CommVault Systems, Inc. $CVLT Shares Sold by Allworth Financial LP

Key Points

• Allworth Financial LP cut its CommVault Systems stake by 97% in the fourth quarter, selling 11,302 shares and leaving it with just 354 shares valued at about $44,000.
• CommVault reported strong quarterly results, with EPS of $1.28 beating estimates and revenue of $311.69 million topping forecasts; revenue also rose 13.3% year over year.
• Analysts remain cautiously positive overall, with a consensus rating of Moderate Buy and a consensus price target of $135, while recent insider sales by the CFO and CAO were made under pre-arranged plans tied to tax withholding.

Allworth Financial LP decreased its holdings in shares of CommVault Systems, Inc. (NASDAQ:CVLT - Free Report) by 97.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 354 shares of the software maker's stock after selling 11,302 shares during the quarter. Allworth Financial LP's holdings in CommVault Systems were worth $44,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of CVLT. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in CommVault Systems by 8.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 147,410 shares of the software maker's stock worth $23,255,000 after purchasing an additional 11,700 shares during the last quarter. Sivia Capital Partners LLC bought a new position in CommVault Systems in the 2nd quarter worth about $327,000. Cetera Investment Advisers grew its position in CommVault Systems by 13.4% in the 2nd quarter. Cetera Investment Advisers now owns 2,486 shares of the software maker's stock worth $433,000 after purchasing an additional 294 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in CommVault Systems by 188.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 271 shares of the software maker's stock worth $47,000 after purchasing an additional 177 shares during the last quarter. Finally, Guggenheim Capital LLC grew its position in CommVault Systems by 43.8% in the 2nd quarter. Guggenheim Capital LLC now owns 4,245 shares of the software maker's stock worth $740,000 after purchasing an additional 1,293 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company's stock.

Insider Activity at CommVault Systems

In related news, CFO Gary Merrill sold 4,554 shares of the company's stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $106.70, for a total value of $485,911.80. Following the completion of the sale, the chief financial officer owned 72,775 shares in the company, valued at approximately $7,765,092.50. This represents a 5.89% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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, CAO Danielle Nicole Abrahamsen sold 277 shares of the company's stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $106.70, for a total transaction of $29,555.90. Following the completion of the sale, the chief accounting officer owned 13,166 shares of the company's stock, valued at approximately $1,404,812.20. This trade represents a 2.06% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 75,415 shares of company stock worth $7,369,811. 1.00% of the stock is owned by corporate insiders.

CommVault Systems Stock Down 0.8%

CVLT stock opened at $107.24 on Thursday. CommVault Systems, Inc. has a 12 month low of $71.75 and a 12 month high of $200.68. The firm has a market cap of $4.42 billion, a PE ratio of 67.45 and a beta of 0.77. The firm has a 50 day simple moving average of $92.09 and a 200 day simple moving average of $103.52. The company has a debt-to-equity ratio of 117.54, a current ratio of 1.95 and a quick ratio of 1.95.

CommVault Systems (NASDAQ:CVLT - Get Free Report) last released its earnings results on Tuesday, April 28th. The software maker reported $1.28 EPS for the quarter, beating the consensus estimate of $1.09 by $0.19. The business had revenue of $311.69 million during the quarter, compared to analyst estimates of $306.71 million. CommVault Systems had a net margin of 5.97% and a return on equity of 51.64%. The business's quarterly revenue was up 13.3% on a year-over-year basis. During the same period in the prior year, the business earned $1.03 earnings per share. Equities research analysts forecast that CommVault Systems, Inc. will post 2.86 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently issued reports on CVLT shares. Wells Fargo & Company decreased their price objective on shares of CommVault Systems from $190.00 to $155.00 and set an "overweight" rating for the company in a report on Wednesday, January 28th. Guggenheim decreased their price objective on shares of CommVault Systems from $200.00 to $175.00 and set a "buy" rating for the company in a report on Wednesday, January 28th. Mizuho decreased their price objective on shares of CommVault Systems from $180.00 to $140.00 and set an "outperform" rating for the company in a report on Wednesday, January 28th. Jefferies Financial Group started coverage on shares of CommVault Systems in a report on Monday, April 27th. They issued a "hold" rating and a $105.00 price objective for the company. Finally, Royal Bank Of Canada increased their price objective on shares of CommVault Systems from $100.00 to $110.00 and gave the company a "sector perform" rating in a report on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, CommVault Systems currently has a consensus rating of "Moderate Buy" and a consensus target price of $135.00.

Key Stories Impacting CommVault Systems

Here are the key news stories impacting CommVault Systems this week:

• Positive Sentiment: Commvault is scheduled to present at the William Blair Growth Conference on June 2, which may help reinforce its growth story and keep investor attention on the business. Commvault to Present at the William Blair Growth Conference
• Neutral Sentiment: Chief Financial Officer Gary Merrill and Chief Accounting Officer Danielle Nicole Abrahamsen disclosed small share sales under pre-arranged 10b5-1 plans tied to tax withholding on equity awards, which is routine and not usually viewed as a major negative signal.
• Negative Sentiment: Several law firms publicly promoted class-action claims against Commvault, reinforcing the market’s focus on the pending securities-fraud case and the earlier sharp selloff tied to weaker-than-expected ARR growth. CVLT Shareholder Alert: Investors With Losses May Seek to Lead the Class Action in Commvault Systems, Inc. Securities Lawsuit

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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