on shares of CommVault Systems from $150.00 to $175.00 and gave the company an "outperform" rating in a report on Friday, July 17th. Truist Financial raised their price target on CommVault Systems from $155.00 to $182.00 and gave the stock a "buy" rating in a report on Tuesday, July 21st. DA Davidson reiterated a "buy" rating and issued a $125.00 target price on shares of CommVault Systems in a research note on Monday, April 13th. Finally, Weiss Ratings raised CommVault Systems from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, June 16th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $147.60.

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.

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