Bank of New York Mellon Corp Invests $45.20 Million in CommVault Systems, Inc. $CVLT

Key Points

• Bank of New York Mellon purchased 318,892 CommVault Systems shares worth approximately $45.2 million, acquiring a 0.77% stake. Institutional investors collectively own 93.5% of the company.
• CommVault exceeded quarterly expectations, reporting $1.42 in EPS and $314.13 million in revenue, with revenue up 11.4% year over year. Analysts expect $2.84 in EPS for the current fiscal year.
• Analyst sentiment remains positive, with an overall “Moderate Buy” rating and an average price target of $152.47, although insiders have sold 29,602 shares worth $4.24 million over the past 90 days.

Bank of New York Mellon Corp purchased a new stake in CommVault Systems, Inc. (NASDAQ:CVLT - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor purchased 318,892 shares of the software maker's stock, valued at approximately $45,197,000. Bank of New York Mellon Corp owned approximately 0.77% of CommVault Systems at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. State of Wyoming purchased a new stake in shares of CommVault Systems during the second quarter worth about $35,000. Essential Partners LLC lifted its position in shares of CommVault Systems by 9,920.0% in the 1st quarter. Essential Partners LLC now owns 501 shares of the software maker's stock worth $39,000 after buying an additional 496 shares during the last quarter. Banque Cantonale Vaudoise acquired a new position in CommVault Systems in the third quarter valued at approximately $39,000. EverSource Wealth Advisors LLC grew its stake in CommVault Systems by 188.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 271 shares of the software maker's stock worth $47,000 after buying an additional 177 shares during the last quarter. Finally, Advisory Services Network LLC bought a new position in shares of CommVault Systems during the third quarter worth about $47,000. Hedge funds and other institutional investors own 93.50% of the company's stock.

CommVault Systems Stock Performance

Shares of NASDAQ CVLT opened at $140.36 on Friday. CommVault Systems, Inc. has a 1 year low of $71.75 and a 1 year high of $198.18. The firm has a market cap of $5.82 billion, a P/E ratio of 89.40 and a beta of 0.81. The stock has a fifty day moving average price of $139.16 and a two-hundred day moving average price of $111.09. The company has a debt-to-equity ratio of 16.94, a quick ratio of 2.04 and a current ratio of 2.04.

CommVault Systems (NASDAQ:CVLT - Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The software maker reported $1.42 EPS for the quarter, topping analysts' consensus estimates of $1.16 by $0.26. The company had revenue of $314.13 million for the quarter, compared to the consensus estimate of $310.43 million. CommVault Systems had a return on equity of 88.75% and a net margin of 5.62%.The company's quarterly revenue 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. Research analysts forecast that CommVault Systems, Inc. will post 2.84 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CVLT has been the subject of several analyst reports. Wall Street Zen upgraded CommVault Systems from a "hold" rating to a "buy" rating in a research report on Sunday, August 23rd. Mizuho raised their target price on CommVault Systems from $140.00 to $175.00 and gave the company an "outperform" rating in a research report on Wednesday, July 15th. Stephens lifted their target price on CommVault Systems from $135.00 to $155.00 and gave the company an "overweight" rating in a research note on Tuesday, June 16th. Zacks Research lowered CommVault Systems from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 1st. Finally, KeyCorp increased their price target on CommVault Systems from $125.00 to $175.00 and gave the stock an "overweight" rating in a research note on Thursday, July 16th. 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.com, the company has an average rating of "Moderate Buy" and an average price target of $152.47.

Insider Activity at CommVault Systems

In related news, CAO Danielle Nicole Abrahamsen sold 486 shares of the business's stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $142.80, for a total value of $69,400.80. Following the sale, the chief accounting officer directly owned 12,160 shares in the company, valued at $1,736,448. The trade was a 3.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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, CEO Sanjay Mirchandani sold 12,437 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $143.98, for a total transaction of $1,790,679.26. Following the sale, the chief executive officer directly owned 269,373 shares of the company's stock, valued at approximately $38,784,324.54. This represents a 4.41% 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 have sold 29,602 shares of company stock worth $4,240,541. Company insiders own 0.86% of the company's stock.

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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