Corient Private Wealth LP Buys 33,126 Shares of CommVault Systems, Inc. $CVLT

Key Points

• Corient Private Wealth increased its CommVault Systems stake by 89.2% in the second quarter, acquiring 33,126 additional shares and bringing its holdings to 70,268 shares worth approximately $9.96 million. Institutional investors collectively own 93.5% of the company.
• Analysts remain generally positive, with CommVault carrying a consensus “Moderate Buy” rating and an average price target of $152.62. Recent target prices range up to $175, although Piper Sandler downgraded the stock to “neutral” with a $133 target.
• CommVault reported quarterly adjusted EPS of $1.42, beating estimates of $1.16, while revenue rose 11.4% year over year to $314.13 million. The stock opened at $145.21, up from its 50-day average of $137.77 but below its 52-week high of $198.18.

Corient Private Wealth LP increased its stake in shares of CommVault Systems, Inc. (NASDAQ:CVLT - Free Report) by 89.2% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 70,268 shares of the software maker's stock after acquiring an additional 33,126 shares during the quarter. Corient Private Wealth LP owned about 0.17% of CommVault Systems worth $9,959,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Transamerica Financial Advisors LLC purchased a new stake in CommVault Systems in the 2nd quarter worth $25,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of CommVault Systems during the second quarter valued at about $27,000. Silvant Capital Management LLC purchased a new position in shares of CommVault Systems during the second quarter valued at about $30,000. Northwestern Mutual Wealth Management Co. purchased a new position in shares of CommVault Systems during the second quarter valued at about $53,000. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of CommVault Systems in the second quarter worth about $55,000. Institutional investors own 93.50% of the company's stock.

Insider Buying and Selling at CommVault Systems

In related news, CEO Sanjay Mirchandani sold 12,437 shares of CommVault Systems stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $143.98, for a total value of $1,790,679.26. Following the completion of the sale, the chief executive officer directly owned 269,373 shares in the company, valued at $38,784,324.54. The trade was a 4.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available 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, Director A. Shane Sanders sold 476 shares of the company's stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $134.19, for a total transaction of $63,874.44. Following the completion of the sale, the director directly owned 8,696 shares of the company's stock, valued at approximately $1,166,916.24. This trade 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 ninety days, insiders have sold 29,602 shares of company stock worth $4,240,541. Insiders own 0.86% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on CVLT shares. DA Davidson set a $175.00 target price on CommVault Systems in a research report on Wednesday, July 29th. Mizuho lifted their price objective on shares of CommVault Systems from $140.00 to $175.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 15th. Piper Sandler lowered CommVault Systems from an "overweight" rating to a "neutral" rating and set a $133.00 price objective for the company. in a research note on Tuesday, July 28th. KeyCorp lifted their target price on CommVault Systems from $125.00 to $175.00 and gave the stock an "overweight" rating in a report on Thursday, July 16th. Finally, Wall Street Zen raised CommVault Systems from a "hold" rating to a "buy" rating in a research report on Sunday. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, CommVault Systems has a consensus rating of "Moderate Buy" and an average target price of $152.62.

CommVault Systems Stock Up 1.3%

Shares of NASDAQ CVLT opened at $145.21 on Thursday. The company has a debt-to-equity ratio of 16.94, a quick ratio of 2.04 and a current ratio of 2.04. The firm has a market capitalization of $6.02 billion, a price-to-earnings ratio of 92.49 and a beta of 0.82. The stock has a 50 day moving average price of $137.77 and a 200 day moving average price of $115.76. CommVault Systems, Inc. has a 52-week low of $71.75 and a 52-week high of $198.18.

CommVault Systems (NASDAQ:CVLT - Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The software maker reported $1.42 EPS for the quarter, topping the consensus estimate 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%.CommVault Systems's quarterly revenue was up 11.4% on a year-over-year basis. During the same period last year, the business posted $1.01 EPS. Sell-side analysts expect that CommVault Systems, Inc. will post 2.84 earnings per share for the current year.

CommVault Systems Company Profile

Commvault Systems, Inc develops data protection and cyber resilience software for organizations seeking to secure, manage and recover data across on-premises, cloud and hybrid environments. Its technology is designed to help businesses protect workloads, reduce the risk of data loss and maintain operations following system failures, cyberattacks or other disruptions.

The company's offerings include backup and recovery, disaster recovery, data security, cyber recovery and cloud data management solutions.

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