Boston Trust Walden Corp Purchases 299,141 Shares of CommVault Systems, Inc. $CVLT

Key Points

• Boston Trust Walden increased its CommVault stake by 114.1% in the third quarter, buying 299,141 shares to hold 561,288 shares valued at about $84.1 million.
• CommVault beat quarterly earnings estimates, reporting EPS of $1.38 versus $1.25 expected and revenue of $312.4 million, up 13.1% year over year.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $174; insiders sold 29,348 shares worth about $4.2 million over the past three months.

Boston Trust Walden Corp raised its position in CommVault Systems, Inc. (NASDAQ:CVLT - Free Report) by 114.1% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 561,288 shares of the software maker's stock after buying an additional 299,141 shares during the period. Boston Trust Walden Corp owned about 1.35% of CommVault Systems worth $84,148,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in CVLT. Vise Technologies Inc. lifted its stake in shares of CommVault Systems by 1.8% during the third quarter. Vise Technologies Inc. now owns 3,562 shares of the software maker's stock valued at $534,000 after acquiring an additional 64 shares during the period. GAMMA Investing LLC boosted its holdings in CommVault Systems by 4.3% in the third quarter. GAMMA Investing LLC now owns 1,626 shares of the software maker's stock valued at $244,000 after acquiring an additional 67 shares during the last quarter. Versant Capital Management Inc increased its position in CommVault Systems by 15.8% in the second quarter. Versant Capital Management Inc now owns 595 shares of the software maker's stock worth $84,000 after purchasing an additional 81 shares during the period. Summit Global Investments increased its position in CommVault Systems by 3.9% in the third quarter. Summit Global Investments now owns 3,522 shares of the software maker's stock worth $528,000 after purchasing an additional 131 shares during the period. Finally, Transamerica Financial Advisors LLC bought a new stake in CommVault Systems during the 2nd quarter worth about $25,000. 93.50% of the stock is owned by institutional investors and hedge funds.

Insider Activity at CommVault Systems

In other news, CAO Danielle Abrahamsen sold 486 shares of the company's stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $142.80, for a total value of $69,400.80. Following the completion of the sale, the chief accounting officer directly owned 12,160 shares of the company's stock, valued at $1,736,448. This represents a 3.84% 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, Director A. Shane Sanders sold 476 shares of the stock in a transaction that occurred 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 owned 8,696 shares in the company, valued at $1,166,916.24. This represents a 5.19% 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. In the last three months, insiders sold 29,348 shares of company stock worth $4,202,441. 0.86% of the stock is owned by company insiders.

CommVault Systems Stock Up 0.9%

Shares of CommVault Systems stock opened at $162.44 on Thursday. The business has a fifty day simple moving average of $149.78 and a 200 day simple moving average of $119.70. The stock has a market cap of $6.65 billion, a PE ratio of 56.29 and a beta of 0.90. The company has a quick ratio of 1.94, a current ratio of 1.94 and a debt-to-equity ratio of 70.45. CommVault Systems, Inc. has a 12 month low of $71.75 and a 12 month high of $174.25.

CommVault Systems (NASDAQ:CVLT - Get Free Report) last released its earnings results on Tuesday, October 27th. The software maker reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.13. CommVault Systems had a return on equity of 169.40% and a net margin of 6.60%. The firm had revenue of $312.39 million for the quarter, compared to analyst estimates of $310.41 million. During the same quarter in the prior year, the firm posted $0.91 earnings per share. The company's quarterly revenue was up 13.1% on a year-over-year basis. Research analysts predict that CommVault Systems, Inc. will post 2.98 EPS for the current year.

Wall Street Analyst Weigh In

CVLT has been the topic of a number of research reports. UBS Group restated a "neutral" rating on shares of CommVault Systems in a research report on Monday, July 27th. Weiss Ratings reiterated a "hold (c)" rating on shares of CommVault Systems in a research report on Friday, September 11th. Oppenheimer boosted their price target on shares of CommVault Systems from $150.00 to $175.00 and gave the stock an "outperform" rating in a research note on Friday, July 17th. Jefferies Financial Group increased their price objective on shares of CommVault Systems from $130.00 to $170.00 and gave the company a "hold" rating in a report on Monday, October 26th. Finally, DA Davidson increased their price objective on shares of CommVault Systems from $185.00 to $210.00 and gave the company a "buy" rating in a report on Wednesday, October 28th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and ten have assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $174.00.

About CommVault Systems

Commvault Systems, Inc develops data protection and cyber resilience software and services for businesses, government organizations and other institutions. Its platform is designed to help customers back up, recover, manage and secure data across on-premises infrastructure, private and public clouds, software-as-a-service applications and other distributed IT environments.

The company's offerings include backup and recovery, disaster recovery, data security, ransomware protection, cyber-recovery capabilities and data management tools.

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