Edgestream Partners L.P. Takes $3.77 Million Position in CommVault Systems, Inc. $CVLT

Key Points

• Edgestream Partners L.P. acquired 48,391 CommVault Systems shares worth approximately $3.77 million, representing 0.12% of the company. Institutional investors collectively own 93.5% of CVLT.
• CommVault reported quarterly EPS of $1.42, beating estimates by $0.26, while revenue of $314.13 million rose 11.4% year over year and exceeded expectations.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $152.47, although Piper Sandler downgraded the stock to neutral; shares opened at $117.80 and have traded between $71.75 and $198.18 over the past year.

Edgestream Partners L.P. purchased a new stake in CommVault Systems, Inc. (NASDAQ:CVLT - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 48,391 shares of the software maker's stock, valued at approximately $3,769,000. Edgestream Partners L.P. owned 0.12% of CommVault Systems as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. State of Wyoming bought a new stake in CommVault Systems during the 2nd quarter valued at $35,000. FNY Investment Advisers LLC bought a new position in shares of CommVault Systems during the 4th quarter worth $36,000. Banque Cantonale Vaudoise bought a new position in shares of CommVault Systems during the 3rd quarter worth $39,000. Assetmark Inc. increased its stake in shares of CommVault Systems by 33.6% during the fourth quarter. Assetmark Inc. now owns 326 shares of the software maker's stock valued at $41,000 after buying an additional 82 shares during the period. Finally, EverSource Wealth Advisors LLC increased its stake in shares of 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 buying an additional 177 shares during the period. Institutional investors own 93.50% of the company's stock.

Insider Activity

In other news, CAO Danielle Nicole Abrahamsen sold 254 shares of CommVault Systems stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $150.00, for a total value of $38,100.00. Following the transaction, the chief accounting officer owned 13,156 shares of the company's stock, valued at $1,973,400. The trade was a 1.89% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Gary Merrill sold 4,554 shares of the business's stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $106.70, for a total transaction of $485,911.80. Following the transaction, the chief financial officer owned 72,775 shares of the company's stock, valued at approximately $7,765,092.50. This trade represents a 5.89% decrease in their position. 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 55,279 shares of company stock worth $5,786,557. Corporate insiders own 0.86% of the company's stock.

CommVault Systems Trading Up 1.2%

Shares of NASDAQ CVLT opened at $117.80 on Friday. CommVault Systems, Inc. has a 1-year low of $71.75 and a 1-year high of $198.18. The business has a fifty day moving average price of $132.89 and a 200 day moving average price of $107.00. The stock has a market capitalization of $4.88 billion, a P/E ratio of 75.03 and a beta of 0.79. The company has a debt-to-equity ratio of 16.94, a current ratio of 2.04 and a quick ratio of 1.95.

CommVault Systems (NASDAQ:CVLT - Get Free Report) last posted its earnings results on Tuesday, July 28th. The software maker reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.26. The company had revenue of $314.13 million for 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 quarterly revenue was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.01 earnings per share. Equities research analysts expect that CommVault Systems, Inc. will post 2.84 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CVLT has been the subject of a number of research reports. Piper Sandler lowered shares of 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. Weiss Ratings raised shares of CommVault Systems from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, June 16th. KeyCorp boosted their price target on shares of CommVault Systems from $125.00 to $175.00 and gave the company an "overweight" rating in a report on Thursday, July 16th. Wall Street Zen raised shares of CommVault Systems from a "hold" rating to a "buy" rating in a research report on Saturday. Finally, Stephens increased their price objective on shares of CommVault Systems from $135.00 to $155.00 and gave the company an "overweight" rating in a research note on Tuesday, June 16th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $152.47.

CommVault Systems Profile

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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