Bessemer Group Inc. Has $340,000 Position in CommVault Systems, Inc. $CVLT

Key Points

• Bessemer Group Inc. cut its CommVault Systems stake by 62% in the first quarter, leaving it with 4,354 shares valued at about $340,000.
• Several other institutional investors were active in CVLT, and overall 93.5% of the stock is now held by institutions and hedge funds.
• Analysts remain mostly positive on CommVault Systems, with an average rating of “Moderate Buy” and an average price target of $145.47; the company also recently beat quarterly earnings and revenue estimates.

Bessemer Group Inc. lessened its holdings in shares of CommVault Systems, Inc. (NASDAQ:CVLT - Free Report) by 62.0% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 4,354 shares of the software maker's stock after selling 7,090 shares during the period. Bessemer Group Inc.'s holdings in CommVault Systems were worth $340,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Boston Trust Walden Corp bought a new position in shares of CommVault Systems in the fourth quarter worth about $30,830,000. Intech Investment Management LLC grew its stake in shares of 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 purchasing an additional 29,796 shares during the last quarter. Epoch Investment Partners Inc. acquired a new stake in shares of CommVault Systems in the fourth quarter valued at approximately $27,278,000. BNP Paribas Financial Markets increased its holdings in shares of CommVault Systems by 410.8% in the fourth 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 raised its position in CommVault Systems by 64.3% in the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 273,206 shares of the software maker's stock worth $21,280,000 after purchasing an additional 106,970 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have commented on CVLT shares. KeyCorp increased their price objective on CommVault Systems from $125.00 to $175.00 and gave the company an "overweight" rating in a research report on Thursday, July 16th. Truist Financial boosted their target price on CommVault Systems from $155.00 to $182.00 and gave the stock a "buy" rating in a research report on Tuesday, July 21st. Mizuho upped their price target on CommVault Systems from $140.00 to $175.00 and gave the company an "outperform" rating in a research note on Wednesday, July 15th. Robert W. Baird decreased their price target on CommVault Systems from $185.00 to $160.00 and set an "outperform" rating on the stock in a report on Monday, April 13th. Finally, Zacks Research lowered CommVault Systems from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eight have assigned a Hold rating to the company's stock. According to MarketBeat.com, CommVault Systems has an average rating of "Moderate Buy" and an average price target of $145.47.

Insider Buying and Selling at CommVault Systems

In other news, CAO Danielle Nicole Abrahamsen sold 1,065 shares of the company's stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $105.84, for a total value of $112,719.60. Following the completion of the sale, the chief accounting officer directly owned 13,581 shares of the company's stock, valued at $1,437,413.04. This represents a 7.27% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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 19,396 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer owned 315,377 shares in the company, valued at $33,269,119.73. This represents a 5.79% 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. Over the last quarter, insiders have sold 55,279 shares of company stock valued at $5,786,557. 0.86% of the stock is currently owned by company insiders.

CommVault Systems Price Performance

CVLT opened at $142.31 on Friday. The company has a fifty day moving average price of $130.92 and a two-hundred day moving average price of $107.03. The company has a debt-to-equity ratio of 117.54, a quick ratio of 1.95 and a current ratio of 1.95. CommVault Systems, Inc. has a 52 week low of $71.75 and a 52 week high of $200.68. The firm has a market capitalization of $5.89 billion, a PE ratio of 89.50 and a beta of 0.79.

CommVault Systems (NASDAQ:CVLT - Get Free Report) last posted its quarterly 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 return on equity of 51.64% and a net margin of 5.97%.The company had revenue of $311.69 million for the quarter, compared to the consensus estimate of $306.71 million. During the same quarter in the prior year, the business posted $1.03 EPS. The firm's quarterly revenue was up 13.3% on a year-over-year basis. As a group, analysts anticipate that CommVault Systems, Inc. will post 2.88 earnings per share for the current year.

CommVault Systems 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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