Congress Asset Management Co. Boosts Stock Holdings in CommVault Systems, Inc. $CVLT

Key Points

• Congress Asset Management Co. increased its stake in CommVault Systems by 1.9%, acquiring an additional 10,446 shares, bringing its total to 570,888 shares valued at approximately $99.5 million.
• CommVault's stock recently opened at $185.84 with a market cap of $8.26 billion, and its quarterly earnings exceeded expectations with revenue up 26% year-over-year.
• Brokerages have boosted their price targets for CommVault, with DA Davidson and Wells Fargo setting new targets of $220.00, while the average price target stands at $205.63.

Congress Asset Management Co. grew its position in shares of CommVault Systems, Inc. (NASDAQ:CVLT - Free Report) by 1.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 570,888 shares of the software maker's stock after acquiring an additional 10,446 shares during the quarter. Congress Asset Management Co. owned 1.28% of CommVault Systems worth $99,523,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Janney Montgomery Scott LLC purchased a new position in shares of CommVault Systems in the 1st quarter worth about $243,000. Asset Management One Co. Ltd. purchased a new position in shares of CommVault Systems in the 1st quarter worth about $1,229,000. Principal Financial Group Inc. boosted its holdings in shares of CommVault Systems by 1.4% in the 1st quarter. Principal Financial Group Inc. now owns 122,042 shares of the software maker's stock worth $19,253,000 after buying an additional 1,668 shares during the last quarter. Yorktown Management & Research Co Inc purchased a new position in shares of CommVault Systems in the 1st quarter worth about $260,000. Finally, Wedge Capital Management L L P NC boosted its holdings in shares of CommVault Systems by 1,936.0% in the 1st quarter. Wedge Capital Management L L P NC now owns 360,355 shares of the software maker's stock worth $56,850,000 after buying an additional 342,656 shares during the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

CommVault Systems Stock Up 1.2%

NASDAQ CVLT opened at $185.84 on Friday. The company has a market cap of $8.26 billion, a PE ratio of 103.24 and a beta of 0.74. CommVault Systems, Inc. has a 52 week low of $128.07 and a 52 week high of $200.68. The firm's 50-day simple moving average is $182.06 and its two-hundred day simple moving average is $173.31.

CommVault Systems (NASDAQ:CVLT - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The software maker reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.04. CommVault Systems had a return on equity of 30.83% and a net margin of 7.70%.The firm had revenue of $281.98 million for the quarter, compared to analysts' expectations of $267.83 million. The firm's quarterly revenue was up 26% on a year-over-year basis. CommVault Systems has set its FY 2026 guidance at EPS. Q2 2026 guidance at EPS. As a group, equities research analysts anticipate that CommVault Systems, Inc. will post 1.65 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CVLT. DA Davidson boosted their price target on shares of CommVault Systems from $200.00 to $220.00 and gave the stock a "buy" rating in a report on Wednesday, July 30th. Wells Fargo & Company boosted their price target on shares of CommVault Systems from $190.00 to $220.00 and gave the stock an "overweight" rating in a report on Wednesday, July 30th. Piper Sandler upped their price objective on shares of CommVault Systems from $168.00 to $170.00 and gave the company a "neutral" rating in a report on Monday, July 14th. Royal Bank Of Canada upped their price objective on shares of CommVault Systems from $185.00 to $217.00 and gave the company a "sector perform" rating in a report on Wednesday, July 30th. Finally, Guggenheim set a $220.00 price objective on shares of CommVault Systems in a report on Tuesday, July 29th. Six equities research analysts have rated the stock with a Buy rating and three have issued 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 $205.63.

Insider Buying and Selling

In other news, CEO Sanjay Mirchandani sold 11,320 shares of the company's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $177.83, for a total transaction of $2,013,035.60. Following the sale, the chief executive officer directly owned 458,361 shares in the company, valued at $81,510,336.63. This represents a 2.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Allison Pickens sold 690 shares of the company's stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $177.89, for a total value of $122,744.10. Following the sale, the director owned 5,166 shares in the company, valued at approximately $918,979.74. This represents a 11.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 55,942 shares of company stock valued at $10,019,157. Corporate insiders own 1.00% of the company's stock.

CommVault Systems Profile

Commvault Systems, Inc provides data protection platform that helps customers to secure, defend, and recover their data in the United States and internationally. The company offers Commvault Backup and Recovery, a backup and recovery solution; Commvault Disaster Recovery, a replication and disaster recovery solution; Commvault Complete Data Protection, a data protection solution; and Metallic Data Protection as-a-service, which delivers enterprise-grade data protection as a service on a cloud platform, with advanced built-in security controls.

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