Deutsche Bank AG bought a new position in shares of CommVault Systems, Inc. (NASDAQ:CVLT - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 104,128 shares of the software maker's stock, valued at approximately $14,758,000. Deutsche Bank AG owned 0.25% of CommVault Systems at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in CommVault Systems by 8.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 147,410 shares of the software maker's stock valued at $23,255,000 after purchasing an additional 11,700 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in CommVault Systems in the second quarter worth approximately $327,000. Cetera Investment Advisers boosted its stake in CommVault Systems by 13.4% in the second quarter. Cetera Investment Advisers now owns 2,486 shares of the software maker's stock worth $433,000 after buying an additional 294 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in CommVault Systems by 188.3% during the second quarter. EverSource Wealth Advisors LLC now owns 271 shares of the software maker's stock valued at $47,000 after acquiring an additional 177 shares during the last quarter. Finally, Guggenheim Capital LLC grew its position in CommVault Systems by 43.8% during the second quarter. Guggenheim Capital LLC now owns 4,245 shares of the software maker's stock valued at $740,000 after acquiring an additional 1,293 shares during the last quarter. Institutional investors own 93.50% of the company's stock.
Insider Transactions at CommVault Systems
In other news, CEO Sanjay Mirchandani sold 6,857 shares of CommVault Systems stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $142.80, for a total transaction of $979,179.60. Following the sale, the chief executive officer owned 257,676 shares of the company's stock, valued at approximately $36,796,132.80. The trade was a 2.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible 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 Vivie Lee sold 595 shares of the business's stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $134.19, for a total transaction of $79,843.05. Following the transaction, the director owned 15,140 shares in the company, valued at $2,031,636.60. This represents a 3.78% 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. In the last 90 days, insiders sold 34,433 shares of company stock worth $4,756,008. 0.86% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
A number of brokerages have recently weighed in on CVLT. Royal Bank Of Canada boosted their price objective on shares of CommVault Systems from $100.00 to $110.00 and gave the stock a "sector perform" rating in a report on Wednesday, April 29th. Weiss Ratings upgraded CommVault Systems from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, June 16th. KeyCorp lifted their price target on CommVault Systems from $125.00 to $175.00 and gave the stock an "overweight" rating in a research note on Thursday, July 16th. Wolfe Research started coverage on CommVault Systems in a research report on Friday, May 1st. They issued a "peer perform" rating for the company. Finally, 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. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and ten have given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $152.47.
Check Out Our Latest Stock Analysis on CVLT
CommVault Systems Price Performance
CVLT opened at $133.81 on Friday. 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 stock has a market capitalization of $5.55 billion, a PE ratio of 85.23 and a beta of 0.81. The stock's 50 day moving average price is $138.61 and its 200-day moving average price is $109.49. 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 announced its quarterly earnings results on Tuesday, July 28th. The software maker reported $1.42 EPS for the quarter, topping analysts' consensus estimates of $1.16 by $0.26. The company had revenue of $314.13 million during the quarter, compared to analyst estimates of $310.43 million. CommVault Systems had a return on equity of 88.75% and a net margin of 5.62%.The firm's revenue was up 11.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.01 earnings per share. On average, equities research analysts predict that CommVault Systems, Inc. will post 2.84 EPS for the current year.
CommVault Systems Company Profile
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Free Report)
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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